Mochimo – Quantum Resistant Cryptocurrency Review

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One of the greatest threats to all current encryption algorithms, including the ones used by the vast majority of cryptocurrencies are impending quantum computers. How will they affect Bitcoin and other cryptocurrencies? Is there a solution? Bear with us as we scratch the surface of quantum depths and attempt to answer and provide insight to those concerns. The following intro will serve as a prelude to a fully fledged Mochimo – quantum resistant cryptocurrency review.

Quantum Supremacy

Quantum computing is one of the most important advances humanity will experience and will greatly accelerate improvements in many fields. Problems that latest and most advanced supercomputers solve for decades will be solved in hours. If you are looking for a bit more details about how this magnificent technology works, read this article. The same thing will happen with cryptocurrencies; private keys could be derived from public ones in minutes. Satoshi Nakamoto, the founder of Bitcoin, is the largest Bitcoin holder. He didn’t spend any of them (yet). Imagine Satoshi wallets which are estimated to hold around 1m Bitcoins (or a bit less by latest research) being compromised. Market panic would commence immediately.

It is not a question if but when will the leading players in the space, D-wave, Google and IBM build working quantum computer that will outcompete traditional supercomputers. It will be the start of a new era. At least that’s what one group of experts claims. How serious is the quantum threat at this point is hard to tell. But one thing is clear; quantum supremacy hasn’t been achieved yet. Currently, available quantum computers are not capable of doing any single task more efficiently than standard binary supercomputers. This relatively recent article provides some insights into the current state of quantum computers in plain English.

The End Of Bitcoin?

Before we get into possibilities of breaking the SHA256 hashing algorithm, it is important to grasp basic concepts behind hashing. Hashing is a process that converts any input data into a dataset of fixed size – a hash. Each hashing algorithm has its own mathematical formula which enables the process. The key thing is that the same process cannot be reversed. It is not possible to generate an original string of data from the hash itself. If quantum computers become a reality, this wouldn’t be true anymore, and most current hashing algorithms would be rendered useless. In simple words, all Bitcoin addresses would be vulnerable to theft.

You are probably wondering if there is a solution or if Bitcoin is doomed? Satoshi Nakamoto, the creator(s) of Bitcoin provided a brief answer to this question:

If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.

– Satoshi Nakamoto

The Bitcoin is far from doomed and solutions exist. But it is important to take this threat seriously and start preparations so that Bitcoin isn’t caught off guard. The best solution would be to fork Bitcoin to a quantum resistant algorithm before quantum computers break the encryption. It would avoid many potential problems. But it will probably be difficult to pass and reach consensus before an actual quantum attack happens.

The hardest part of implementing quantum resistance will be coordination. Any change on Bitcoin, even simple ones are hard to pass due to Bitcoin’s immutability and resistance to change. To quantum proof Bitcoin, a hard fork would be required, the majority of Bitcoin nodes would need to reach a consensus and switch to new consensus rules containing the quantum resistant hashing function. But it is important to note that this threat would be real and it would be in everyone’s interest to work together and make the change as quickly as possible. Otherwise, the Bitcoin network would quickly fail. Hence, this kind of hard fork shouldn’t be too hard to pass, unlike most others that failed. The question remains if the split will be unified or the network will branch to various chains containing different hashing algorithms. Another difficulty would be determining the exact point at which snapshot should be taken. It will cause many disagreements from both a technical and social perspective. Until the snapshot and hard fork are completed, the Bitcoin network will be offline for a while until the consensus is reached. This could have severely damaging economic implications in many aspects, depending on how much society would rely on Bitcoin at a time.

Only time will tell if quantum computers can seriously wound and split the Bitcoin community or make it stronger than ever. Let us know if you think Bitcoin can just shrug this threat off and continue dominating the space. In any case, when the time comes, quantum resistant cryptocurrencies will rapidly gain popularity, at least temporarily. Hence, we decided to review Mochimo – quantum resistant cryptocurrency that is ready today. It was interesting watching its slow but steady growth over the past year.

