Monacoin Introduction: Developments and Applications
MonaCoin (MONA), is the first Japanese cryptocurrency, and it has one of the most active communities online. Japan culture is heavily adopting MONA, with thousands of Zaif ATM's accepting payments in this cryptocurrency.
It’s one of the few currency in the world which is currently used for purchasing online/offline products and even the restaurants have started accepting monacoin in Japan. Yes and that’s true .The number of stores, websites, and service providers that accept MonaCoin increases every day, and there are many Japanese internet sites, message boards, and web wallets that streamline the shopping experience for MONA owners. Major Japanese electronics store Ark Akihabara accepts Monacoin, alongside Bitcoin.
Monacoin has implemented Lightning Network, which will help the currency for faster transaction , instant payments , cross blockchain transaction and monacoin dev team is on it . With Segwit activated, Monacoin now is like Ethereum, Dash, and XMR combined.
Monacoin is designed to resist centralization: (1) Like Vertcoin, Lyra2REv2 algorithm inside Monacoin is designed to resist the development of custom mining hardware and multipool mining, ensuring that transactions are validated by a widely distributed network. Dezentralization is the point of cryptocurrency after all. For more detail, read the Lyra2REv2 white paper. (3) Yet, Monacoin achieves this without the need of Proof-of-Stake and all its Problems. (2) (Limited supply + Hoarded mining = total fucking scam) .The Asic resistance of Lyra2REv2, means miners cant just fork all over mona if they dont like Segwit.
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TECHNICAL DETAILS
Genesis Block: April 2014
Algorithm: Lyra2REv2 (from 450,000 Block)
Difficulty Algorithm : Dark Gravity Wave (from 450,000 Block)
Segwit: Activated (from 977760 Block)
Premine: none
Block reward: 25 MONA
Block time: 1.5 minutes
Retarget: Every block
Totalcoins: 168 million
The technical details can be found on their official website (Official website: http://monacoin.org ), and the video on the homepage shares some of the top online locations where MONA adoption is going through the roof. Two sites stand out, AskMona, a message board with tipping features, and Monappy, an online wallet, store, and art gallery.
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Below is several main releases of Monacoin (for more information, to https://github.com/monacoinproject/monacoin/releases , and https://github.com/monacoinproject/monacoin/tags ):
monacoin-0.14.2 on Aug. 1st, 2017;
monacoin-0.13.2.2 on Feb. 9th, 2017;
v0.10.4 on May. 23rd, 2016;
v0.10.2.2 on Sep. 20th, 2015;
v0.8.6.2 on Aug. 24th, 2015;
As we can see, Monacoin development community will release an updated version every few months. It is crazy.
The statistic information of Monacoin source code on github ( https://github.com/monacoinproject/monacoin ):
13,131 commits
10 branches
10 releases
422 contributors ( https://github.com/monacoinproject/monacoin/graphs/contributors )
As we can see from these information, Monacoin has a strong and efficient community for developing.
Some people consider Monacoin in Japan as Dodge in China. It is absolutely wrong. Can you list advantages of Doge coin against Monacoin? The source codes of Dogecoin has not been changed for almost three years: see https://github.com/dogecoin/dogecoin/releases . The technologies behind Dodgecoin is very outdated, and Dodgecoin is not hot as in several years ago. While Monacoin is becoming stronger.
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Exchanges listed Monacoin:
ZAIF (Mona/JPY and Mona/BTC)
Bitbank (Mona/JPY and Mona/BTC)
Fisco (Mona/JPY and Mona/BTC)
BitFlyer (Mona/JPY)
Bittrex (Mona/BTC)
Upbit (Mona/KRW and Mona/BTC)
Exx (Mona/HSR and Mona/QTUM)
Livecoin (Mona/BTC)
Bleutrade (Mona/BTC and Mona/DOGE)
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PS.
Comparision between Monacoin and Vertcoin:
Block reward: Monacoin (25) vs Vertcoin (50)
Block time: Monacoin (~1 min 38 sec avg) vs Vertcoin (~2 min 20 sec avg) => faster transaction confirm time for Monacoin
Trading distribution: Monacoin (Japan and Korea) vs Vertcoin (Bittrex)
Difficulty adjustment: Monacoin (DGW v3) vs Vertcoin (KGW; at least according to the official website)
Applications as money: Monacoin (Many, in Jpan) vs Vertcoin (None, see discussions https://www.reddit.com/r/vertcoin/comments/794v4d/where_to_spend_my_vertcoins/ )
Decentralization features: Both of Monacoin and Vertcoin are ASIC resistant coins
Can you give an example that vertcoin as money? I have never seen this kind of information about vertcoin on its website or twitter or reddit. Look https://www.reddit.com/r/vertcoin/comments/794v4d/where_to_spend_my_vertcoins/ , none applications as currency for Vertcoin right now.