What is MonaCoin (MONA)?
MonaCoin (MONA) is an open-source cryptocurrency platform and is a subsidiary of Litecoin. This is a fairly new platform, launched in January 2014 in Japan. And it was released by the MonaCoin project. This platform has quickly gained a lot of interest in the cryptocurrency market. Millions of business people, investors and end-users now use the platform to transfer money.
MonaCoin not only has the function of transferring money but also can buy, sell or exchange with each other. MonaCoin can also be used to buy goods and services from the internet, and like other coins, Mona coins can be mined. However, exploiting Mona is quite difficult for you if you are new to this field.
MONA works on Linux, Windows and MacOS devices. According to the analysis of crypto experts, one of the reasons why MonaCoin has quickly gained practical popularity is because its transaction time is extremely fast.
If you’re going to trade through MonaCoin, be sure to do thorough research on the platform and learn how to trade coins. To invest in the MonaCoin platform, you can also help the MonaCoin brokers, who will help you invest wisely.
Features of MonaCoin
MonaCoin is a fork of Litecoin, so it is basically similar to Litecoin, and retains the original idea of Bitcoin to be the global payment currency. However, MonaCoin still has more improvements such as fast transactions, a larger total supply of coins, and uses a different hashing algorithm that is different from Litecoin.
An important feature of MonaCoin is “ASIC-resistant”. Similar to Vertcoin; it initially ran the Script algorithm to strengthen the platform and counteract the dominance in ASIC mining techniques. Then, MonaCoin switched to Lyra2REv2 algorithm to maintain mining techniques with GPU and CPU.
In addition, Monacoin transactions are also accelerated by using the Lightning Network, forming the second transaction layer. Every time a block is created, its difficulty level will be changed to reduce the load on the nodes. Monacoin block creation time is only 1.5 minutes faster than Bitcoin is 10 minutes.
MonaCoin is a hard fork of LiteCoin, so they are looking to improve the original model. Similar to the way that Litecoin did with Bitcoin, MonaCoin was also built to ensure faster transactions than previous coins.
Although MonaCoin is a branch of LiteCoin, MonaCoin’s block creation time is much faster than LiteCoin. LiteCoin’s block creation time is 2.5, while MonaCoin is 1.5, faster than other cryptocurrencies on the market today.
The members of the development team of the Mona Coin project are completely anonymous; only one person introduced is the MONA CEO named Watanabe, but this is only an alias on the Crypto communities he uses, similar to Satoshi Nakamoto – The father of Bitcoin.
MonaCoin (MONA) – a coin that was dubbed the “the first Japanese cryptocurrency”, is also a long-standing coin and Japanese people considered Ethereum’s rival to be. MonaCoin is a cryptocurrency created from a simple idea, focusing on the perfect coin with the basic functions of a peer-to-peer cryptocurrency.