"We look at ethereum like AOL or Myspace."

This is how David Gobaud, co-founder and CEO of Mobius Network, explains why his startup has launched its initial offer of parts on the Stellar network instead of the ethereum, the most popular blockchain for symbolic sales.

The comment highlights the growing interest in some corners of the crypto community for faster and cheaper payment pathways, while etheric, like bitcoin, is striving to make it easier for customers to access the payment system. ; evolve.

Mobius announced Thursday it raised $ 39 million in the ICO – one of the largest recent token sales and the largest by far on the Stellar platform. The company only accepts the local currency of Stellar, lumens (XLM), in exchange for its own token, known as the mobi.

According to Mobius, the sale reached its all-time high of $ 39 million after just two hours, selling 35% of the 888 million Mobi tokens.

Tour participants included Angel Chain Capital, Nirvana Capital, and WaltonChain, an Internet of Things (IoT) start-up that builds devices that allow manufacturers and retailers to track channels. supply, according to the firm's website.

In addition to this support, Gobaud pointed out that Mobius deployed its decentralized app (dapp) alongside its ICO, saying it was important for the company to release the live code early, to prove that the project was real.

But what is perhaps the most striking in this sale, is the choice of the blockchain.

Although latency or cost is not necessarily a hindrance for some blockchain projects, they are for the case of using Mobius. His thesis is that traditional technology companies will soon want to integrate cryptocurrencies and possibly a decentralized network.

Mobius' white paper compares the work of the company to that of Stripe, the darling of Silicon Valley that has reduced the integration of credit card payments to a few lines of code (and has incubated Stellar in its early stages). Mobius aims to do the same thing for cryptocurrency payments and, later, for the publication of data to be exchanged on decentralized marketplaces.

The company therefore needed an IoT-compatible network capable of quickly managing large amounts of transactions and data, with little or no cost.

The goal is to "facilitate the connection of every device, developer and data stream to the blockchain ecosystem," Gobaud said.

Yet while the vast majority of OIC-funded projects were run on the Ethereum, using the ERC-20 standard, this blockchain suffered from backlog of transactions and fluctuating fees pendulum type.

Therefore, after starting his ethereum project, Mobius moved to Stellar, the protocol created by Ripple co-founder Jed McCaleb. Like Ripple before it, Stellar was designed specifically for frictionless payments.

Compromise

The scale challenges of Ethereum have become acute in recent months. The problem moved Kik to announce that he would be relocating his kinship tokens of the ethereum in December 2017.

While the ethereum developers recognize and are working on the problem, the Mobius team could not wait for a solution of scale, says Gobaud.

"We were building our dapp store on ethereum and then we connected with Jed," he said adding:

"We realized that there was no way that Ethereum could manage our technology: it was too slow, too expensive and too precarious … We see all these other projects with these immense problems "

Gobaud highlighted the problems associated with the safe deployment of smart contracts. "These are complete Turing programs, but they are really hard to write," he said, pointing to the first and second multi-million dollar losses in the ether. Solidarity was not a language built with security in mind, Gobaud argued.

In Stellar, "we think we've discovered this underutilized technology, really unknown," Gobaud said.

For example, Stellar supports multi-signature portfolios at the protocol level, which makes it much easier for developers.

But Stellar has its disadvantages, Gobaud admits. This is not complete in Turing, for example, but Mobius is happy to make this compromise in exchange for much faster and cheaper deals.

What's next?

The white paper deals with many cases of the use of the Mobi token and its protocol, but the simplest to explain is that of payments.

For anyone who believes that cryptocurrency will become more and more attractive to online businesses, the company that facilitates crypto transactions as quickly as possible is able to recover profits with a long tail.

If Mobius can make accepting crypto payments a matter of adding a few lines of code, it would be compelling if online businesses begin to accept cryptocurrency more widely.

Talking to Gobaud, however, payments seem more like a way to sell the traditional internet on blockchain integration.

He is very excited about the market that will come when companies will begin to publish their data in decentralized markets, selling them via secure, live auctions that he calls the "NASDAQ for data".

Gobaud said:

"More advanced or more technical users are really excited about the data market because they are aware that obtaining data in the blockchain ecosystem is really complicated."

The data generated on blockchain protocols are easy to check because they are closed environments. But real world data can not be checked on a blockchain without help.

That's why Mobius is building an Oracle proof of participation system, so data flows with real-world data can be reputations as trusted sources over time . With the system, to put its data on the market for sale, a company should prove that it holds a number of tokens.

If this market grows, the cost of staking should be more than offset by revenue from the sale of data over time. This can be anything from data on the road conditions of a smart vehicle or the local weather of a sensor above a commercial building.

To reach the point where the decentralized web has an ecosystem rich enough to support these markets, the team is also working to solve other small problems faced by developers on the way. For example, he created a universal connection protocol, in which a website can verify that a terminal contains a token that allows its user to connect to a service.

Some sites might want to go further and use tokens to incorporate the level of access from someone to a site. So, on a platform like Reddit, a user may only need one token, while a moderator may need a few tokens to connect with more advanced permissions.

In the meantime, developers are already building dapps for the Mobius store, but these are small deals to date, small video games or prediction games. It's work at the experimental level, but Gobaud said that he was encouraged by the fact that people already want to work with it. The websites on Geocities were also rudimentary, but they were a stepping stone to the web we know today.

He concluded:

"It's like the early days of the Internet."

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which owns an interest in Ripple.

Mobius delete the image via Shutterstock

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Disclaimer: This article should not be considered as investment advice and is not intended to do so. Please conduct your own thorough research before investing in a cryptocurrency.