1. Introduction
Monacoin is inspired by Litecoin (LTC) and is a network cryptocurrency based on P2P technology. It is also an open source software project under the MIT/X11 license. It helps users make instant payments to anyone in the world. It was released on January 1, 2014. It is an old cryptocurrency that grew up in Japan, and it is also the first cryptocurrency in Japan, and has a huge support community in Japan. Monacoin has been listed on several major cryptocurrency exchanges in Japan, the United States, and South Korea.
2. Project introduction
Monacoin is a relatively old currency released on New Year's Day in 2014. Mengnai currency adopts Scrypt algorithm, adopts Digishield difficulty adjustment algorithm, and prevents machine gun pools. The block time is 1.5 minutes, each block contains 50 coins, and the output is halved after 1,051,000 blocks or 3 years later, and the total currency is 105,120,000. It was officially released on January 1, 2014.
Monacoin's block production time is 1.5 minutes, and the output is halved every 3 years. Currently, each block contains 25 coins. The Monacoin network can process a block every 1.5 minutes, thus providing faster transaction confirmations. Digishield difficulty adjustment algorithm is adopted to prevent machine gun pools. Mengnai has activated Segregated Witness (SegWit) and implemented the Lightning Network function to better deal with instant payments and cross-chain transactions. Using the Lyra2REv2 algorithm for POW mining can effectively prevent ASIC-specific mining machines, so that more people can participate in mining, better decentralization, and can effectively avoid 51% attacks.
Thanks to the Japanese government's open attitude towards cryptocurrencies and a broad support community, Monet is one of the few cryptocurrencies in the world that can support both online and offline shopping, and supports Monet payment. The number of restaurants, retail stores, websites, etc. is increasing. In particular, Ark Akihabara, a major Japanese electronics store, has also begun to accept Moena coins in addition to supporting bitcoin payments.
3. Comments
Monacoin, the Chinese name is Monacoin, the market symbol is MONA, Monacoin was born in December 2013 (officially released on January 1, 2014) ), is Japan's first digital currency, and the Mona community is the most active digital currency community in Japan.
Inspired by Litecoin, Mengnai Coin is a network cryptocurrency based on P2P technology and an open source software project under the MIT/X11 license, which can help users make instant payments to anyone in the world.
From the perspective of cryptocurrency, MONA, as a fork of Litecoin, has slightly changed the code of BTC but has no technical breakthrough, its technical ability is not strong, and more It is based on the relatively loose digital currency environment in Japan and the Japanese animation otaku culture represented behind MONA, so its cultural value is greater than its technical value.
