Wondering how Moviebiz Coin utilizes Blockchain technology and ERC20?

Want to know how this CryptoCurrency works

Moviebiz Coin is a platform where anyone can invest in movies by simply purchasing our coins and using them to invest in any movie you might think is a profit-making one. That money will be straight away given to the Filmmakers to make use of their films. The Return on Investment from the movie will be distributed among the Moviebiz Coin users according to the share of their investments.

Using blockchain technology, MovieBizCoin provides investors, actors, and directors access to fundraising for movies in the most decentralized way. Being a freelance filmmaker, your record before making any movie might be a boost. With the launch of MovieBizCoin, aspiring Directors, Producers, or Actors now have the platform to make inspiring movies and, more importantly, create jobs that will grow within the industry. The MovieBizCoin ecosystem is powered by a $ MBZ token that enables the project to offer many applications. The $ MBZ is an ERC20 token built into Ethereum and designed by Polygon & Binance Smart Chain with the proposed Solana & Avalanche bridge and 2 other layer solutions. A multi-chain token is a scale that has a wide range of cases for use within the ecosystem. Utilizing all available resources, MovieBizCoin is dedicated to helping filmmakers, and independent investors create a secure, fair, and transparent environment backed by blockchain technology.

Till now filmmakers have suffered a lot but everything is about to change. MovieBiz Coin is a Digital Revolution in the entertainment industry.

Moviebiz coin is dedicated to helping independent filmmakers with unique, compelling, and powerful stories or films that make a contribution to society, get their films funded and, create a marketplace where content is showcased instantly to a trusted global community of buyers. 

That is why Moviebiz. funds are for you. Once your ideas are whitelisted on our platform, your projects will then be presented to Moviebiz Coin holders, who will invest in them, relieving you of the daunting task of getting your ideas funded. 

Blockchains are incredibly popular these days. As the name indicates, a blockchain contains information. This technique was originally described in 1991 by a group of researchers and was originally intended to timestamp digital documents so that it's not possible to backdate them or tamper with them.

However, it was mostly unused until it was adapted by Satoshi Nakamoto in 2009 to create a digital cryptocurrency known as Bitcoin. 

How does this work? Each block contains some data like the hash of the block and the hash of the previous block. The stared in it depends on the type of blockchain. 

Each block contains the data depending on the blockchain type and a unique hash is calculated when the block is made. Also, the block contains the information of the previous hash making it into a chain. 

Making even minor changes to any block starts a series of change in every block following it. 

This makes it impossible to tamper or breach any information in the blocks. 

Moviebiz Coin blocks contain the data of investors, filmmakers, and many more making our whole process transparent and impossible to tamper with. 

This certainly creates a well-secure Coin system to use. 

ERC-20 tokens exist on the Ethereum platform and that in itself consists out of a blockchain that is capable of storing transactions and running smart contracts. These tokens are not independent they rely on Ethereum technology. The native currency in the Ethereum network is Ether, but besides Ether, it can also support other tokens and currencies. 

A token is created by a smart contract. This contract is not only capable of creating tokens but also of managing transactions. 

To get some tokens you have to send some of them to the smart contract, which will then give you a certain amount of tokens in return. So, when you want to create your tokens, you write a smart contract that can create transfer them and keep them on track of people's balances. 

ERC20 is a guideline or standard for when you want to create your token. ERC-20 has emerged as the technical standard; it is used for all smart contracts on the Ethereum blockchain for token implementation and provides a list of rules that all Ethereum-based tokens must follow. ERC-20 is similar, in some respects, to bitcoin, Litecoin, and any other cryptocurrency; ERC-20 tokens are blockchain-based assets that have value and can be sent and received. The primary difference is that instead of running on their blockchain, ERC-20 tokens are issued on the Ethereum network.

 

 

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