Post-quantum cryptography is significantly different than the current one. It is unknown how will any of the currently available quantum resistant algorithms work in practice. As has been shown many times in the past, theoretical solutions often fail miserably when put to the real world test. Until quantum supremacy is reached and quantum proof solutions are battle tested, we cannot consider them fully secure.

Mochimo

Mochimo is a quantum resistant cryptocurrency written from scratch in C. Mainnet went live in June-2018. The code is open sourced and available on their GitHub. However the code isn’t fully free to use, you can use and modify the code, but it must be solely for the benefit of Mochimo. The code cannot be used to improve existing or create a new cryptocurrency. The full license can be found here. This goes against the spirit of crypto and is not something we like to see.

On the other hand, we understand the reasons behind this decision. It is up to users to decide if they like this or not. The decision to implement this kind of license might prove to be beneficial for investors. Other developers can’t just fork Mochimo, split the community and take a piece of the pie.

Why Mochimo?

Why does the world need Mochimo is best explained by quoting Mochimo creator:

One of our advisors is a guy named Alexei Marchenkov. Google him when you get a chance.  He runs Bleximo, a Draper backed startup, and he’s literally a Ph.D. quantum physicist. His company creates purpose-built quantum computing ASICs, as opposed to general purpose quantum computers.  Speaking with Alexei two months back (September 2018), he said he figured it will take about 4 to 5 years from now (2018) before QC ASICs can break things like ECDSA.  It’s really a matter of time and improving the fabrication process – no real technical hurdles remain. This is the new Moore’s Law race I was mentioning earlier. It’s coming.

We are really looking forward to seeing how will that prediction age. If the time doesn’t eat up both of us, we will post an update with the results in four years.

There are three distinctive features of Mochimo that set them apart from their competitors:

  • Quantum resistant algorithms
  • ChainCrunch based scaling
  • Trigg’s Mining Algorithm

Quantum Resistant Algorithm

Mochimo uses a quantum resistant algorithm called WOTS+ and SPHINCS signatures. Algorithm implementation has been audited by its original creator Andreas Hulsing. See the screenshot taken from the Mochimo whitepaper below.

Mochimo Quantum Resistant Algorithm

ChainCrunch

ChainCrunch is a patented technology developed by Mochimo. In essence, it keeps blockchain size under control and prevents unscalable ledger growth. In order to fully sync a new node, only the blocks that lead to the first previous NeoGenesis block are required. Since the space between two NeoGenesis blocks is one aeon or one day worth of blocks the sync is always quick and completes in minutes. This technology is very important, and it allowed MCM to lift any block size limits which enables solid scalability improvements over time as technology and performance of nodes increases. Currently, Mochimo should be capable of handling around 1,000 tx/s with 55 block finality. But 2 blocks (confirmations) are considered as secure in practical terms due to the way Mochimo’s contention system works.

Trigg’s Mining Algorithm

Original mining algorithm was developed in-house. Main features include fixed transaction fee and first in, first out (FIFO) transaction processing. In comparison, Bitcoin uses the highest bidder wins system and transactions with the highest fee are prioritized. It was also supposed to be FPGA and ASIC resistant, but the algorithm has been “broken”, and FPGA’s are currently somewhat dominating the network. This will be fixed with the upcoming algorithm revision that is set to be released with the 2.4. network update. It should be much more resilient to FPGA mining this time.

For more details regarding Mochimo unique technology stack written from scratch, consult their whitepaper (link is at the end of the post). Some consensus algorithm and connection management details are particularly interesting.

Let’s discuss Mochimo current state of decentralization briefly. There are currently 45 full nodes online. Most are based in the USA while a few others are spread across other continents. Look at those nodes displayed as a cool “quantum flower” below. Kudos for the nice visualizations.

