TechTalkz
No Result
View All Result
Tuesday, April 20, 2021
  • Login
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us
Subscribe
TechTalkz
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us
No Result
View All Result
TechTalkz
No Result
View All Result
Home Cryptocurrency

What is Monaco (MONA)? — Getting Started Guide for bitFlyer Academy

by Sam
December 17, 2020
in Cryptocurrency
0
What is Monaco (MONA)? — Getting Started Guide for bitFlyer Academy
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Monaco (MONA) was launched in December 2013 as “Japan’s first cryptocurrency” and the product of the hard fork of Litecoin. Considering its pseudonymous founder (Mr.). Watanabe founded MONA as the native asset of its hash search game. This cryptocurrency started off quite “fun” and is usually regarded as a “joke coin” similar to DogeCoin.

However, with the passage of time, Monaco coins have become more and more popular among Japanese users, to the extent that they have been used in daily payments and transactions.

The cultural significance of Monaco

An obvious sign of Monaco is that it is Deep-rooted inside Japanese culture In several ways. First, the name and logo of the project comes from “Mona” ASCII basedCat (a standard for encrypting electronic communications), a popular character on online forums in Japan, named 2 likes.

Second, its creator takes the name “Watanabe”, It’s not just Satoshi Nakamoto (The founder of Bitcoin), but also associated with the medieval literature of the ferry guild. In addition, it is one of the most common surnames in Japan.

Third, in addition to its technological advantages, Monaco’s strongest driving force is its fanatical followers among Japanese cryptocurrency users. The formal team plays a minimal role in the development and maintenance of the project. Community-driven approach These aspects.Especially in terms of marketing, Monaco is actually Community-managed projects.

Therefore, the dedicated community behind the project is one of its basic characteristics.However, despite its pride and loyalty, MONA’s rooting has always been an obstacle to its growth International adoption, Especially due to language barriers.


Technical specifications and advantages

Monaco’s total supply 105,120,000 tokens, A new block is generated every 1.5 minutes.At the time of writing, the reward for miners (professional users who verify transactions and create blocks) is 25 MONA.Use called Dark gravity wave (V3), these rewards are halved every 3 years, making cryptocurrency a Scarce with More valuable.

Unlike Litecoin, Monaco uses Lyra2REv2 Its algorithm Proof of work (PoW) consensus mechanism instead of encryption Used by Litecoin.In doing so, Monaco intends to resist ASIC-based mining hardware, Thus contributing to the continuous development of the Japanese encryption community.This one Provide higher security To the Monacoin network, but in general, the ASIC resistance driver has caused a more fundamental concern-the monopoly of cryptocurrency mining.

In short, ASICs are essentially Exclude any possibility of competition For individual miners and amateurs, while promoting The risk of centralization of power. In turn, this runs counter to Satoshi Nakamoto’s ideal of “one machine, one ticket”.

Through the soft fork in the 937440 block, Monaco has achieved segregated witness or Segregated witness, Becoming one of the first blockchains in the world to use this technology. Currently, Bitcoin and Litecoin also use SegWit and so on.

Despite complex technical enhancements, SegWit still allows each block to accommodate more transactions, so increase Network Overall transaction speed.In addition, Monaco is compatible with the Lightning Network and ensures Faster transaction settlement.

In 2018, Monaco also joined the dream-for-crypto group, which has successfully completed Atomic swap-A mechanism for P2P conversion between encrypted assets mainly through the use of smart contracts.This broadens the horizon of Japan’s native “national” cryptocurrency, enabling it to achieve a comprehensive Decentralized financial functions.

Monaco (MONA) on the exchange

become a payment method This is the main purpose of Monaco, and the community has given great dedication.Over time, some MONA-based Application field with service It is being deployed to enhance the overall market value of the token.

Although it is popular among Japanese, MONA can still be used Only on some global exchanges, Such as bitFlyer. In Europe, which Japan is proud of, bitFlyer is the only cryptocurrency exchange in the EU to recruit Monaco. To buy, sell and trade Monaco (MONA), please register bitFlyer now.





Disclaimer:

The information contained in this article is for reference only. bitFlyer EUROPE SA has no relationship with any of the companies mentioned in this article. BitFlyer does not assume any responsibility for the accuracy, relevance, timeliness or completeness of any information provided by these external companies, nor does it provide any guarantee.

You are responsible for conducting your own due diligence when accepting an investment. BitFlyer is not responsible for any actions taken as a result of this article, and bitFlyer will not provide any investment advice to its users.


  • Trending
  • Comments
  • Latest
GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
The Glorious World of EVs: markets to be watched

The Glorious World of EVs: markets to be watched

February 6, 2021

High-Speed Traders In Search of New Markets Jump Into Bitcoin

January 3, 2021
Apple Talks Recently Pauseed with Hyundai, Kia

Apple Talks Recently Pauseed with Hyundai, Kia

February 6, 2021
GBPJPY: A trade setup

GBPJPY: A trade setup

0

Oil Heads for Best Weekly Gain in Month on Keystone Disruption

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

Fund Tracking Bitcoin Launches in Europe as Crypto Gains Backers

0
GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
AUDJPY strong rallies leave question marks

AUDJPY strong rallies leave question marks

February 11, 2021
Natural gas prices await important data around $ 3 levels

Natural gas prices await important data around $ 3 levels

February 11, 2021
What will happen to MasterCard after the decision to support digital currencies?

What will happen to MasterCard after the decision to support digital currencies?

February 11, 2021

Recent News

GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
AUDJPY strong rallies leave question marks

AUDJPY strong rallies leave question marks

February 11, 2021

Categories

  • Cryptocurrency
  • Economy
  • Forex Trading
  • Gadget
  • Markets
  • Opinion
  • Politics
  • Real Estate
  • Startup
  • Stock Market
  • Technical Analysis
  • Viewpoints
  • World

Site Navigation

  • Home
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 TechTalkz - Forex & crypto traindg news & magazine TeckTalkz.

No Result
View All Result
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 TechTalkz - Forex & crypto traindg news & magazine TeckTalkz.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.