Transactions
Mammoth’s business model is contingent on fostering a vibrant ecosystem and economy designed to stimulate reward transacting participants. Tokens are mapped to one corresponding transactions so early adopters of the Mammoth token can use them in our ecosystem as we continue to develop.
Mammoth uses a chained hashing algorithm that is used for calculations and aims to become a universally accepted rewards cryptocurrency accepted by multiple merchants. Mammoth can be mined by anyone with the capability to mine for cryptocurrencies and then rewarded for the work done. As the Mammoth ecosystem matures, there are three major participants in the Mammoth token economics: users, network supporters (nodes), and the developers.
Mammoth is a decentralized market-based economy where products and services are produced and exchanged between participants by the exchange of tokens accepted within the network. The Mammoth token utilizes the rewards economy and the inherent misalignment of incentives that existing centralized economies create. To make it a functioning blockchain economy, tokens and points will form the methodology of exchange, together with established processes, that determine the nature of transactions between platform participants and the value of the token.