Cryptocurrencies were conceived with the notion to facilitate the digital financial ecosystem. Cryptocurrencies were designed for instantaneous and cost-effective online payments. However, the digital currencies may have become not an effective option for online transactions. For example, Bitcoin is considered as more of a store of value than a medium of exchange while Ethereum has soaring high transaction fees.
With the original purpose of cryptocurrencies being blurred somewhere along the rise to popularity; however, there are still some projects that have not swayed from the mission of cryptocurrencies – that is to provide instant transactions online. Metal is one such projects that is incentivizing transactions.
What is Metal?
Metal is a blockchain founded by Marshall Hayner in 2016. The blockchain has a ERC-20 token, MTL, and also has a Metal Pay digital wallet built on top on Ethereum’s blockchain. The Metal Pay application sets itself apart from other applications in that it allows users to freely utilize their cryptocurrency holding through transactions. Users can send MTL token as well as fiat currencies to other users on the applications by connecting their bank accounts with the wallet. Moreover, the application also incentivizes the use of cryptocurrencies. It rewards users with MTL for purchasing through MTL, sending it or holding money on the application.
Metal’s blockchain is built on the Proof of Processed Payment consensus protocol which allows the unique incentivizing mechanism for transacting or holding money through the application. One of the aims of the Metal network is to make cryptocurrencies accessible to the larger public and boost its adoption. The Metal Pay application is designed to help the network fulfill its aim.
Future outlook
Although the Metal project is one of the lesser-known projects in the market, it has an interesting proposition that gives it a good future outlook. It provides near-instant transactions with nominal fees and an attractive incentivizing mechanism.
The Metal token has lost some of the bullish momentum it has started portraying during the weekly window. Currently, the token stands at a price level of $3.35 while the price has declined by 4% during the day. Metal stands at a market rank of 199 in terms of capitalization.
According to the estimates of Wallet Investor, the MTL token is expected to be trading hands at $6.10 in a year’s time. The price is expected to gradually climb upwards and reach $16 in five years’ time. Digital Coin Price suggests similarly bullish projections. The year-end price is projected at $4.97 while the price by 2026 is expected to be at $10.9.
