Blockchain

Mingo Reaches Agreement with Hedera on Use of Hashgraph Technology

Guest Author | March 15, 2018 | 11:52 am
mingo
Blockchain

Mingo Reaches Agreement with Hedera on Use of Hashgraph Technology

Guest Author | March 15, 2018 | 11:52 am

The crypto messaging and e-commerce project Mingo, a multi-channel messenger app with big plans for expansion, and Hedera, the creator of hashgraph technology, have agreed to collaborate on the creation of a fast, new generation messaging platform that will include a plugin economy, e-commerce, and cryptocurrencies.

Mingo is a free message aggregation app designed to reduce missed messages and delays in response time, and eliminate confusion due to message overload by combining messages from your contacts into one convenient conversation stream, regardless of which messenger they may be using. The app currently supports seven messengers (Facebook, Twitter, Skype, Slack, Steam, Discord, and IRC Cloud), but the team at Mingo plans to add others in future such as Telegram, WhatsApp, Instagram, Google Hangouts, and more. The app will automatically arrange your messages by contact name across all these messengers, making Mingo the only place you will need to look to find all your messages.

In addition to the message app, Mingo also plans to build a plugin economy on its platform. Merchants and service providers from a wide variety of industries (hotels and hospitality, gaming, shopping, mobile operators, and transportation services to name just a few) will be able to use plugins to sell their goods and services to the Mingo community. Platform users will be able to opt-in to the plugins they want, without being forced into those that they do not. The goods and services sold will be denominated in MingoCoin, the platform’s utility token. The use of the MingoCoin will streamline the purchase process, with the token being the only means of payment required while introducing cryptocurrency to the mainstream market in the process. A small portion of the revenue generated will be shared with the Mingo ecosystem for its services.

To make sure that these plans can be brought to fruition, Mingo has decided to team up with Swirlds. The hashgraph consensus algorithm developed by Hedera Co-Founder and CTO Leemon Baird is both fast and secure. Its totally new protocol allows decentralized communities to reach a consensus on the order in which transactions occurred. Once the consensus has been reached, no single individual can manipulate the established order. This, together with its transparency, makes hashgraph secure. It is also fast. Its ability to process 250,000 transactions per second far surpasses bitcoin’s limit of seven transactions per second.

“In today’s hurry-up world, everyone is looking for speed,” says Mingo CEO Joe Arthur. “However, speed must not come at the cost of security. That is what makes Hedera’s technological solution perfect for our ecosystem. It is an ideal blend of both qualities, and we are pleased to be able to apply the power of the hashgraph protocol to help take Mingo to the next level.”

The cooperation between the companies does not stop there. Ken Anderson, the CTO at Mingo and an experienced system designer and Solidity smart contract developer, recently joined Hedera as Lead Developer Advocate, thereby putting the partnership on even firmer footing.

 

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