02/18/2018

MiraLab: Making Cryptocurrency Easier

Introduction
    Miralab wants to make using cryptocurrency easier with a product called the MiraBox, an encrypted container for storing tokens or files that allows users to buy and transfer digital assets with the ease of downloading files. The company offers three types of MiraBoxes: single-currency NominalBoxes, multi-currency MultiBoxes, and SmartBoxes integrated with smart contracts to allow users to set conditions for opening or extracting the box’s contents. The MIRA token will enable users to pay commission fees for Multibox or Smartbox purchases and reward developers, arbitrators, and node operators.

Team
    Team members include CEO Dmitriy Baday, CFO Nikita Novozhilov, CMO Vitaliy Manshin, Business Developer Nadia Shcherba, COO Andrey Skriptsov, and Art Director Misha No. The technical team is led by CTO Ernest Shekolian, Chief dApp Engineer Eugene Babichenko and System/dApp Architect Taras Emelyanenko. Eugene Radchenko and Alexander Ivanov are advisers to the project.

MIRA Token
The MiraLab ICO officially begins on April 1, 2018 but tokens have been available for pre-order since February 1 at a 30% discount with a minimum contribution of 1 ETH or the equivalent. A total of 30,770,000 MIRA tokens will be issued with 24,000,000 released in the token sale aimed at raising $20,000,000. Purchases may be made in BTC, ETH, LTC, or DASH and KYC will not be required. 78% of tokens will go to investors with 15% reserved for the team and advisers, 6% going to a reserve funds, and 1% held for bounties. The company has committed to burning up to 45% of the tokens received as revenue to support the value of the token and reserve funds of both tokens and dollars will be maintained to combat volatility.

Conclusion
The MiraLab Wallet and platform launch is scheduled for October. It sounds like MiraBoxes will provide users with a form of digital cash - easier to spend than having to enter the amount of currency you wish to transfer for each transaction - but having to spend MIRA tokens to obtain the cash seems like a high price to pay for a minimal improvement in terms of convenience. The team will need some high-profile partnerships to support the integration of such a system. To learn more about MiraLab or the MiraLab ICO, please visit their website at https://miralab.io/.

Authored by

Seth Goldfarb

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