Medibloc

Understanding Medibloc (MED): The Healthcare Blockchain Revolution

Medibloc (MED) is a blockchain-based healthcare information platform designed to restructure the medical data ecosystem. Founded in 2017 by healthcare and tech professionals, Medibloc aims to solve fragmentation issues in medical records while giving patients control over their health data.

What is Medibloc (MED)?

Medibloc (MED) is a cryptocurrency token that powers the Medibloc healthcare ecosystem. As a decentralized platform built on blockchain technology, Medibloc creates a patient-centered healthcare data exchange system where individuals maintain ownership and control of their medical information. The MED token facilitates transactions within this ecosystem, enabling secure and transparent sharing of healthcare data between patients, healthcare providers, and researchers.

With Medibloc (MED), patients can store comprehensive medical records from various healthcare institutions in one secure location, granting selective access to providers while maintaining privacy. This streamlined approach to medical data management potentially improves healthcare outcomes by ensuring doctors have complete patient histories.

How Does Medibloc (MED) Work?

Medibloc (MED) operates on a dual-blockchain architecture that combines the security of public blockchain with the performance of a permissioned blockchain:

• The Panacea Blockchain (public) - Built on Cosmos SDK, handles token transactions and the ecosystem's economic functions
• The Hyperledger Fabric (permissioned) - Manages sensitive medical data with high throughput capabilities

This infrastructure allows Medibloc to process medical data transactions quickly while maintaining compliance with healthcare regulations like HIPAA. The platform employs smart contracts to automate data sharing permissions, ensuring patients maintain control over who accesses their information.

Medibloc (MED) Staking and Mining

Medibloc (MED) utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism, meaning traditional mining is not available. Instead, MED token holders can participate in the network through staking:

Staking Medibloc (MED): Token holders can delegate their MED to validators who maintain the network's security and process transactions. In return for staking, participants receive rewards generated from transaction fees and block rewards. The staking APY (Annual Percentage Yield) for Medibloc typically ranges from 5-15%, depending on network participation and validator commission rates.

To begin staking Medibloc (MED), users need to:

1. Hold MED tokens in a compatible wallet
2. Select a validator to delegate their tokens
3. Specify the amount to stake

There is typically a 21-day unbonding period when unstaking MED tokens, during which rewards are not earned, and tokens cannot be transferred.

What is Medibloc (MED) Used For?

The MED token serves multiple functions within the Medibloc ecosystem:

• Transaction Fees: Payments for services on the platform
• Data Access Control: Compensation to patients for sharing medical data
• Governance: Voting rights on protocol upgrades and system parameters
• Ecosystem Incentives: Rewards for healthcare providers and researchers contributing to the network
• Staking: Network security and earning passive income

Healthcare providers can use MED tokens to access patient data (with permission), while research institutions might pay tokens to access anonymized health information for studies. Patients earn MED by sharing their data or participating in clinical trials.

Medibloc (MED) Token Distribution

When Medibloc (MED) launched in 2017, the initial token distribution followed this structure:

• 40% - Token sale participants
• 20% - Foundation reserve (ecosystem development)
• 20% - Team and advisors (with vesting periods)
• 10% - Strategic partnerships
• 10% - Community and marketing initiatives

The total supply of Medibloc (MED) was capped at 10 billion tokens, with a circulating supply that increases gradually through staking rewards and ecosystem incentives.

Additional Information About Medibloc (MED)

Medibloc has established partnerships with several healthcare institutions and insurance companies, particularly in South Korea where the project originated. The team continues to develop integrations with electronic health record (EHR) systems to facilitate seamless data transfer.

The project has also launched a mobile application called "Dr. Palette" that allows users to aggregate and manage their health records while earning MED tokens for participation.

One of Medibloc's strengths is its focus on regulatory compliance within the healthcare sector, making it a practical solution for real-world adoption.

Trading Medibloc (MED) with Cryptohopper

Investors interested in Medibloc (MED) can easily trade this promising healthcare cryptocurrency on various exchanges using Cryptohopper's automated trading bot. Cryptohopper allows traders to set specific parameters for buying and selling MED tokens, implementing strategies without having to monitor the market constantly. Whether you're interested in Medibloc for its healthcare innovation potential or purely as an investment, Cryptohopper provides tools to optimize your trading experience across any exchange where MED is listed.