Mochimap Visualisation

Github Activity

Without getting into details that are hard to understand for most users (including ourselves), we will just post Mochimo contributions overview and compare it to Bitcoin. The comparison seems appropriate since their ultimate goal is to overthrow Bitcoin when quantum computing becomes a reality. Let’s see how active are 6+ Mochimo developers/coders and how they fare against the army they set to beat.

Mochimo Github activity in the past month:

Bitcoin Github activity in the past month:

Here is activity comparison of the two largest contributors of Mochimo and Bitcoin respectively:

Lastly, below we can see the contributions graph since the creation of the Github repository, Mochimo is shown on the first screenshot:

Mochimo can’t touch the big daddy when it comes to developer activity at the moment, but it clearly shows that Mochimo team is actively working on the project. Protocol updates are released roughly 2-3 times per year given the current track record. Changelog and release notes can be found here.

Legal Compliance

Mochimo is probably the most legally compliant PoW launch coin we have seen. Every single step has been carefully assessed and made sure that it satisfies strict US regulations. Even bounty participants are required to complete the KYC process before they can receive payments. Mochimo cryptocurrency is a property and flagship product of Adequate Systems (ADQ), LLC. The company is represented by Duane Morris, an international law firm. ADQ is a Delaware for-profit software company that has been founded by Mochimo creator – Matt Zweil. In the future, the company will work with other businesses to produce other products (including other cryptocurrencies) based on Mochimo proprietary code. Hence the restrictive license Mochimo uses. If the code were fully open source it would be free to use for all and ADQ wouldn’t be able to charge for its services/license grants. But they assured us that Mochimo will remain the main cryptocurrency and that they do not plan to create other competing currencies.

Coin Metrics

Circulating Supply:  ~798,000 MCM
Max Supply: 76,533,882 MCM
Inflation: steadily increasing for the first 4 years
Marketcap: ~$853,860
Price: ~$1.07 | 20,560 satoshis
Premine: 6.34%

Founders Block Reward: none
Mining Algorithm: Trigg’s Algorithm
Block Time: 5.63 minutes
Transaction fee: 0.0000005 MCM
Current Block Reward: 12.1 MCM
Network Hashrate: 6,091,364,083,735 Haiku/s

After approximately 22 years of mining, the total supply will be reached, and the block rewards will cease. Given the extremely low transaction fee, it is unclear what will be the incentive for miners to keep mining and keep the network alive. Let’s look at an example. Mochimo has a fixed transaction fee of 0.0000005 MCM. Let’s assume it reaches a price of $1200 per one MCM. That would roughly make it reach parity with current BTC market cap. Let’s also assume it reaches the current daily volume of BTC transactions which is in the 350,000 range. When you add all that up, daily transaction fees would be around $180 which is tiny and won’t pay any mining bills. Good news is that we don’t have to worry about that for a while. Twenty-two years is a long period, and hopefully, the team comes up with another solution as it appears that they didn’t think this through.

Mochimo founder, Matt Zweil, has written an interesting article regarding Mochimo supply and emission curve. It can be read here. But before we continue, it is important to lay out some metrics. Mochimo has a targeted block time of 337 seconds which results in about 256 blocks per day. Block reward emission slowly increases on a per-block basis for the first four years. Exactly 0.00015 MCM each block. Why four years you might ask? Four years is the (optimistic) target where Mochimo team expects that quantum supremacy will become a reality. The maximum block reward will be around 59 MCM. Then, it reverses and starts to decrease much more slowly for the next 18 years, until the final block reward of 5 MCM is mined.

Now let’s get back to the article. Mochimo founder envisioned Mochimo as a medium of exchange rather than the store of value or investment vehicle. He strongly discourages speculative investors, calls them “bad” for cryptocurrencies and tells them to “find the door”. We do understand the arguments, but Mochimo wouldn’t be half as strong if speculative investors that consist at least half of Mochimo community left. Also, when speculative investors provide free marketing, Mochimo founder showed quite the opposite attitude. In fact, he did everything in his power to win a poll organized by Aladdin Crypto – the crew that focuses on grading and promoting the next 100x coin. See the screenshots below.

