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About MonaCoin
Key Points:
- MonaCoin (MONA) is an open-source decentralized cryptocurrency and peer-to-peer (p2p) payment network.
- Launched in January 2014 with no pre-mine process, built on Lyra2RE (v2) algorithm, and based on a hard fork of Litecoin.
- Decentralized payment network, independent and self-governing, with new coins issued collectively with users as payment for mining.
- Miners earn 25 coins for every 90 blocks processed, with a block generation time of 1.5 minutes and mining difficulty dependent on each block.
- MonaCoin community is active and engaged, with impressive support from local investors and crypto
About MonaCoin: A Pioneering Cryptocurrency
Introducing MonaCoin (MONA): A Pioneering Cryptocurrency
MonaCoin (MONA) is an open-source, decentralized cryptocurrency and peer-to-peer (p2p) payment network, launched in January 2014 without a pre-mine process. Built upon the Lyra2RE (v2) algorithm, MonaCoin is a hard fork of Litecoin, fostering a robust and decentralized ecosystem.
The MonaCoin payment network operates on a fully decentralized model, where ownership is collectively shared among its users, rather than being controlled by a single entity. Furthermore, the peer-to-peer technology underlying MONA ensures the platform’s independence and autonomy. Notably, new coins are minted through a collaborative process, with users of the system receiving them as compensation for their mining efforts.
Miners are rewarded with 25 coins for every 90 blocks successfully processed, with a block generation time of 1.5 minutes, and mining difficulty that dynamically adjusts with each new block.
The MonaCoin community boasts the most vibrant and dedicated cryptocurrency user base in Japan, bolstered by substantial support from local investors and crypto aficionados. The project garnered widespread attention when it was showcased on the WBS TV Network Tokyo, which aired the remarkable story of an individual who purchased a plot of land in Nagano using MonaCoin.
The Visionaries Behind MonaCoin: Unveiling the Founding Team
Launched on January 1, 2014, MonaCoin was born out of a whimsical internet phenomenon – the beloved ASCII art character, Mona, which resembles a cat, and has since become an iconic meme.
MONA, the pioneering alternative cryptocurrency to emerge from Japan, was clandestinely conceived by an enigmatic figure known only by the pseudonym ‘Mr. Wantanabe’. As of October 2021, the development team remains shrouded in anonymity, with no information available regarding the founder’s identity or the number of team members involved. The names, photographs, and social media profiles of the MonaCoin team remain conspicuously absent.
Unveiling the Uniqueness of MonaCoin
MonaCoin (MONA), a cryptocurrency born in Japan, has garnered a stellar reputation and amassed a devoted following, predominantly in its native land. Fueled by the fervent enthusiasm of its fanbase, MonaCoin enthusiasts have successfully developed a plethora of MONA-based web applications and services, thereby substantially augmenting the project’s utility.
Notable Characteristics of MonaCoin:
Swift Transaction Processing: MONA’s 1.5-Minute Block Time
Notably, MonaCoin offers the flexibility to facilitate both transparent public transactions and confidential private transactions.
Widespread Adoption: A Proven Track Record Since 2013
Throughout the years, MONA has steadfastly pursued its vision of becoming a convenient and affordable cryptocurrency, tailored specifically to cater to the needs of the Japanese market.
A Vibrant Community: MonaCoin Thrives on Collective Support
Fundamentally, it is the loyal and dedicated community of users that serves as the backbone of our project, distinguishing us from initiatives that rely heavily on external development teams and third-party systems.
MonaCoin, a hard fork of Litecoin, which in turn is a hard fork of Bitcoin, boasts a significantly larger circulating and maximum supply compared to its predecessors. Furthermore, MonaCoin has the distinction of operating on its own proprietary hashing algorithm.
MonaCoin (MONA) leverages the advanced Dark Gravity Wave (v3) and Lyra2RE (v2) algorithms to guarantee unparalleled transparency, fairness, and security in its operations.
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What Is the Circulating Supply of MonaCoin (MONA)?
MonaCoin (MONA) is a pioneering meme coin that seamlessly integrates real-world utility with the benefits of decentralization, offering a convenient payment system that facilitates instantaneous transactions.
The total maximum supply of $MONA, encompassing both physical and digital forms, is capped at 105,120,000. Notably, MonaCoin eschews pre-mining, ensuring a level playing field where developers and users alike have equal opportunities to acquire MONA. The tokens can be mined using specialized software, while coins can also be purchased from prominent cryptocurrency exchanges.
MonaCoin leverages the Lyra2RE (v2) and Dark Gravity Wave (v3) algorithms to ensure equitable mining opportunities, yielding optimal success rates and incrementally increasing difficulty levels with each successive block. Every 1.5 minutes, a block reward of 25 MONA is generated, with miners earning 25 MONA for every 90 blocks successfully processed.
MonaCoin has garnered the esteemed approval of Japan’s Financial Services Agency, a testament to its credibility and compliance with the country’s stringent financial regulations.
The MonaCoin Network’s Security Mechanisms: A Robust Defense
Monacoin employs the Lyra2RE (v2) Proof-of-Work algorithm for block validation, mirroring the same system that underpins Bitcoin (BTC). Furthermore, Monacoin (MONA) can be securely stored in the following Hardware wallets: Ledger Nano X and Nano S.
Since 2014, the company has been a stalwart presence in the cryptosphere, garnering a substantial following in Japan. Despite the team’s anonymity, users have unwavering confidence in the platform’s security. Notably, MonaCoin’s launch was characterized by the absence of pre-mining, ensuring that there are no hidden coins that could be exploited by the team in the future, thereby preventing potential market manipulation. Over the years, MonaCoin has consistently demonstrated its reliability, boasting an unblemished record devoid of any hacking incidents.
Where to Acquire MonaCoin (MONA): A Comprehensive Guide
Acquiring $MONA: Exploring the Available Options
You can acquire Monacoin on cryptocurrency exchanges that list the coin; notably, MonaCoin operates on the Lyra2REv2 algorithm, making it feasible to mine using graphics processing units (GPUs).
MonaCoin (MONA) is readily available for purchase and trade on a diverse range of crypto exchange platforms, both domestically in Japan and internationally, including prominent names such as Zaif, bitFlyer, Bittrex, ProBit Global, Bitbank, CoinEx, Dove Wallet, CROSS exchange, Crex24, VALR, and Finexbox.
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