What?

-Metal is a cryptocurrency designed to be more accessible to an ordinary user.

-Made to replace Venmo, Square, Paypal.

-Uses the Ethereum blockchain.

Why?

-Current cryptocurrencies (mostly bitcoin) are not user-friendly, not usable with major institutions like banks, and don’t provide a strong reason for individuals to get involved.

-Total Supply: 66,588,888 MTL

-Available for token sale: 19,588,888

-Reserved for PoPP: 26,341,112

-Reserved for Metallicus employees: 3,360,000

-Remainder (locked for one year): 20,658,888

Unlike other cryptocurrencies, Metal uses a real, FDIC-backed bank account. This can inherently reassure individuals who would be concerned by holding their money in the form of an un-backed cryptocurrency. Unfortunately, Metallicus still has not publicly disclosed which bank is backing their currency.

Transactions are claimed to be processesd within one minute, however there is no technical information to back this claim up.

Metal does not involve transaction fees. In fact, it actually involves the opposite. “Proof-of-Processed-Payments” (PoPP) is the system through which Metal introduces new tokens into circulation. Any transaction involving fiat currency will give 5% of the transaction value to each party (in MTL). The logic behind this is that ordinary users who wish to simply use cash will eventually build up a reserve of this cryptocurrency. They will then be compelled to get further involved with cryptocurrency, as they will have accumulated a noteworthy amount of value in the form of MTL. [Read More]

Metal’s open alpha began October 30, 2017. In order to receive PoPP (the biggest incentive for Metal), one must identify his or herself with Passport ID number or Social Security Number. Metal is run by a company, Metallicus, Inc. Metallicus is ostensibly partnered with a major bank, and can be used with FDIC-backed bank accounts. However, the company has not disclosed which bank they are partnered with at this time. [Read More]