Monacoin is a peer-to-peer digital cryptocurrency which originated in Japan, and was the first Japanese cryptocurrency. It was named after Mona, an ASCII Art character, and is represented by the cryptocurrency symbol MONA. Monacoin is a distributed payment system for users running Monacoin client applications on their computer. Monacoin was launched on a Japanese online forum called 2channel in December 2013 by an anonymous account on the forum named "Mr Watanabe". MonaCoin offers MonaCoin Core cryptocurrency wallets for storing MonaCoin, and users can also store their MonaCoin using the Coinomi and Electrum Mona cryptocurrency wallets.
After the mining of every block on the MonoCoin network the mining difficulty is adjusted through the Dark Gravity Wave v3 algorithm.
List of technical details associated with Monacoin:
- Algorithm: Lyra2RE(v2)
- Block time: 1.5 minutes
- Total coins: 105,120,000
- Subsidy halving time is approximately every 3 years or 1051k blocks
- Difficulty re-target: Dark Gravity Wave v3 (every block)
- Not premined
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