Ensuring compatibility
We purposely built Mushroom (our ticker symbol MUSH) around an ERC-20 token, deployed on the Ethereum network. A blockchain system based on the use of tokens, which can be bought, sold, or traded. Ethereum was launched in 2015, and since then it has become one of the driving forces behind the popularity of cryptocurrency. In the Ethereum system, tokens represent a diverse range of digital assets, such as vouchers, IOUs, or even real-world, tangible objects. Essentially, Ethereum tokens are smart contracts that make use of the Ethereum blockchain.
One of the most significant tokens is called ERC-20, which has emerged as the technical standard used for all smart contracts on the Ethereum blockchain for token implementation. Plenty of well-known digital currencies use the ERC-20 standard, including Maker (MKR), Basic Attention Token (BAT), Augur (REP), OmiseGO (OMG), and now Mushroom (MUSH).
As an ERC-20 token, Mushroom (MUSH) can function similar, in some respects, to Bitcoin, Litecoin, and any other cryptocurrency; ERC-20 tokens are blockchain-based assets that have value and can be sent and received. The primary difference is that instead of running on their own blockchain, ERC-20 tokens are issued on the Ethereum network. Luckily, because ERC-20 tokens are so popular, there are many different options for wallets, making Mushroom (MUSH) accessible and operational to so many people around the world.
A decentralized peer-to-peer cryptocurrency
Designed to allow users to process transactions through digital units of exchange called Mushroom (MUSH). An alternative to government fiat currencies like the U.S. dollar or the Euro or pure commodity currencies like gold or silver coins. Mushroom is not controlled or regulated by any central authority. Payments made with Mushroom are processed through a private network of computers linked through a shared ledger. Each transaction is simultaneously recorded in a “blockchain” on each computer that updates and informs all accounts. The blockchain serves as a distributed ledger and obviates the need for any central authority to maintain such records.
Some of the benefits
User Autonomy – The primary draw for users, and indeed one of the central tenets of Mushroom more generally, is autonomy. Digital currencies in general allow users more autonomy over their own money than fiat currencies do. Users are able to control how they spend their money without dealing with an intermediary authority like a bank or government.
Discretion – Mushroom purchases are discrete. Unless a user voluntarily publishes his Mushroom transactions, purchases are never associated with personal identity, much like cash-only purchases, and cannot easily be traced back. In fact, an anonymous Mushroom address that is generated for user purchases changes with each transaction. This is not to say that Mushroom transactions are truly anonymous or entirely untraceable, but they are much less readily linked to personal identity than some traditional forms of payment.
Peer-to-Peer Focus – The Mushroom payment system is purely peer-to-peer, meaning that users are able to send and receive payments to or from anyone on the network around the world without requiring approval from any external source or authority.
Mobile Payments – Like with many online payment systems, Mushroom users can pay for their coins anywhere they have Internet access through various DEX (Decentralized Exchanges). This means that purchasers never have to travel to a bank or a store to buy a product. However, unlike online payments made with U.S. bank accounts or credit cards, personal information is not necessary to complete any transaction.
Accessibility – Because users are able to send and receive Mushrooms with only a smartphone or computer, Mushroom is available to populations of users without access to traditional banking systems, credit cards and other methods of payment.
Information is taken from other sources including Ethereum.org
