Launched in December 2017, MED was originally deployed in the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) ecosystem as a decentralized application ([dApp](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)) running on the Ethereum Virtual Machine ([EVM](https://coinmarketcap.com/alexandria/glossary/ethereum-virtual-machine-evm)). In 2018, MED was re-released on the [Qtum](https://coinmarketcap.com/currencies/qtum/) blockchain, then the project moved to [Cosmos](https://coinmarketcap.com/currencies/cosmos/) through the Cosmos Software Development Kit (SDK). In 2019, the decision to formulate and launch its own [mainnet](https://coinmarketcap.com/alexandria/glossary/mainnet) was announced. The platform operates on the Delegated Proof-of-Stake ([DPoS](https://coinmarketcap.com/alexandria/glossary/delegated-proof-of-stake-dpos)) consensus algorithm, an evolution of the fundamental concepts of Proof-Of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)). DPoS is one of the most energy efficient models, providing network security through the approval voting of delegates.

MED is a native utility token of the MediBloc platform. It’s required for storage payments, insurance payments, and transactions. MED is also used to reward users who have contributed to the growth of the MediBloc ecosystem. In terms of [tokenomics](https://coinmarketcap.com/alexandria/glossary/tokenomics), the distribution of tokens is as follows: 50% to participants of the [ICO](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico); 20% to the team; 12% to development; 10% to investors and advisors; 8% to research.

MediBloc's main goals include building a patient-centric health data platform, empowering data and encouraging users to maintain a healthy lifestyle. The project aims to revolutionize the healthcare sector by becoming a unified real-time patient database. The decentralized platform brings together patients, healthcare providers and medical researchers. The patient is the ultimate owner of his or her own health data, records, treatment history and more. Data loss is prevented by backups, and only reputable medical institutions and trusted healthcare affiliates are allowed to make changes. Additionally, the blockchain system provides an increased level of network security, minimizing risks such as fraud and data hacking. According to the protocol, this will minimize redundant data, ensure streamlined treatment, efficient medical care and greater accuracy of diagnoses. The platform provides an objective incentive system, where all contributors (data owners) are rewarded in MED tokens.

MediBloc, was launched in 2017 by a team of qualified doctors in collaboration with experienced entrepreneurs and talented developers. Dr. Allen Wookyun Kho and Dr. Eunsol Lee are the co-founders of the South Korean company. They are healthcare professionals with experience and numerous achievements in medicine, as well as software engineering. Allen Wookyun Kho holds a Bachelor of Science from Korea Advanced Institute of Science and Technology, a Master in Computer Science from Columbia University (New York, US), and a Master of Dentistry from Kyung Hee University (Department of Dentistry). Kho is a former lead software engineer at Samsung Electronics where he was deeply involved in the Galaxy S software development process. Eunsol Lee holds a Bachelor of Medicine from College of Medicine, Hanyang University, and a Master of Medicine from College of Medicine, University of Ulsan. Lee specializes in radiology and biomedical informatics and has an impressive track record, including being a developer at NEXON, a radiology specialist at Asan Medical Center and a public health doctor. Lee was a former member of the Presidential Committee on the Fourth Industrial Revolution (PCFIR), and a representative of the Special Committee (Digital Healthcare) under the PCFIR.

MediBloc (MED) is a South Korean-based [decentralized](https://coinmarketcap.com/alexandria/glossary/decentralized) [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) protocol for the healthcare industry through which medical institutions can securely transfer, collect, store and manage data. With MediBloc, physicians can access patient information, medical history, prescribed medication, insurance issues and more. MediBloc makes medical data more accessible by allowing everyone involved to track and record medical conditions, appointments, examinations, treatments and more. The ecosystem is built on three key elements: MediBloc Core (a layer for storing data and providing additional storage), MediBloc Application (a layer for accessing and managing data through various applications), and MediBloc Service (a layer applying [smart contract](https://coinmarketcap.com/alexandria/glossary/smart-contract) technology that connects the other layers and allowing input and output of data). The platform offers three categories of accounts: for general users (patients), healthcare providers (doctors and medical institutions) and data scientists, the latter two require proof of their accreditation. The project is aimed at improving the quality of medical services and infrastructure by optimizing information storage processes and giving users sovereignty over their own data. MediBloc is compliant with the HIPAA Security Rule, the Health Insurance Portability and Accountability Act.