The official release of the crypto-currency asset called Monacoin took place in the distant 2014. When this currency was launched, the decentralized Litecoin platform was used, which is focused on performing fast and secure peer-to-peer transactions. Initially, Monacoin gained popularity in the domestic market of Japan, where it became a kind of alternative to Bitcoin. Many network users used coins as digital money, since this cryptocurrency already had a number of advantages over competitors at that time.
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The main advantage of Monacoin is the high speed of operations. In addition, transactions are handled by a hash algorithm compatible with Scrypt, which is not supported by the ASIC. Later Monacoin switched to Lyra2REv2 programming language to continue working on the GPU / CPU technical process. To date, the network uses the executive element of Dark Gravity Wave, which indicates the stable position of the founders of the platform.
The Monacoin development team is making every effort to constantly update the platform and develop technology within the network. The high level of Monacoin's capitalization is due to the fact that the network functions exclusively as a payment system. After the enchanting success of the cryptocurrency at the end of 2017, there was a slight decline and balancing, so the inflow of investments into the network was only $ 200 million. On the Japanese crypto-exchange, Monacoin is very popular, as proof – more than 70% of trades are held with the participation of this currency.
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For the safety of Monacoin not only a purse is based on Windows, Android and Mac, but also a personal e-wallet. What exactly markers supports the same crypto currency can be found on the company's project portal.
Monacoin has received wide application not only in Internet trading, but also in real life. A large number of Japanese organizations already accept payment in this digital currency.
Editor: Yuliya Soroka