Hence we were very surprised to see hostile attitude expressed towards speculative investors in the article that was written a few days later by the same person. We would like to see more consistency in the public image Mochimo is trying to convey.

Premine

Total premine is 6.34% of the total Mochimo supply. The premine is split into two parts. First, the larger part (4.18%) will be used as a developer compensation. Each developer can cash out 5% of his compensation every month until August 2020 when contractual restrictions cease to exist. The largest chunk of these coins (roughly 2m) is locked until January 2024 when Mochimo founder will receive them as a payment for countless hours he spent working on MCM. That is an extremely long lockup period for crypto standards, and we applaud his confidence in the longevity of this project. When we say that coins are locked, we don’t mean that they are actually locked through a smart contract. Mochimo doesn’t support smart contract, so that isn’t possible. There aren’t any formal assurances other than Founders word and demonstrated transparency.

The second part (2.16%) of the premine is managed by Mochimo foundation. That part of premine is also used to fund various bounties. Distribution of premine funds is transparently outlined in the wiki article and can be verified through block explorer snooping.

Below is the original outline of premine wallet addresses:

1919999.9999915 | 0xde77cd98749f9ed61662a09cdf59db62
1550000.0000000 | 0x9dadcfe26af2650c331d60b698e0bd65
128000.00000000 | 0x24e0138a7397f95762730806f0877953
128000.00000000 | 0x3c4e2c8609b514f00697d190a3a66c43
128000.00000000 | 0x55282701f905085c672aa31b557b8425
128000.00000000 | 0x5e637cf806ebdece0037cb2d69123320
128000.00000000 | 0x7fda17284c842a579b3aa028ab815586
128000.00000000 | 0xad59c52563c8ef00bb590db9d1bdb89a
128000.00000000 | 0xf8ec0fdfc4d49ee21f8b3ec0bd1f3a47
64000.000000000 | 0x808c18f31adb9202589a118f47aaf142
64000.000000000 | 0xb574d55e303f0d1b5c5cd956104f2045
64000.000000000 | 0xf06e131eed533e43c23c38235d7ce91e
32000.000000000 | 0x044fb461200599ab688bd6430ed2a10b
32000.000000000 | 0x4c43a63635d85f1cf2f7b3edf3991f98
32000.000000000 | 0x78d4189cfdad82378a1662a5872dc0fb
32000.000000000 | 0xa72d50647dedd0fca84ad96de69e4df7
32000.000000000 | 0xaf4603f8872375568b855bb1fce765e4
32000.000000000 | 0xee2635169a097c51e24541b435602fbb

As far as we know, the second part of the premine isn’t locked anymore and can be spent as needed. The founder explained early on how he plans to use the coins from the part of premine that belong to Mochimo foundation. Since then, Mochimo foundation has been expanded and is now consisted of a three-member governing board.

Mining

Mochimo mining started as CPU only solo mining. However, it didn’t take long for custom, private GPU miners to be developed. They quickly drove the hash rate, and CPU mining became obsolete. It took a while for official GPU miners to be developed and released. It was a bumpy road, but Mochimo finally made it. GPU miners are available for both Linux and Windows. As of recently, AMD GPUs are supported, and mining is not exclusive to NVIDIA GPUs anymore. The pools are also available, and the era of solo mining is over. The team is actively fighting and sticking to its ASIC/FPGA resistance goal. There are rumors that some FPGA company is mining Mochimo for the past month or so. The screenshot below shows that they take this never ending battle very seriously:

Mochimo FPGA champaign

At the moment, the vast majority of hash rate is spread over two pools. One of them is controlling more than 51% of the network hash rate. This issue is plaguing most young cryptocurrencies and needs to be taken more seriously. If you want to be safe, wait for 55 confirmations when finality is reached, and deeper chain reorganization is no longer possible.

