Module Blockchain, the platform that makes blockchain and crypto mining technology accessible to anyone anywhere in the world, has just announced that they will extend their ICO until October 31, 2018.
After consulting with advisors and token holders, the company has decided that continuing the crowdsale of the MODL token will ensure that their ICO goals are met. The public crowdsale of the token began on August 1, and was initially scheduled to continue to September 30, with bonuses of up to 15%.
The project has enjoyed considerable attention and success with its ICO to date. More than $2 million in MODL tokens were sold during their private sale phase, indicating that the company was well on its way to achieving its soft cap of $5 million. In July, as the platform made better progress than expected in attracting more venture capital for its business development, it chose to reduce its hard cap from $30 million to $18 million.
However, cryptocurrency markets saw massive price declines in Q3 2018 for all cryptocurrencies across the board. As September comes to a close, though, confidence appears to be returning amongst cryptocurrency buyers.
With the recommendation of their buyers and advisors in mind, the company feels that prolonging the ICO will give potential MODL buyers—who may have shied away from buying tokens for a few weeks—the opportunity to participate in the Module Blockchain platform. Meanwhile, the company says that it continues to negotiate with larger backers who also welcome the ICO extension.
The Module Blockchain platform was designed to provide everyone in the world the opportunity to participate in the cryptocurrency ecosystem, as long as they have a mobile device, laptop or other smart appliance that has extra storage available. Anyone interested in joining the crypto ecosystem can download the easy-to-use platform and start mining cryptocurrency or renting out data storage space on devices they already own.
The project also allows anyone to create their own decentralized apps (DApps) or provide partnership programs’ services. Module
Blockchain likewise offers an innovative new type of cloud-like data storage that allows a client-side encryption protocol they call “secret sharing.”
It’s an enhanced fraud protection mechanism made possible because sensitive information is not only encrypted but also divided into fragmentary pieces of information that are then stored in a multitude of separate places on mobile devices. Any information stored using the platform is virtually hack proof, since it cannot be reproduced with only one fragment.
Importantly, what sets this innovative blockchain ecosystem apart from similar platforms like Stellar or EOS is that it offers equal distribution of consensus across many devices, so Module Blockchain in practice is the only truly decentralized platform available. With a system like EOS, for instance, “digital oligarchies” can be formed because decisions are made in that ecosystem by the largest token holders. That means the bigger block producers have more say in consensus, effectively locking out newcomers to crypto mining.
Module Blockchain, however, truly democratizes the entire process because it doesn’t require any initial hardware investment or specialist software expertise.
To find out more about Module Blockchain, visit modltoken.io.