What is MobileCoin (MOB)
MobileCoin democratizes the digital payment system by enabling global end-to-end encrypted mobile payments instantly. The MobileCoin blockchain uses Federated Byzantine Agreement for consensus and sevenl defensive layers for confidential transactions. MobileCoin powers mobile apps like Signal Messenger to send digital cash without compromising on user security. Which can be sent to any mobile phone number and has wallet support for web browsers, desktop and mobile apps.
MOB is the native token of the project. The current use case for MOB include:
- Payment currency: Functions as digital cash and enables users to use MOB as a means of currency to exchange goods and services on Signal.
The project consists of the following major components working in conjunction:
- MobileCoin Wallet: Native network wallet, available on desktop and mobile.
- MobileCoin Recovery Pin: A public and private key, generated after installing the MobileCoin Wallet, which is used to make transactions on the network.
- MobileCoin Consensus Protocol: Uses Federated Byzantine Agreement which allows new payments to be rapidly confirmed while MobileCoin’s Fog technology allows resource-constrained nodes like mobile devices to avoid storing the full blockchain of the transaction history.
- Software Guard eXtensions (SGX): All validator nodes run on Intel’s SGX secure enclave, which is an isolation and encryption technology to protect data. It allows nodes to manage keys for users.
As at April 29th 2022, the total and maximum token supply of MOB is 250,000,000. The current circulating supply is 118,393,361 (~47.35% of the total token supply).