Mochimo pools

Another important thing to note is that Mochimo adjusts its difficulty on every new block. Mochimo founder explained it and gave a good analogy with Bitcoin. He definitely demonstrates high confidence in his work. See the screenshot below.

Last but not least, Mochimo mining produces unique Haiku poems for each block. Instead of calculating random hashes, you are letting your GPU’s express their inner artistic souls. Keep refreshing Mochimo block explorer or spam the Discord bot for the 22 years long stream of Haiku. Here is one we like:

MCM Haiku

Website

Mochimo website looks nice and simple. It has a very readable minimalistic mix of black and white sections which alternate along with blue hovers. The problem is that the website leaves strong out of date impression. It seems that it hasn’t been updated since the mainnet launch. A year after the launch there is still “The MainNet is LIVE!” message displayed and the roadmap is out of date – last entry is for Q4-2018. Even the most simple thing we always check when reviewing websites isn’t kept up to date. At the bottom of the website, copyright year hasn’t been changed and still displays the previous year. Those are simple things that show does the team care about the public display. Given the large team, it’s hard to find an excuse for not keeping things updated. The website is the face of the project and should be regularly updated.

Whitepaper

The whitepaper outlines what has been achieved so far and what is the purpose of Mochimo cryptocurrency. It starts with a brief history of MCM, how it started, what are its main goals and who created it. Then it continues to expand on core features that make Mochimo interesting. They are explained in an easy to understand language without too many technical jargon and difficult to grasp math. But if you are looking for exact details of how specific parts work, you will have to read the code. Overall, the whitepaper is written professionally, and it gets a thumbs up from us. However, it could be expanded with more information about team members and future plans.

Mochimo Core Team

Mochimo team was a bit challenging to analyze. On their website, the team has full profiles with a detailed description of their competence and skills. However, we like to recheck that information via LinkedIn profiles or similar sites. We did find most of the team profiles on LinkedIn. Unfortunately, they aren’t filled out completely and don’t consist of the same information we gathered from the Mochimo website. So, it is a bit hard to get a decent picture. Since every team likes to brag on their website about the skills they possess, let’s try to get an objective picture of their actual expertise by combining their website and LinkedIn profiles. Mochimo has seven members of the core team listed on the website, and one of them is actually an A.I. robot.

Founder of Mochimo is Matt Zweil. He is also the lead architect of the project. Previously, he worked as a services engineer at a lot of companies. On his LinkedIn profile, we can see Cisco and Juniper mentioned, while the site mentions multiple Fortune 500 companies, such as Comcast, Verizon, CDW and others. At Cisco, he managed to get a CCIE (Cisco Certified Internetwork Experts) certificate in Routing and Switching. This certificate is for an expert level engineer, which among other things enables one to navigate through complex network infrastructures. This is probably one of the things, which helped Zweil build up Mochimo in the way he did. Also, he worked as an executive director at a Safe Exchange Tampa. Under his current employment, it says that he works as a director at Period Poverty Florida, which is a non-profit organization. What we find odd is that under his volunteer experience he has listed Mochimo and this is hardly a volunteer job. Considering blockchain and cryptocurrency experience, Zweil said he had been involved in digital currency since 2008.

Next in line is Terry Walters. He works in the field of system design and analytics on the Mochimo project. He attended universities in Alaska. However, there is no information about any kind of degree from those universities. Even though he started his professional journey as a pilot, he reforwarded his route to design very soon. He worked as a designer at HNTB, American Consulting Engineers of Florida and KCI Technologies, Inc. After that, he worked as a programmer and an analyst at Jacobs Engineering for seven years. This work was followed by working as a CEO of Cruy Consulting Group, LLC. Currently, besides working at Mochimo, he works at Lochner as a software and technology “evangelist” which we assume is a R&D department. Even though on the website under his profile we can read that his knowledge and expertise spans a wide array of technologies including industry-leading blockchain technologies, we didn’t see anything connected to blockchain in his LinkedIn profile, except Mochimo.

