The Xmoneta ICO is currently going on with their website showing they've already passed the soft cap.
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Let’s face it, the number of people that use some form of instant messenger several times a day is just crazy so the idea of creating a messenger app that also takes advantage of the blockchain technology that is now out there is perhaps not that crazy.

Into the fold comes Xmoneta, and they are a company that claims they have created a mobile messenger app that has also incorporated the blockchain and cryptocurrency into the equation. So, are they able to do this, and how exactly is it going to work?

What is Xmoneta?

The new project offers an encrypted mobile messenger app that can be used for either business or social reasons. They plan on using the security of the blockchain to make the exchange of messages completely safe and impossible to hack, which could prove to be a rather useful selling point compared to a number of other messenger apps that are out there.

However, you will not just be restricted to sending messages as they do say that you will also be able to purchase products via the app as well with those exchanges also taking place on the blockchain. Not only that, but you can pay bills, send money to people, the list is rather extensive so it does seem as if the messenger idea is only a small part of everything that they plan on offering. Throw in audio calls via a secure channel, a music player, the ability to read e-books, this is potentially something that is very impressive.

Telegram competitor for the cryptocurrency messaging niche?

The Telegram messaging app has grown quickly recently with it now becoming the messaging app of choice for cryptocurrency investors. With the Xmoneta project generating so much interest from cryptocurrency investors this should be one area that they could dominate.

The Technical Aspect.

The technical side of things is going to be important with an app of this kind especially with them stating how the messages are encrypted and safe. For this, they are using a decentralized approach and are building their entire platform on Ethereum, which is going to prove to be rather useful with the way in which they hope to scale up rather quickly.

The messages are secure as they are going to use a decentralized network that pushes multiple messages at the one time. They also state that they will de-construct and then re-construct the data while the messages are also placed anonymously on the public ledger.

To connect, the information is sent via the blockchain to the other user with both being identified by their user details just in the same way as if you were sending cryptocurrency via the blockchain. In other words, they have simply tweaked the current way of doing things to fit their own individual needs. Of course, you can use the token to purchase things or you can also send money between users via an instant transaction, which also runs along the exact same lines.

The Advantages of Xmoneta.

Xmoneta website.
If we look at it carefully, then there are a number of different advantages that come with using Xmoneta as an instant messaging app. Clearly, the security and the fact that the blockchain cannot be broken is huge as is the fact that it is decentralized and offers anonymity. This is not something that the likes of Skype or Whatsapp are able to offer, so for those that value their privacy, then this could become a huge selling point.

Also, the speed at which the blockchain can push messages goes beyond anything else that is out there, so this does bode well for people really getting the ‘instant’ part. The other things associated with the app are just add-ons that simply make the entire app that bit more useful than it would have perhaps otherwise been but it adds nothing to the messenger aspect.

Key team members

One of the most important things when investing into an ICO is to check that the team behind the project is strong. This certainly seems to be the case here, all the key members of the team seem to have a lot of experience with various online ventures.

The Financial Aspect of the Xmoneta ICO

Studying the financial side of things provides us with somewhat of a different insight into the cryptocurrency and the project in general. Of course, every transaction that takes place on the platform will only be using the cryptocurrency created by Xmoneta, but that’s hardly a crime.

They are looking at producing 1,000,000,000 tokens and only 20% of them are going to be made available for the sake of the ICO. This is quite low compared to the industry average, but once again that is not something to be concerned about.

For the ICO, they are looking at accepting not only ETH, but also fiat currencies, LTC and BTC. There is a soft and hard cap in place with the soft cap being set at 500 ETH and the hard cap at 8,000 ETH. At this moment in time, there’s no mention of there being a minimum investment level for you to be concerned about, which could attract additional investors.

Also, the exchange rate for the token sale has been set at 1 ETH equating to 2,000 XMN providing you with an idea of the value that they are placing on their own tokens.

Buying with the following link will also get you an additional 3% bonus on top of any other bonuses:
Website here

How will the funds be used?

In their whitepaper they provide a detailed explanation of where they plan to use the funds that they raise from their tokens sale:

• 1,000 ETH will be used to develop the mobile app.
• 2,000 ETH used to reward affiliates to attract new users to the platform.
• 3,000 ETH for advertising.
• 4,000 ETH for their marketplace.
• 5,000 ETH to develop their chat bots.
• 8,000 ETH for their exchange platform.

Token Utility

The new XMN token will fuel all transactions on the platform. In their whitepaper they make it clear that these are utility tokens and shouldn't be viewed as securities. This should mean that the ICO is safe from running into legal problems.
Token holders will also receive a 10% bonus if they hold their tokens for over a year, this provides a clear incentive to hold on to your tokens and will hopefully mean that the price should rise.

Xmoneta Conclusion

The people behind the new project are looking at the likes of Telegram and the way in which it was able to take a substantial part of the market away from more established apps such as WhatsApp in a short period of time for inspiration. This is understandable, and the fact that they can really push the security aspect is clearly going to be a huge winning point for them over other apps. Also, if they stress that it is a decentralized approach making it less likely that anything can be hacked or exposed, then you can see why businesses would be drawn to it.

With so many people seeking new IM apps all of the time, it should not be that difficult to get people across to this platform especially with the addons that come with it. That is clearly a marketing ploy to make them seem more attractive and it could very well work if they get their marketing correct from the outset.

From an investment point of view, this could fly simply because of the sheer number of people that use these apps and are fed up of their security being put at risk. Using that as their strength will mean that the 20% of tokens that are available for the ICO could increase in value quite considerably and in next to no time as well.
Check more details on their website