Mycro: Building the Next Generation Decentralized Microservice Network

What is Mycro

Friends, imagine if you suddenly needed someone to help you move, or you wanted to find a part-time job to earn some extra cash—what would you do? Usually, we might look for an agency or post information on some large platforms. But these methods often come with high fees, long waiting times, and may not be flexible enough. The Mycro project (abbreviated as MYO) is like a “decentralized gig marketplace,” aiming to use blockchain technology to solve these problems.

Simply put, Mycro is a mobile application that allows you to find people nearby who need help in real time, or find short-term jobs that suit you. For example, you can post a task on the Mycro app, such as “walk my dog” or “fix the faucet,” and Mycro will match you with people in the community willing to complete these tasks. Conversely, if you want to earn some money in your spare time, you can also find these tasks on Mycro and complete them. It’s like a smart community mutual aid platform, allowing service providers and seekers to connect directly, eliminating intermediaries.

Project Vision and Value Proposition

Mycro’s vision is to “unleash the power of local communities” and become the world’s leading real-time task matching platform. Its core value propositions include:

• Eliminating intermediaries: Traditional gig platforms often charge commissions as high as 30%. Mycro uses blockchain technology to reduce these fees significantly to 0-5%. It’s like exchanging services directly with your neighbor, saving the middleman’s fee.
• Instant payment: On Mycro, you receive payment immediately after completing a task, instead of waiting weeks as on traditional platforms. It’s as convenient as getting cash right after finishing the job.
• Empowering individuals: Mycro aims to let people regain control of their time and enable everyone to benefit from blockchain and cryptocurrency.

Technical Features

The Mycro project mainly has the following technical features, which together build a decentralized, efficient, and secure gig marketplace:

• Ethereum-based Token

  Mycro’s token MYO is an ERC-20 standard token running on the Ethereum blockchain. Simply put, Ethereum is like a huge public ledger, and ERC-20 is the universal format for recording tokens on this ledger, ensuring MYO can circulate and be traded within the Ethereum ecosystem.

• Peer-to-Peer Network

  Mycro connects users directly through a peer-to-peer (P2P) network, meaning task posters and doers can communicate and transact directly, reducing reliance on centralized servers. It’s like messaging your friend directly instead of going through a centralized company server.

• Smart Matching Algorithm

  It uses an intelligent self-learning matching algorithm inspired by popular dating platforms, aiming to connect task providers with suitable candidates in real time. It’s like a very smart matchmaker who can quickly find the most suitable person based on your needs and skills.

• Smart Contract Escrow Payment

  To ensure fairness and security of transactions, Mycro uses smart contracts for escrow payments. A smart contract is a self-executing contract: once a task starts, the payment is locked in a smart contract and is only automatically released to the task doer after the task is completed and confirmed. It’s like an automated third-party notary, ensuring both parties fulfill their commitments.

• Decentralized Verification and Blacklist Mechanism

  To prevent false information and fraud, Mycro introduces decentralized verification (KYC) and a blacklist mechanism. Users can verify their identity through external partners, and once verified, the “verified” status is permanently linked to the user’s wallet address. If fraud occurs, the relevant user’s Ethereum address can be blacklisted, permanently banning them from using the Mycro platform.

Tokenomics

The MYO token is the core “fuel” of the Mycro ecosystem:

• Token Basic Information

  • Token Symbol: MYO
  • Issuance Chain: Ethereum (ERC-20 standard)
  • Total Supply: According to ICO information, the maximum supply is 100 million MYO.
  • Issuance Mechanism: Mycro raised $9.8 million through an Initial Coin Offering (ICO) in June 2019.
  • Current and Future Circulation: Current market data shows Mycro token (MYO) has a reported circulating supply of 0, with low market activity.

• Token Utility

  MYO is designed as a utility token within the Mycro ecosystem and mobile app. Its main uses include:

  • Payment for services: Task posters can use MYO to pay for task rewards.
  • Earn rewards: Task doers can earn MYO by completing tasks, writing reviews, and referring Mycro to friends.
  • Exchange for services: MYO can be exchanged for actual services on the platform. Accessing tasks also requires MYO, creating ongoing demand for the token.

