Monacoin is a 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".
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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- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.