On the position of the principal API architect is Tim Cotten. His first job experience is in Electronic Arts as a lead game developer. After that, he briefly worked as a designer, and that was followed up by his work in KaBOOM!, as a director of online development. At the moment he is working as a chief technology officer at Agilla Pro. Under his LinkedIn profile, he has no employment in Mochimo mentioned.

Mark Baldwin works in Mochimo as a senior security engineer. There are over 400 LinkedIn profiles under that name, and we didn’t manage to find his profile, if it even exists. So, there is no way for us to double check any info that concerns Baldwin. Under his description on the site, we can see he has a lot of experience in technology and security. In Mochimo he works on software and hardware security testing, and he helps with the improvement of the infrastructure. Unfortunately, due to the lack of a LinkedIn profile, we cannot check his previous work experience.

Another member of the team is Michael Nov. Nov works on the position of operations and corporate development. His profile we managed to find without any problems. He has a BA in economics and logistics, MA in supply chain management and an MBA in strategy, decision science, and finances. Under his experience, we can see he worked in a lot of fields which consider management and team development. Currently, he works at a few positions, one of which is a startup mentor and advisor at the New York University. According to his previous experience, it is only logical to employ him at such a position in Mochimo. Like most of his colleagues, he also doesn’t have Mochimo listed under his employment. As far as we can see, he has no previous blockchain experience, but taking into consideration his position, such experience is not crucial for him to work properly on the project.

Another member of the team we’d like to mention is Jordan Reiser. He works on user experience and interface design. Reiser has a BA in screen arts and culture. It is hard to get a proper picture of him because he has dabbled in so many fields over the years so we will focus on the latest work experiences. A lot of his experience is connected with technology and design, for example in Havas Worldwide, Sparks Grove and Digital Influence Group. Currently, he is working at Sparks Grove as a senior manager and at Mochimo. Under his website profile, it is mentioned he worked with a lot of Fortune 100 companies, such as Coca-Cola, Sony, T-Mobile, Hershey’s Chocolate and more. However, there is no note of that under his LinkedIn profile, and we can’t really confirm it.

A member that recently joined Mochimo team and is not listed on their website is ₿itcoin Dad, as he is known by his Twitter profile. If you are not familiar with his work, you can check this interview on Medium. He is a crypto veteran and a trader/DYOR-er who manages to find a lot of hidden crypto gems. Mochimo isn’t the first crypto project he officially works on – he is also an advisor on Veil Project. Due to his anonymity, we are not able to provide additional information.

If we take a look at our analysis of the team, we wonder if we were too harsh, but it is hard to be objective when you can’t access and verify all the information about the people who work on the project.

Competitors

There are quite a few cryptocurrencies that are competing in the quantum resistance category. Probably the most well known (highest market cap) is IOTA. But it’s hard to compare the two since IOTA uses different (far from decentralized) technology and is targeting different use case. Then there is also QRL. Here is a nice and simple recap (source) of the mechanism used to achieve quantum resistance on QRL blockchain:

QRL makes use of a new type of hash-based signature tree called an Extended Merkel Signature Scheme, or XMSS. A Merkel Tree built using XMSS provides users with multiple single-use signatures. In simple terms, you get one public key that remains the same, but many different private keys that can only be used once. QRL evades the threat of a quantum attack by constantly generating new single-use private keys.

But MCM direct competitor is SNOW. Both share similar features/goals (quantum and ASIC resistance) and have a comparable market cap. MCM seems to be leading the way currently, but we will refrain from giving the final appraisal since we haven’t analyzed SNOW thoroughly.

Wallets

Mochimo currently has two wallets. Cli wallet for Linux which is packaged together with a miner. And a GUI wallet written in Java that is in beta stage. There are no mobile wallets available.

