ICO Spotlight | Mira - Tearing Down Barriers To Entry And Speeding Up Cryptocurrency Mass-Market Adoption
VISION AND VALUE PROPOSITION
If you are like me, then you didn’t instantaneously understand blockchain or its potential application across virtually every sector of the economy. For me, blockchain was mysterious and it didn’t immediately “click.” I saw blockchain as another technical mystery that I had to read a book to understand. That was when Bitcoin was just making headlines when it hit $100. It took several years and Bitcoin’s price to hit 2,000 to finally get me to take a harder look at what’s going on. After months of reading on steemit I finally was able to see the big picture. But even then, it took time to familiarize myself with how to buy/sell/trade cryptocurrencies. I had to figure out the best way to get fiat into the market, I had to understand trading pairs, exchanges, wallets, and mining options.
In sum, understanding and operating in the cryptocurrency world takes time and it is not simple or convenient enough for a person to hit the ground running. I talk a little about the subject in another one of my recent posts. On top of that, current options have their weaknesses, as wallets and exchanges are subject to hacking, fraud, government regulation, etc.
Those issues are precisely what Mira will help solve by offering a simple, reliable, safe, and convenient way in which to buy, exchange, transfer, and store cryptocurrencies.
HOW DOES MIRA WORK?
Mira’s solution is very easy to grasp. Mira will operate a software suite whereby a person has an option to pick one of three types of MiraBox containers. A container is simply an encrypted file that can only be opened using a password, and (if applicable) meeting smart contract conditions.
The following are the three (3) types of containers that MiraBox offers:
- NominalBox – a container for just one (1) cryptocurrency. This container is the easiest and cheapest way to buy cryptocurrencies.
- MultiBox – a container for multiple cryptocurrencies and the option to add a document up to 25MB.
- SmartBox – a MultiBox with smart contract integration. A smart contract is basically one or more set of conditions that are embedded that must be met before a SmartBox container can be opened and accessed.
Since MiraBox containers are files, they can be kept on your computer, sent by e-mail, or saved on any device that stores files.
MIRABOX USE CASES
MiraBox containers can easily be used to satisfy and array of everyday cryptocurrency transaction situations. Here are just a few:
Buy one or more cryptocurrencies.
Send a MiraBox to pay bills.
Send a gift with no smart contract conditions.
Send a gift with smart contract conditions such as a time restriction before the recipient can open it.
Ensure that container value won’t be accessed until condition have been met. There are many instances where I liquidated an investment against my own better judgment. SmartBox would help me stick to my trading discipline. In the case where conditions are met and you don’t need the liquidity, then buy another SmartBox and reset the conditions.
Ensure the right person receives one or more containers with SmartBoxes that have a smart contract condition that only allows a person from a specific e-mail or other type of account to be able to open and access it.
Any situation where you think you might need arbitration. Mira has built functionality where sender and recipient can enter into a contract and both will need to agree to the start and end of it. If one party doesn’t agree they can ask for a Mira Arbitrator to adjudicate the case. Mira arbitrators must hold a certain amount of Mira tokens in a MiraBox to adjudicate cases.
The above use cases are only a handful of examples. As users encounter other situations in their lives, one of the three options will be able to satisfy just about any situation that arises.
MIRA SOFTWARE SUITE V1.0
Mira software suite v1.0 will consist of the following:
Miralab.io – online solution to handle NominalBox sales and MultiBox and SmartBox creation as well as MiraBox management to include unpacking, MiraBox transfers to MiraWallet and optional storage.
MiraWallet PC – desktop application that can work with MiraBox when Miralab.io is not an option.
MiraWallet Mobile - smartphone application for iOS and Android.
MiraNET - Ethereum-based Mira blockchain.
MIRA TOKEN UTILITY
MIRA token will be used to pay for MultiBox and SmartBox transactions. If you hold a certain amount of MIRA token you have the option to serve as a node, smart contract conductors, and/or arbitrators, and receive bonuses in MIRA tokens.
ICO DISTRIBUTION DETAILS
CIRCULATION: 24,000,000 at ICO
TOTAL CIRCULATION: 30,770,000
TOKEN: MIRA
TOKEN TYPE: ERC 20
ACCEPTED CURRENCY: BTC/LTC/ETH/DASH
| Pre-ICO | 40% | 1 MIRA = 0.60 USD |
| ICO Week 1 (FEB 2018) | 30% | 1 MIRA = 0.70 USD |
| ICO Week 2 (FEB 2018) | 20% | 1 MIRA = 0.80 USD |
| ICO Week 3 (FEB 2018) | 10% | 1 MIRA = 0.90 USD |
| ICO Week 4 (FEB 2018) | 0% | 1 MIRA = 1.00 USD |
ROADMAP
| NOV 2017 | Pre-ICO |
| FEB 2018 | ICO |
| AUG 2018 | Launch of MiraWallet.alpha without smart contracts |
| OCT 2018 | Launch of MiraWallet and MiraLab |
| DEC 2018 | Connecting Smart Contract visual designer, running a test version of a mobile application |
| FEB 2019 | Full completion of the work cycle for the first version of Mira |
| AUG 2019 | Launch of a user service. Version 2 |
| DEC 2019 | Smart contract laboratory. Launch of a test version of the developer platform |
| FEB 2020 | Release of the Version 3 |
| DEC 2020 | Launch of the warranty service |
FINAL THOUGHTS
The final sentence in Mira’s whitepaper reads:
“We just want to make user-friendly product that we will use ourselves and that will be used by the crypto community”
“User-friendly” resonated with me. Everyone and their grandmother is familiar with computer files. They can be easily stored, transferred, and sent attached to e-mail. Mira has managed to combine something that everyone is familiar with and has access to with cryptocurrency – a difficult and long learning curve for most.
With Mira, someone can quickly and easily enter the cryptocurrency world without having to first figure out how to operate an exchange or digital wallet. That knowledge can come later, but the goal (if I wanted a faster cryptocurrency mainstream adoption rate), is to eliminate anything that may make a person give up on entering the market.
When people come to me and ask the best way to enter the cryptocurrency world I tell them all the same thing: be warned that it will take a while to get familiar with the environment. I suggest that you just read my blog and steemit articles for a few weeks, while signing up on XYZ exchanges.” I can just see their eyes glaze over.
With Mira, I will be able to probe a person’s level of interest. If a person just wants to quickly get into the market and not be a heavy trader or doesn’t want to deal with exchanges then Mira is the ideal solution because they bypass the need for digital wallets and exchanges all together.
As a result, I can see that Mira can appeal to a broad range of people that just want something that they can quickly understand and use. I am excited to follow Mira’s progress and hope they succeed because it will speed up mainstream adoption.
For more information I encourage that you read Mira's whitepaper.
REFERENCE LINKS
Mira Website
ICO Details
Whitepaper
FAQ
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Traversing the Cryptosphere,
Kryptonaut
That's an interesting way for their system to work. I am not sure if it makes it more simple or a little more confusing. We'll see where this one goes. I'll have to look more into this one.
It may depend where a noob starts. If they start with Mira they may not think its confusing. It certainly is less daunting than having to familiarize yourself with the crypto world. We'll see if Mira can market and make it catch on. I can see myself use Mira with noobs that don't want to get very deep in crypto. If others understand the crypto world and have addresses, then I will just send them crypto directly to the address they specify (or use Mira) whatever they want. Perhaps they will want me to send them a MiraBox to send to one of their noob friends :)
Thanks for reading and your thoughts.
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