MultiWalletCoin – The Wallet With 10,000 Micro-Wallets

Journalist:
Rick Mac Gillis @ManWithNoBrows
August 8, 2014

MultiWalletCoin is today’s Random Coin of the Day for its ability to have one master wallet contain thousands of micro-wallets. That allows for people to be unable to identify your balance. When you pay someone, the coins received get distributed to many different micro-wallets. In theory, this creates loads of dust transactions with potentially higher fees, but it keeps people from being able to see your balance by viewing the blockchain.

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MultiWalletCoin Review

The following information is located on MultiWalletCoin’s website and BitcoinTalk thread.

Maximum coins issued: 30,000,000 MWC + 5% per year
Hash algorithm: X11
PoW or PoS: Both
Is it able to be mined: Yes
Exchanges: AllCoin, C-CEX
Block explorer: CryptoBE
Launch date: August 5th, 2014

What is the coin’s purpose?

MultiWalletCoin seeks to provide anonymity in a new way, creating 10,000 micro-wallets inside one master wallet for its coin. That allows for the coins to be dispersed in a way that makes tracking them more difficult. When one micro-wallet receives a transaction, it initiates transactions to your other micro-wallets. That also allows you to keep your wallet balance private.

What problem does it solve?

MultiCoinWallet solves the problem of having your address’s balance made public. If you’re loaded, but you want to play a pauper, now you’re able to. If you’re a pauper, but you want to play a rich man, well, sorry, but this coin won’t help you there. All joking aside, having your ledger balance made public may be a concern if you’re trying to run a business.

If your business is a mega-corporation accepting Bitcoin and the balance shows an enormous number of bitcoins, you may be holding those funds to pay for massive business expenses such as employee wages, all of your stock, and manufacturing materials. If your address is made public and you’re trying to get investors to invest in your company for a new expansion project, all that investor will see is your balance. Instead of investing in your company, the investor might ask to see where all of that cash is going and try to get you to cut down some of your expenses, but you may not be easily able to do that. You could loose the investor’s money and have to cut your losses.

To avoid this mess, you could manually shift your funds into multiple addresses, but with MultiWalletCoin, this happens automatically.

What are the coin’s future endeavors and how do they plan on achieving those goals?

MultiWalletCoin has a bounty list for thread translations, an Android wallet, a better logo, games involving their coin, and paper and online wallets. If you’re able to provide those, check out their bounty list.

Is there anything else you’d like to say about the coin?

Ten pools are now available for this coin including IPOMiner, and the coin has only been around for two days. If you’re looking to gamble with your hard earned MultiWalletCoins, try play rock paper scissors. You could double your stake.

Disclaimer: I’m not affiliated with MultiWalletCoin or the Rock Paper Scissors game, and I do not own any MultiWalletCoins.

Photo Credit: MultiWalletCoin Logo.

Featured image by Shutterstock.

Last modified (UTC): August 8, 2014 18:38

Rick Mac Gillis @ManWithNoBrows

Rick Mac Gillis entered the world of Cryptocurrencies in late 2013. He is a controversial journalist committed to investigating and exposing the "dirty bits" of the community. With over a decade of experience in LAMP web development with a focus in custom cryptographic security methods and ethical hacking, Rick Mac Gillis understands the need for proper security standards in cryptocurrency.