Categories: EducationFAQ

What Is Mothership Cryptocurrency (MSP)?

Mothership is one of those cryptocurrency projects which will undoubtedly attract a lot of attention in the coming years. This blockchain startup is building a cryptocurrency and digital asset exchange, with products coming to market in the near future. Unlike other centralized exchanges, however, Mothership focuses on onboarding, customer support, and reliability.

The Mothership Vision Explained

It is evident that Mothership wants to improve the cryptocurrency and digital asset exchange ecosystem. Traditional solutions have suffered from degraded performance, both in terms of trading as well as customer support. There is a lot of room for improvement, and Mothership aims to check all of the right boxes moving forward. With the growth in the popularity of decentralized exchanges, however, it remains to be seen how the general public will respond to this venture.

How Does it Work?

Building a new cryptocurrency and digital asset exchange is not all that easy. It’s especially challenging in the case of Mothership, as the project also wants to democratize funding for new blockchain projects in general. By allowing both individuals and experts to invest in new projects, the Mothership Genesis Platform will be of great interest. It is fully EU KYC-compliant, and tokens are distributed using native smart contract technology.

Additionally, the Genesis Platform provides users with a custom toolkit to address any potential legal issues or requirements. It is unclear if this applies to EU regulation, although it is safe to assume this project aims to become a global solution. This project is well worth keeping an eye on by European businesses and cryptocurrency enthusiasts, for obvious reasons.

Under the hood, Mothership uses a multisig wallet infrastructure to make transactions across all its services convenient and frictionless. It also ensures customer funds are safe from harm at all times, as multiple digital signatures are required. It seems this solution also supports e-Resident digital identities, which will certainly make it stand out among all other services on the market today.

The MSP Token

As one would expect, the Mothership ecosystem has its own token, known as MSP. This token is used to access premium and platinum account tiers, community creation, beta products, and reputation management. It also seems the Mothership team will repurchase MSP from the open market by using 20% of the fees generated by all of its products and services for this specific purpose. All of the repurchased MSP will be destroyed permanently to reduce the circulating token supply.

Mothership’s Roadmap

Even though the Mothership team has worked hard on early versions of their products already, there is still a lot of work to be done. For now, the team is working on getting certified by the EU as a financial institution. 2FA security is also coming to all MSP login services, which is a positive sign. The Mothership Exchange will go into alpha launch in the coming months as well, which will be a big milestone for the company. Its actual release is not scheduled for anytime soon, though.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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