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The MegaHoot Vault “MVault”, originally developed for the Bitcoin network and then repositioned for the Pecu Novus network, is a multi-purpose system where the continued development will increase the utility of the platform beyond the MegaHoot ecosystem. The system features end to end blockchain enabled encryption with proprietary security protocols in place to protect members. This continuous evolution is allowing for the MVault to be much more than a tool for safekeeping of cryptocurrency, but more of a repository for various types of digital assets such as digital documents and non-fungible tokens with both cold storage and escrow capability. An interesting feature of the MVault is that it allows for the creation of NFTs directly on the Pecu Novus Blockchain Network with no coding required. The MVault was integrated into the Pecu Novus wallet and terminal for both in-wallet and offline cold storage of digital assets created on the Pecu Novus Blockchain Network, giving members a simple way to hold their digital assets offline.

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The MVault’s digital safety deposit box feature was created to make it simple for a member to store their digital assets offline with no coding involved. It was taken a step further with the integration of the MVault into the Pecu Novus wallet and terminal in 2024, as it allows for stakeholders to choose to hold their digital assets in both in-wallet and offline cold storage with the click of a button. This simplicity gives members a feel of what they are used to working with in traditional finance but even simpler but with all the bells and whistles of decentralized finance just not the complexity of it, all the heavy lifting was done already to make this possible. 

The digital safety deposit box will be utilized for various types of digital assets not just cryptocurrency, as various digital asset products are created using the Pecu Novus Blockchain Network it will increase the utility of the MVault. So this means that important digital documents can be registered on the blockchain and then held in-wallet or offline for security reasons. The utility of the MVault will continue to evolve over time as continuous upgrades take place.

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Smart contracts are used for each transaction that involves the MVault but it is much different as there is no coding involved. This means that all the hard work was done on the backend so that members have a simple path to storing their digital assets in cold storage or even creating NFTs and soon tokens on the Pecu Novus Blockchain Network. The integration of the MVault into the Pecu Novus wallet and terminal gives this simplicity to members so they can focus on building and not worry about coding. But make no mistake there will be a tool for advanced users that like to code smart contracts as well, It will allow for the creation of simple or complex smart contracts using Typescript and not a complicated programming language. This will promote inclusion across a greater range globally.

 

In promoting inclusion and fee reduction for smart contracts, the MVault features a simple contract that allows for PECU coins, tokens or NFTs created on the Pecu Novus Blockchain Network to be held in escrow with a specific release date all with a click of a button. In the near future any digital asset created using the Pecu Novus Blockchain Network will be able to be placed in escrow just as simply. This is the evolution of the MVault and MegaHoot’s continued commitment to developing tools to make decentralized finance as simple as possible for all to use. 

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The MegaHoot Vault “MVault” brings forth transparency, security, privacy, immutability and simplicity. It was created to give members a simple but very secure way to handle their digital assets beyond cryptocurrency. This allows for the MVault to be used in the financial, legal and real estate industries simply for not only securing documents but also for adhering to anti-money laundering and know your customer laws through the MegaHoots Digital Identity Verification system that will be integrated directly in the MVault in 2024. 

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