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Catching Up With MVL And The Migration Of TADA Ride-Hailing App From Ethereum To Tezos

MVL is a data collector and provides a mobility ecosystem that utilizes blockchain. MVL provides several mobility-related services. The MVL Foundation operates TADA, which offers several services including a ride-hailing service.

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MVL

Collecting data and redistributing that data to applications that make use of big data is a huge industry worldwide. All types of data are collected worldwide, through software in cars and mobile phones.

A specialized market in this industry is the data collection and distribution of that data for the vehicle and transport industry. This data contributes to accurate current traffic information, car performance, safety, and much more.

MVL  is a data collector and provides a mobility ecosystem that utilizes blockchain. MVL provides several mobility-related services.

MVL collects and distributes data from drivers that are participating in the MVL mobility platform. That data can include mileage, driving behavior, deriving habits, location, and more. Traditionally, users of most software unknowingly provide their data without getting anything in return.

MVL allows users to earn by providing that data: as an incentive for users to participate in the MVL ecosystem and provide their driving data, MVL tokens can be collected.

Services

The MVL Foundation operates TADA, which offers several services:

– Ride-hailing service, a blockchain-based, zero commission ride-hailing service. The most well-known ride-hailing services are Uber and Lyft. TADA enables a ride-hailing platform with 1 million users up to date and was launched in 2018.

– A delivery service that supports TADA drivers so they can provide delivery services at times when vacancy rates are high. This allows TADA drivers to spend their working hours economically most efficiently.

– truck matching platform that manages orders, fees, and vehicles in real-time for successful business logistics. 

– Fresh market, a service that connects to TADA delivery and delivers fresh groceries from wet markets to customers’ places.

– E-TukTuk, a battery station and electric TukTuk service

– TaaS, a service that supplies software for various companies, which plans to utilize TADA platforms to operate their own business with the payment of service fee.

In all services, MVL driver data is collected from TADA participants and redistributed to TADA applications. In turn, this allows a better prediction of events and a more economically efficient business. 

MVL also provides an incentive system for TADA users through MVL token distribution.

Migration of the TADA ride-hailing service from Ethereum to Tezos

“MVL uses Ethereum currently to store all data. However, due to Ethereum’s high fees and transaction processing speed issues, MVL is planning to use Tezos as a better alternative.”

Currently, MVL is in the process of migrating records of data to Tezos testnet. This month or the next, MVL expects to go live on Tezos mainnet.

Other services will follow in a later stage so they too can benefit from the ever-improving benefits that the Tezos network has to offer. 

“After testing, stabilization, and evaluation, we will seek ways to move other TADA services to Tezos.”

MVL tokens

MVL tokens are the incentive system for people to join the MVL network and provide data in exchange for value in the form of MVL POINTs.

The corresponding MVL POINTs can be exchanged for MVL tokens when the user wants at a specific rate. MVL tokens are registered on Ethereum. These tokens can currently be migrated to the Binance chain.

MVL will soon provide a feature where users can migrate MVL tokens from both Ethereum and Binance chain to Tezos.

Since these tokens are already distributed and have been through price discovery on their current chains, it’s impossible and undesirable to enforce a mandatory migration of MVL tokens.

“It’s up to users’ preferences. There will be tokens migrated to Tezos. But if users prefer to keep their current MVL tokens registered on Ethereum, it is not mandatory to migrate to Tezos.” 

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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