In a statement that can transcend Bitcoin, Mezo, a new initiative by Thesis, has been just announced. It aims at making Bitcoin broader users either by geography, assets or expectations. The upgrade of the Lightning Network is supposed to, at least partly, tackle some of the long-standing problems that have stopped the bitcoin adoption in commerce, which are the complex purchase process and lack of usability, by making the user transaction experience simpler and the utility of Bitcoin superior to that of traditional money.
Bitcoin’s impact and mainstream adoption barriers
For a long time now, Bitcoin has been the poster boy for digital money owing to its capacity to grant financial independence, personal freedom, and a sense of belonging to a fringe community. It is a tool that is becoming a new central bank where individuals can have a chance, for the first time, to manage their own money as they want without any interference from the central financial authority. However, these favorable factors didn’t mean that Bitcoin shouldn’t have its obstacles on the way to going mainstream. Even though this model already turned 15 years old today, the representation of private keys for transactions, the user-friendliness of the tools, and lack of network effects made it hardly used by the masses.
Mezo: Bridging the gap
However, these barriers are not being held back as we have stepped forward through the implementation of Mezo. This platform has a target market extending far beyond the usual scope of technological innovation; it is the first user-friendly platform that anybody who undertakes economic activities irrespective of their level of expertise in Blockchain technology can use. Through its strict attention to the economic desires of Bitcoin users, custodians, miners, and general holders, Mezo is looking to be the enterprise to finally contribute to the establishment of a main Bitcoin Economic Layer, which shall successfully pave the way for the alignment of Bitcoin’s core technological characteristics with the economic aspirations of the Bitcoin community.
The economic layer
The key factor of Mezo Economic Bitcoin Layer is the conceptual foundation stone of the Mezo economy, by which the growth mechanism revolves around the concepts of wealth creation, social capital, and Bitcoin network sustainability. Unlike the mostly\technocratic take on space that the movie was promoting at the time, the approach this time is another new paradigm. The emphasis that is the Mezo project is not only on the advanced technology uses but on the daily application of the Bitcoin infrastructure services to real life.
Among the core novel features of Mezo is the Proof of HODL ad consensus algorithm that it uses. This system allows the users to earn rewards for ensuring successful network security wherein they put their funds into BTC or MEZO tokens. If users move more Bitcoin units with them, their HODL score will be also greater, and just like that, they become committed to long-term plans of Bitcoin.
Conclusion
The project of Mezo seeing the daylight represents a turning point in bitcoin history. By providing desirable solutions of usability and economic vitality, Mezo has a chance to greatly extend Bitcoin position in the global economy. In the course of the gradual evolution toward a more decentralized and user oriented financial structures, initiatives like the Mezo become more and more essential to finally make the investors see the potential of Bitcoin for millions of people worldwide
