What is the MegaHoot Vault?
The MegaHoot Vault is a dual purpose platform where the continued development is increasing the utility of the platform within the MegaHoot ecosystem. This continuous evolution is allowing for the Vault to be much more than a secure holder of cryptocurrency but also a repository for various types of digital assets ranging from digital documents and digital art to non-fungible tokens and more to come.
One part of the MegaHoot Vault is the Cryptocurrency Index, this is a listing of various cryptocurrencies, their pricing, volume, circulating supply and other useful information for the general public. This information is given as a courtesy to members and visitors of the MegaHoot Vault alike.
The main part of the MegaHoot Vault encompasses an end to end encrypted network that was specifically developed for digital assets to be held across the entire MegaHoot ecosystem. This allows for a member to hold their digital assets such as the XMG Coin, Pecu Novus Coin, virtual backgrounds and overlays for VeroHive, sensitive DocuMega documents, digital artwork and other digital assets for gaming in the near future all in safekeeping. Due to the Vault being blockchain enabled every digital asset deposit that is made into a members vault registers on their own blockchain as well as the blockchain of the digital asset.
The digital safekeeping box is what allows MegaHoot members to place their digital assets in cold storage and keep them protected. The safekeeping box can hold digital documents, digital art, NFT’s, approved crypto assets and more over time.
The XMG Digital Asset Network’s XMG Coin is also integrated into the MegaHoot Vault so that MegaHoot members can easily see their holdings, transactions and perform transactions directly from the MegaHoot Vault if they choose to.
The XMG Fintech Digital Payment Portal is part of MegaHoot’s financial technology systems, as is the MegaHoot Vault. XMG Fintech is a crypto payment gateway that was specifically created for the MegaHoot ecosystem but with the ability to scale to incorporate other digital assets and be used on a variety of different platforms if deemed suitable for the growth of the company.
The MegaHoot Vault brings forth transparency, security, privacy and immutability, and the ability to show that a digital asset is truly owned by a MegaHoot member is a way that we protect the MegaHoot community against fraud.
A key feature is the proprietary escrow system, it allows a member to place a digital asset into escrow if they are transferring it to another party and have a need to set a release date of the digital asset until payment is received or for a host of other reasons. This is extremely useful if a transaction is taking place such as a digital document transfer, non-fungible token that represents a hard or digital asset happening and more.
So if a MegaHoot member is selling a non-fungible token they have the ability to place that token in escrow until the payment is received and the buyers have the same option. Members have the option to either solely use the MegaHoot Vault as a means to transfer digital assets on a peer to peer basis or use it as a tool to conduct end to end transactions using the XMG or Pecu Coins utilizing the XMG Fintech Digital Payment Portal.
All MegaHoot members enjoy the peace of mind that their digital assets are safe, secure and protected against fraud.