MobileCoin – Private & Fast Mobile Payment Blockchain Nodes?

    MobileCoin is a new cryptocurrency designed to be used by everyone in the world. Find out how it works today in our review.

    What Is MobileCoin?

    MobileCoin, found online at, is a digital currency that promises to simplify cryptocurrencies, making them more accessible to everyone. MobileCoin emphasizes simple, private payments, easy key management, and sub-second transactions, among other benefits.

    As the name of the coin suggests, MobileCoin is focused on a mobile audience. The vast majority of the world has a mobile phone. MobileCoin wants to create mobile-focused apps that make it easier to spend, manage, and receive MobileCoin payments.

    What Problems Does MobileCoin Seek To Solve?

    One of the problems with cryptocurrencies is that they have multi-gigabyte blockchains. Bitcoin’s blockchain, for example, is over 150GB in size and growing. This makes it impossible to install on a mobile phone. Mobile applications can’t synchronize an entire multi-gigabyte blockchain.

    Other problems with today’s mobile applications include end users who are ill equipped to reliably maintain secret keys over a long period of time.

    Mobile applications are also subject to the same minutes-long transaction times as cryptocurrencies, which makes cryptocurrencies unacceptable for standard mobile use – say, if you’re standing in a coffee shop trying to buy a coffee.

    The end result is that most users need to resort to third party apps that manage keys and validate transactions on their behalf.

    With MobileCoin, the developers want to create a fast, private, and easy-to-use cryptocurrency that can be deployed in “resource constrained environments” (i.e. mobile phones) by users who aren’t equipped to handle private keys over a long period of time, all without giving up control of funds to a payment processing service.

    How Does MobileCoin Work?

    MobileCoin was built on the idea that not all clients are capable of participating in a P2P network, which is why they created a federated approach instead. The MobileCoin network is made up of nodes, with each node designed to serve users.

    Nodes do the heavy lifting of all tasks in the MobileCoin network, including tasks that user clients can’t perform – like maintaining the large ledger of transactions and processing high-throughput low-latency transactions. At the same time, node operators do not have access to users’ funds, nor do they learn anything about users’ balances and transaction history.

    Nodes run in an SGX secure enclave. SGX secure enclaves are isolated from the host OS in hardware-encrypted RAM. This prevents the node operator from being able to “see” any activities on the network.

    In addition to SGX, MobileCoin transactions use CryptoNote one-time addresses and one-time ring signatures, which means MobileCoin still maintains transaction privacy through unlinkable addresses. So in the unlikely event that an attacker defeats SGX and view transactions on the network, the network won’t be compromised.

    MobileCoin nodes also use the Stellar Consensus Protocol to synchronize their ledger. This is why MobileCoin promises sub-second transaction times.

    In terms of key management, nodes can securely manage keys for users without actually being able to see those keys (due to the SGX enclave). A client can perform remote attestations to its MobileCoin node before transmitting its keys into the remote enclave along with a short recovery PIN.

    The MobileCoin node can then rate limit authenticated access to the keys, while the enclave prevents the node operator or anyone who compromises the node from circumventing the software and attempting to brute force access to the keys directly.

    That means user keys can reside safely in a node and survive across application reinstalls or lost devices. There’s no need to trust the node operator or the security of the node computer, and there’s no need to memorize or safely store extremely long recovery passphrases.

    Users interact with MobileCoin through a wallet – like a mobile app. The wallet is designed so that an ordinary messenger – like WhatsApp, Signal, or Facebook Messenger – could integrate to the wallet, allowing MobileCoin to send payments over a messenger network.

    MobileCoin Features

    Some of the core emphasized features of MobileCoin include all of the following:

    Easy Key Management:

    You can securely recover keys using a 4 to 6 digit PIN. There’s no need to remember long word lists, and there’s no need to trust a provider with your keys.

    Sub-Second Transaction Times:

    Most transactions complete in less than a second, which means payment happen instantly.


    The entire MobileCoin ledger is opaque, and individual transactions are cryptographically protected. The network uses forward secrecy.

    User-Friendly and Eco-Friendly:

    Today’s PoW blockchains are criticized for their massive energy usage. MobileCoin, alternatively, emphasizes a user-friendly and planet-friendly environment.

    Who’s Behind MobileCoin?

    MobileCoin is led by Joshua Goldbard, a mobile and telecommunications expert with a decade of experience developing, managing, and implementing networks for AT&T and other companies, Shane Glynn, a lawyer with a background in telecommunications and mobile devices, and Moxie Marlinspike, a cryptographer with a passion for secure communication (and the founder of Signal).

    MobileCoin Conclusion

    Today’s cryptocurrencies are designed to appeal to a mass audience of users. However, high transaction fees, long transaction times, and overall complexity are preventing mass adoption. MobileCoin sees an opportunity to develop a mobile-centric cryptocurrency. It’s a unique project that’s built to be implemented into messengers like Signal, WhatsApp, and Facebook Messenger, where it could provide convenient and secure payments between individuals.

    Overall, MobileCoin is a cryptocurrency designed to be used by everyone. To learn more about MobileCoin and how it works, visit online today at Right now, the project has a 4 page whitepaper and a small website, although we expect more details to be released in the near future.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    1. Be warned that there is another common coin floating around trying to use the name of MobileCoin They are MBCC (not the same thing!) It is scrypt-based instead of cryptonote-based and does not enjoy even a tad bit of the enterprise security architecture of the real MobileCoin. At times MBCC will call itself Mobile Coin, further confusing the matter. And they are now in the midst of an ICO so I suspect that many unsuspecting people will be buying it not knowing that they are being duped! BE WARNED!


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    EOS Suffers “Major Outage” on Coinbase as Network Performance Issues Arise

    This month alone Coinbase suffered issues with EOS thrice, the exchange is still investigating the problem. Meanwhile, No blockchain is cartel resistant, but EOS’s the...

    New Jersey Introduces Bill For Crypto Firms To Obtain Licenses From State Authorities

    A New Jersey lawmaker introduces a bill to regulate the cryptocurrency and digital assets industry. The bill states each virtual asset company must obtain...

    Bitcoin Revolution Trader At It Again, Targets Professional Cycling Legend Peter Sagan

    Peter Sagan, a renowned cycling legend, has been the latest victim of the Bitcoin Revolution scam which uses the identity of worldwide stars to...

    Ripple’s Development Wing, Xpring, Is Financing A Project To Link XRP To Ethereum

    As per the market caps, ETH and XRP can be said to be two of the biggest cryptos in the world and now...

    Stellar (XLM) Price Analysis (February 22)

    • The cryptocurrency is in a bullish trend in the medium-term and ranging in the short-term outlook respectively. • Patience is required at this period. XLM/USD...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.