Technical features of Monacoin
Number of coins – 105 million;
The cost of the coin is 3.13 dollars;
Trade name – MONA;
Encryption algorithm – Script;
The method of protection is Proof of Work.
About Monacoin project
Cryptocurrency Monacoin is a decentralized cryptocurrency open source, which was created in 2014 as a consequence of fork cryptocurrency Litecoin. Its name Monacoin received thanks to the popularity of internet “cat” meme, which is depicted on the logo cryptocurrency. Despite its “cartoon”, Monacoin is a self-sufficient token, which can be paid in various stores. Its popularity Monacoin owes to patriotism of its citizens who even in difficult times are ready to support domestic projects that already talk about attractive projects during the economic recovery of the country. Currently, 90% of investors of Monacoin are citizens of Japan.
If you look at the chart cryptocurrency Monacoin, it can be seen very frequent jumps of this cryptocurrency. These jumps are very much dependent on the attention of the media, so for example, once the growth of cryptocurrency amounted to more than 200%, after in one of the authoritative broadcasts told the news about how the Japanese bought the land for Monacoin, and then the rest of the Japanese began to buy this digital asset.
You can look at the course and analyze the Monacoin schedule on such exchanges as Bittrex, Bitbank, Livecoin. The MONA coins are traded in pairs with Bitcoin, and the bulk of the trade takes place at the exchange Bittrex.
Advantages and disadvantages of Monacoin
Cryptocurrency Monacoin, like all others cryptocurrencies, has its advantages and disadvantages. Thanks to the peer architecture that underpins the work Monacoin hack the network is almost impossible. Proof of Work protects cryptocurrency from multiple hacking attacks. Due to the fact that the network cryptocurrency Monacoin is not very popular among the world crypto community, compared to other cryptocurrencies, the confirmation of the transaction is very fast.
However, cryptocurrency Monacoin has its drawbacks, among which is a very costly mining process. In order to solve the digital code Monacoin, you will need the capabilities of the equipment, which is not cheap. In addition, the payment of electricity bills will also not be low. The disadvantages of Monacoin are also attributed to its increased volatility, which is often lures traders. Sharp jumps in the cost of cryptocurrency Monacoin can be both a good option for enrichment and for loss of money.
Prospects cryptocurrency Monacoin
Many traders and analysts do not consider cryptocurrency Monacoin as a serious tool for investments, they see in Monacoin the possibility of short-term earnings on “hype”. To be honest, we also do not see the huge prospects of this project, but if the Japanese will still be patriotically tuned, then cryptocurrency Monacoin will be able to stay on the market. Although the representatives of Japan have more interesting and promising projects.