Mirror World Network Rating Raport
TokenInsight has recently published the rating report for Mirror World Network，which has received a exchange rating of CCC with a outlook Positive.
1. PROJECT ANALYSIS
The Mirror World Network project was launched in August 2016 and registered in Singapore. The project is an application system that combines blockchain and distributed storage technology, and it aims to build a global multi-chain distributed storage ecosystem. The project adopts DPoS and weight-based Proof-of-Credit consensus mechanism in addition to the existing PoS consensus to improve the dispersion of the network. Users are divided into miner, watcher, storer and prover, and they are responsible for mining, maintaining, storing and proving respectively. The project uses data fragmentation encryption technology to ensure security and privacy, and builds MW-PAIR and MW-UTXO credit frameworks to meet audit and regulatory requirements. Overall, the consensus mechanism of the project is relatively reliable and the technology is feasible.
At present, the project has developed more than 10,000 miner nodes in the world, covering China, the United States, European and other countries or areas. It is expected that a global node network will be established in the future. In addition, as of August 2020, the total number of on-chain transactions has reached 53,000, and the addresses on the entire network has reached 14,000. The development of the project is basically consistent with the technical roadmap, and the future development path is clear in short term.
As verifed by TokenInsight Research, Mirror World Network has obtained ACRA license from the Accounting and Corporate Regulatory Authority of Singapore. As a public company limited by guarantee, it complies with the Singapore company law.
In addition, Mirror World Network has obtained the smart contract audit report issued by LianAn Technology, and the audit result is passed (excellent). Audit scope covers code specifcation audit, business security audit, etc.
2. TEAM ANALYSIS
There are 35 members in the Mirror World Network team, consisting of management team, development team, and marketing team. Developers account for 60% of the team, which is relatively high. The founder of Mirror World Network has rich experience in bitcoin mining and token economic. Most of the team members have blockchain background. In addition, the team will hold 12% of the platform tokens, which will be unlocked in three years. The background of members of Mirror World Network is as follows:
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