Mojo Wallet Opening

We will focus on Mojo wallet since cli wallet is far from user friendly. When you open Mojo wallet, you are greeted with a welcome screen offering you to create a new wallet. Wallets are stored in .mcm files which you need to backup and store in a safe location. Unfortunately, there is no standard seed phrase which you can just write on a piece of paper and secure. One wallet can have many separate accounts that can be exported individually. Account public address is a huge string of text and is not friendly for copying and sending around. Hence there are Tags which are much shorter and serve the same purpose. So once you create a new wallet, you need to go to a “new” tab, expand addresses pool which can take a bit, enter the desired name, click on generate random tag arrows and finally click on “Register” button. That will generate a new account which you can use to receive and send MCM. You might get lost in the process, but MCM wiki articles come to the rescue.

Mojo Wallet Inside

Another strange issue that bothered us for a while was that on the first glance, there is no way to copy your tag/address to the clipboard. But it is actually possible, just not very intuitive – you need to double click on Tag, and it will be copied to the clipboard. The wallet is functional, and since it is written in Java, it works across all operating systems. But there is a lot more work to be done. The design reminds us of Windows XP days, and the whole wallet creation and the backup process takes too many steps. Plus it is not very intuitive for new users. But hey, we are talking about beta software here. We might come across as arrogant, but a year old currency should have a more polished wallet. If the Mochimo’s team were smaller, we would be much more lenient in this regard.

Exchanges

Mochimo has a peculiar relationship with exchanges. It is due to their persistence to remain legally compliant and avoid making any mistakes that might cost them in the future. The below screenshot demonstrates it quite (un)clearly.

Mochimo is currently listed on a few low-key exchanges. All listings were made by the exchanges themselves, without assistance from Mochimo team members. Majority of the volume is located on Citex, but most of it appears to be fake and a product of wash trading. MCM is not listed on CMC but has been recently listed on Coingecko.

Social Media

Mochimo is active on various platforms. They have a Twitter with 940 followers and post announcements and updates fairly regular. Another platform they utilize is Medium. However, they don’t have a lot of posts there. This year they only posted one article. The best place to get all the information, regular updates and establish contact with Mochimo team members is their Discord server. Currently, they have around 1500 members on Discord. It is the best place to get any kind of information, update or question answered. Team members are very helpful and ready to answer inquiries. Especially AcroTiger who is very kind and deals with all issues quickly and professionally.

Recent Achievements

When assessing the quality of a specific project, it is important to backtest if they are following and reaching the goals from their roadmap. Unfortunately, Mochimo doesn’t have updated roadmap, so backtesting is not possible. Instead, we checked what they accomplished in 2019 so far. This also isn’t an easy task as their announcements are spread across multiple channels which makes them difficult to track. Be warned that we will probably miss a few things. Organization could definitely be improved in this regard. Hint: weekly/monthly blog posts describing recent developments could do wonders. Anyways, let’s start.

In January 2019 they released a dev-tools repository on Github. Public versions of Mojo wallet and Windows miner were also released around that time. Bounty payouts started in January, but there were significant KYC delays. In March three new members joined Mochimo team as core contributors. At the end of March, the first exchange listing happened, but the team didn’t take part in that. In April we saw continuous improvements made to the Windows miner and most importantly, 2.3. Mochimo protocol release containing many improvements and fixes. This included a redesign of Mochimap and new block explorer features. The upgrade went smoothly, and no issues occurred. Along with the update came the updated Mojo wallet but we haven’t noticed significant changes. Next up is highly anticipated API release and another update that should break FPGA mining.

Conclusion

This Mochimo review turned out to be much longer than expected, and it took a long time to compile. Mochimo is built on a solid base but is set to accomplish a seemingly impossible task. We are looking forward to watching how it develops and if their predictions turn out to be true. If all pieces of the puzzle connect perfectly, maybe they’ll have a shot at replacing Bitcoin someday. Do you think MCM ultimate goal is doable or nothing but a dream? Are you afraid of quantum computers breaking most of the encryption systems we rely on a daily basis? Or you are looking forward to all the benefits this incredible technology might bring? Share your thoughts with us on Twitter.

Mochimo Resources

MyAltcoins team,
Petar & Ana

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