What is Monacoin(MONA)?

Introduction

Monacoin uses a blockchain much like Litecoin that was created in 2013 by an anonymous person in Japan. This coin is designed in such a way that it is approved by the country's financial services agency. Even payment methods for online purchases are provided with these MONA coins so that tips can be used for those made in physical stores. These coins are available on various exchange sites like unique coins.

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Monacoin

Monacoin is a Japanese digital coin. It is Japan's first cryptocurrency. It was originally created as a P2P transaction network. So that this coin bypasses the exchanges. It uses a specific blockchain like LTC (Litecoin). This coin may use the same proof-of-work operating protocol as Bitcoin. Even the MonaCoin blockchain is set up in a way that can process transactions faster than Bitcoin in general. To put it simply, the transaction process using this coin is very fast.

This Monacoin is mainly used for tipping in online games. There are even some stores in Japan that accept payments with MonaCoin. This MonaCoin has an active community for development and users. MONA can be easily purchased using the Japanese local currency Yen or Bitcoin at Japanese cryptocurrency exchanges or smart ATMs. The currency is mainly used for online games. MONA also trades with several other Japan-based digital currency exchanges. The most interesting thing is that this MonaCoin has been approved by the Financial Services Agency of Japan. Which in turn indicates that Japan considers cryptocurrency to be a legal payment method

But this Monacoin has some limitations or disadvantages like it adjusts its mining difficulty in every block. This coin has adjustable mining difficulty so like Bitcoin, it becomes harder to mine over time. It cannot be mined as easily as Bitcoin. It completes the transaction process based on blockchain. Its transaction process is faster than Bitcoin. It can be bought on various exchange sites. These coins can be bought on exchange sites like Bittrex or Zaif.