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 digital wallet.
One part of the network is the Crypto 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 Vault alike.
The main part of the 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, backgrounds and overlays for VeroHive, sensitive DocuMega documents, Digital Artwork and Mobile assets 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.
It brings forth transparency, security, privacy and immutability, being able to show that a digital asset is truly owned by one of our members is a way that we protect our 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 and need to set the release of the digital asset for a certain date for a number of reasons. This is extremely useful if a transaction is happening that does not involve a crypto asset in the Vault.