• Token Distribution

  According to ICO information, the total 100 million MYO tokens are distributed as follows:

  • Private Sale: 26%
  • Pre-sale/Main Sale: 40%
  • User Reward Pool: 12%
  • Bounty Program: 5%
  • Bonuses and Advisors: 8%
  • Team and Founders: 9%

Team, Governance, and Funding

• Core Members

  According to available information, team members include software developer Tobias Pitzschke.

• Funding

  Mycro successfully raised $9.8 million in its June 2019 ICO, with a valuation of about $30 million at the time.

• Fund Allocation

  Funds raised from the ICO were planned to be used for the following:

  • Marketing: 45%
  • Development, Technology, and Salaries: 40%
  • Banking and Cryptocurrency: 8%
  • Legal, Consulting, and Administration: 7%

Roadmap

Below are some important milestones in Mycro’s history and future plans (based on available information):

• 2018: Conducted an airdrop event, distributing MYO tokens.
• 2019: Held an ICO, successfully raising $9.8 million. At the time, the project planned to next develop the Beta version of the Mycro protocol and mobile applications (iOS and Android).
• Current Status: There is currently little detailed roadmap update information on the project’s subsequent progress, and the token’s circulating supply is reported as 0. This may indicate that the project’s development progress or direction has changed, or that activity has significantly declined.

Common Risk Warnings

Investing in any cryptocurrency project carries risks, and Mycro is no exception. Here are some common risks to be aware of:

• Technical and Security Risks

  • Smart contract vulnerabilities: Although Mycro’s smart contracts may have been audited by companies like CertiK, there may still be undiscovered vulnerabilities that could lead to loss of funds.
  • Network attacks: Peer-to-peer networks and blockchain platforms may face various network attacks, such as 51% attacks, DDoS attacks, etc., which could affect the platform’s stability and security.
  • Fraudulent behavior: Despite KYC and blacklist mechanisms, it is difficult for any peer-to-peer platform to completely eliminate fraud.

• Economic Risks

  • Market volatility: The cryptocurrency market is extremely volatile. The price of MYO tokens may be affected by macroeconomic policies, regulatory changes, technological developments, market sentiment, and the project’s own ecosystem development, among other factors. Therefore, predicting its future price is almost impossible.
  • Liquidity risk: Currently, Mycro tokens have a reported circulating supply of 0, low market activity, and cannot be purchased on mainstream cryptocurrency exchanges. This means liquidity is extremely poor and buying or selling may be difficult.

• Compliance and Operational Risks

  • Regulatory uncertainty: The global regulatory environment for cryptocurrencies is still evolving, and future policy changes may impact project operations and token value.
  • Project activity: Existing information shows low project activity and a circulating supply of 0, which may indicate that project development has stalled or is no longer active.

Verification Checklist

To gain a more comprehensive understanding of the Mycro project, you can consult the following information yourself:

• Official website: https://mycrohunter.com/ (the old website may be https://www.mycrojobs.io/)
• Whitepaper: https://mycrohunter.com/assets/downloads/onepager.pdf (the old whitepaper may be https://www.mycrojobs.io/)
• Block explorer contract address: Mycro is an Ethereum-based ERC-20 token. You can view its contract address (e.g.,
  0x5098...b2ea
  ) and its transaction records and token holdings on block explorers like Etherscan.
• GitHub activity: Check the project’s GitHub repository to see code update frequency and community contributions, which reflect development activity.
• Social media: Follow the project’s Twitter, Telegram, and other social media to learn about the latest developments and community discussions.

Project Summary

The Mycro project initially emerged as a decentralized gig economy platform, aiming to solve pain points in traditional gig markets such as high fees and slow payments through blockchain technology. It envisioned a peer-to-peer network connecting task posters and doers via a mobile app, using smart matching algorithms and smart contract escrow payments to improve efficiency and trust. Its token MYO serves as the ecosystem’s fuel for payments and rewards. The project raised nearly $10 million through an ICO in 2019.

However, according to the latest market data, Mycro token (MYO) has a reported circulating supply of 0 and low market activity, and cannot currently be purchased on cryptocurrency exchanges. This may indicate that the project has encountered challenges or its activity has significantly declined. For anyone interested in the Mycro project, it is strongly recommended to conduct thorough independent research and fully understand the potential risks involved, including technical, economic, and operational risks. Please remember, the above information is for educational purposes only and does not constitute investment advice.