After having reached its $5M soft cap despite a turbulent market, MODL token sale is set to conclude.
Module blockchain, the Hong Kong-based cryptoeconomic ecosystem for decentralized file storage, is set to conclude its MODL token sale. The company has recently surpassed its soft cap of $5M, which means that it is well on track to continue the development of their proprietary blockchain.
Module’s mission is to democratize the blockchain community by removing barriers to easily accessible crypto mining and cloud sharing. The project takes advantage of unutilized storage space on millions of users’ mobile and IoT devices around the globe, putting it to work mining cryptocurrency and offering a P2P cloud data storage service.
The ecosystem is driven by their MODL tokens which can still be purchased via the company’s ICO and which will also later be awarded to users based on the amount of space they offer for sharing, the length of time the space is used, and the number of verified transactions.
In addition to mining cryptocurrencies users will be able to develop Dapps (decentralized apps) on the platform, which is seen by many as a viable competitor to such Dapps platforms as EOS and Stellar.
Module’s revolutionary new type of cloud-based data storage featuring client-side encryption will enhance fraud protection as sensitive information is encrypted and divided into fragmentary pieces of data to be stored in a swarm of unconnected segments on mobile devices. The platform also offers a powerful solution for market professionals who want to create smart contracts and organize a cost-effective yet robust data warehouse. It is expected that as global devices’ storage capacity grows over time so will the scope of services offered by the platform.
Toshiki Toshiro, the project leader, is quite pleased with Module’s progress:
“We are well aware that the current crypto market situation may be a little shaky, and we greatly appreciate our user community’s enthusiastic support at this challenging time of transition. Naturally, everyone wants their efforts to be appreciated, and so far our ICO progress demonstrates that our backers find our product compelling and beneficial. And this is a great honor!”
To find out more about Module and its ICO please go to modltoken.io