MonaCoin (MONA) is the kitty centric Japanese cryptocurrency that has captured the nation’s heart. The goal of MonaCoin is to enable instantaneous peer-to-peer payments to anywhere in the world with no central authority. It’s Scrypt based, utilises DigiShield difficulty algorithm and has a relatively low time between blocks, roughly 1.5 minutes.
It only has around a third of the market cap of DogeCoin, it’s Shiba Inu rival, but has achieved Top 10 rank on CoinMarketCap over the past few months, even though roughly 90% of its user base is from Japan. It’s cute mascot makes it a great companion to Otaku culture.
There is an ever increasing number of online store that accept MonaCoin as payment, with it gaining traction amongst the Crypto-community. It’s popularity is in part due to it being Japanese, with many Japanese citizens choosing a home-grown crypto over foreign alternatives. It also has an anonymous creator much like Bitcoin, a Mr Watanabe. Little is known about this mysterious creator, other than the fact he is probably Japanese.
Since the correction of early this year, MonaCoin has not been as successful as it was back in December 2017, having almost reached the £15 price point before settling back down to around £4, but many still have faith in this kawaii coin, so maybe you should too.
What do you think about this purrfectly cute cryptocurrency? Do you hold any? Let me know in the comments down below, I always like to hear your point of view. As always, make sure to follow me for the latest Cryptocurrency, Internet and Pop Culture updates. Peace!
Sources:
MonaCoin Project Github (https://github.com/monacoinproject/monacoin)
Why Japan Fell In Love With MonaCoin (https://www.coindesk.com/why-japan-fell-love-monacoin-cat-meme-cryptocurrency/)