What is MCL? What are the Features?
MCL is a native blockchain, native cryptocurrency project inspired by the work of Post-dated Checks and Promissory Notes. For those who don't know, let me tell you. Although the check books for Post-dated Checks are issued by banks, it is an interest-free credit system that is an alternative to the banking system. Tradesmen and businessmen run an alternative credit system in the economy by issuing credit with post-dated checks while selling or purchasing goods and services.
THE PROBLEM OF BOUNCING CHECKS AND OTHER PROBLEMS
Although postdated checks and promissory notes are good instruments, their biggest problem is the bouncing, or non-redemption. This system, which is based on trust, collapses on top of each other with the domino effect, especially in times of economic crisis. MCL is a project developed to solve the non-repayment problem in such credits.
MCL MAIN FEATURES
MCL stands for Marmara Credit Loops in English.
MCL or Marmara Coin is the first native Turkish coin based on a use case in real economy. The good thing is that the system can be used universally anywhere in the world as an international payment system for import and export.
As you know, cryptocurrencies are not widely yet used in the real economy for the exchange of goods and services. MCL, on the other hand, was developed for use in the real economy. You will see its power when you use it.
MCL is a project inspired by the way Post-dated Checks and promissory notes work, and its origins date back to 2013. Based on the "Town Story" told during the Ufuk Hattı TV programmes.
It is an Open Source and International project. It has been developed using Komodo technologies, which is considered Blockchain of Linux, to develop software in the Blockchain World.
Starting from 2013, 4 workshops were held at the university with academicians and business people from Marmara University and other universities, and after the needs were defined, software development was carried out.
The test chain studies of the project, which was developed in Marmara University Engineering Faculty Open Innovation Laboratory, were carried out in 2019 and the chain started its life on January 17, 2020 under the name of Marmara Blockchain.
MCL is Turkey's first Open Source native cryptocurrency project to be mined/staked based on the Proof of Work and Proof of Stake. It was designed to work on real economy.
MCL, also known as Marmara Coin, is based on the idea that buyers and sellers earn block rewards during shopping.
MCL can be staked on a simple MiniPC: No energy consumption and no need for expensive computers, as in other mining Bitcoin etc systems. It can be produced with a second hand PC, the computer you use in your daily work, or even a mini PC you buy especially for this purpose.
You can convert the MCLs you produce with Komodo, Bitcoin and other currencies on the Decentralized Exchange AtomicDEX, and convert them into Lira for purchasing goods and services directly on the market, trading jewelers or elsewhere.