The MegaHoot Vault “MVault”, originally developed for the Bitcoin network and then repositioned for the Pecu Novus network, is a multi-purpose system where the continued development will increase the utility of the platform beyond the MegaHoot ecosystem. The system features end to end blockchain enabled encryption with proprietary security protocols in place to protect members. This continuous evolution is allowing for the MVault to be much more than a tool for safekeeping of cryptocurrency, but more of a repository for various types of digital assets such as digital documents and non-fungible tokens with both cold storage and escrow capability. An interesting feature of the MVault is that it allows for the creation of NFTs directly on the Pecu Novus Blockchain Network with no coding required. The MVault was integrated into the Pecu Novus wallet and terminal for both in-wallet and offline cold storage of digital assets created on the Pecu Novus Blockchain Network, giving members a simple way to hold their digital assets offline.
MVault Digital Safety Deposit Box
The MVault’s digital safety deposit box feature was created to make it simple for a member to store their digital assets offline with no coding involved. It was taken a step further with the integration of the MVault into the Pecu Novus wallet and terminal in 2024, as it allows for stakeholders to choose to hold their digital assets in both in-wallet and offline cold storage with the click of a button. This simplicity gives members a feel of what they are used to working with in traditional finance but even simpler but with all the bells and whistles of decentralized finance just not the complexity of it, all the heavy lifting was done already to make this possible.
The digital safety deposit box will be utilized for various types of digital assets not just cryptocurrency, as various digital asset products are created using the Pecu Novus Blockchain Network it will increase the utility of the MVault. So this means that important digital documents can be registered on the blockchain and then held in-wallet or offline for security reasons. The utility of the MVault will continue to evolve over time as continuous upgrades take place.
Smart Contracts
Smart contracts are used for each transaction that involves the MVault but it is much different as there is no coding involved. This means that all the hard work was done on the backend so that members have a simple path to storing their digital assets in cold storage or even creating NFTs and soon tokens on the Pecu Novus Blockchain Network. The integration of the MVault into the Pecu Novus wallet and terminal gives this simplicity to members so they can focus on building and not worry about coding. But make no mistake there will be a tool for advanced users that like to code smart contracts as well, It will allow for the creation of simple or complex smart contracts using Typescript and not a complicated programming language. This will promote inclusion across a greater range globally.