## What Is MonaCoin (MONA)?

MonaCoin (MONA) is an open-source decentralized cryptocurrency and a [peer-to-peer](https://coinmarketcap.com/alexandria/article/what-is-peer-to-peer-p2p) (p2p) payment network. Launched in January 2014 with no pre-mine process, MonaCoin is built on an algorithm called Lyra2RE (v2), and is based on a hard fork of Litecoin. 

The MonaCoin payment network is entirely decentralized. Like most decentralized projects, it doesn’t belong to one single person, but belongs to all users. Moreover, the peer-to-peer technology behind MONA makes the platform independent and self-governing. New coins are issued collectively with the users of the system as payment for mining. 

Miners earn 25 coins for every 90 blocks processed; block generation time is 1.5 minutes and mining difficulty depends on each block.

The MonaCoin community is the most active and engaged cryptocurrency user association in Japan with impressive support from local investors and crypto enthusiasts. The project gained public attention when it was featured on the WBS TV Network Tokyo, which presented the story of a man who bought a piece of land in Nagano with MonaCoin.

Who Are the Founders of MonaCoin?

MonaCoin was launched on January 1, 2014, based on a cat-like internet meme -- specifically, the popular ASCII art character, Mona.

MONA is the first alternative cryptocurrency developed in Japan. The project was created covertly by a user named 'Mr. Wantanabe'. As of October 2021, the development team remains completely anonymous. There is no information about the founder, no details about the number of participants as well. The names, photos or social media pages of the MonaCoin team are not available.

What Makes MonaCoin Unique?

MonaCoin (MONA) is a cryptocurrency developed in Japan that has earned a reputation and has gathered a community of fans mainly in its homeland. Due to the formidable fanbase, MonaCoin users managed to create several MONA-based web applications and services, which significantly increased the utility of the project.

**Distinctive features of MonaCoin include:**

**Fast transaction processing.** The blocking time for MONA is 1.5 minutes. Plus-- MonaCoin supports both public and private transactions.

**Widespread deployment.** The cryptocurrency has existed since 2013. Therefore, over the years, MONA has pursued the goal of becoming a convenient and inexpensive cryptocurrency for the Japanese audience.

**Dedicated community.** MonaCoin is supported by its community, relying primarily on its supportive and loyal users, in contrast to projects that rely on the support of an outside development team and third-party system.

MonaCoin is a hard fork of [Litecoin](https://coinmarketcap.com/currencies/litecoin/), and Litecoin is a hard fork of [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/), however, MonaCoin has a much larger circulating and maximum supply than Bitcoin and Litecoin. Moreover, MonaCoin operates on its own hashing algorithm.

MonaCoin (MONA) uses Dark Gravity Wave (v3) and Lyra2RE (v2) algorithms to ensure transparency, fairness, and safety.

Related Pages:

Read about [Dogecoin (DOGE)](https://coinmarketcap.com/currencies/dogecoin/) and [SHIBA INU (SHIB)](https://coinmarketcap.com/currencies/shiba-inu/).

Read about [Hoge Finance (HOGE)](https://coinmarketcap.com/currencies/hoge-finance/) and [TacoCat Token (TCT)](https://coinmarketcap.com/currencies/tacocat-token/).

Learn more about [SafeMoon (SAFEMOON)](https://coinmarketcap.com/alexandria/article/what-is-safemoon-safemoon).

What are Peer-to-Peer (P2P) networks? Find out with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-peer-to-peer-p2p).

How Many MonaCoin (MONA) Coins Are There in Circulation?

MonaCoin (MONA) is a meme coin with real-world use. The project combines decentralization and a convenient payment system with instant transactions. 

The maximum supply that will ever be released to the market is 105,120,000 $MONA (physical and digital). MonaCoin doesn’t have a pre-mining process, so developers and users are on equal terms to receive MONA. Tokens can be mined via special mining software; coins can be purchased from major cryptocurrency exchanges.

MonaCoin uses Lyra2RE (v2) and Dark Gravity Wave (v3) algorithms to provide fair mining opportunities, success rates and increasing difficulty levels with every new block. Every 1.5 minutes, 25 MONA is mined and miners earn 25 MONA for every 90 blocks processed.

MonaCoin has been approved by Japan's Financial Services Agency.

How Is the MonaCoin Network Secured?

Monacoin uses the Lyra2RE (v2) [Proof-of-Work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) algorithm for block approval, and PoW is the same system on which [Bitcoin (BTC)](https://coinmarketcap.com/currencies/bitcoin/) is based. On top of that, Monacoin (MONA) can be safely stored in the following Hardware wallets: Ledger Nano X and Nano S.

The company has been in the cryptosphere since 2014 and has already secured the support of a huge fan base centered in Japan. The users are aware that the team is anonymous, but are confident in its security. MonaCoin was launched without pre-mining, so there are no hidden coins that the team can use in the future and dump on the market. Furthermore, over the years, MonaCoin has established itself as a reliable project that has never suffered from a hacking incident.

Where Can You Buy MonaCoin (MONA)?

Ways to get $MONA:

You can buy Monacoin on the crypto exchange where the coin is listed; MonaCoin works on the Lyra2REv2 algorithm, therefore, it can be mined using video cards (GPU).

MonaCoin (MONA) can be purchased and traded on crypto exchange platforms in Japan and beyond, among them: [Zaif](https://coinmarketcap.com/exchanges/zaif/), [bitFlyer](https://coinmarketcap.com/exchanges/bitflyer/), [Bittrex](https://coinmarketcap.com/exchanges/bittrex/), [ProBit Global](https://coinmarketcap.com/exchanges/probit-exchange/), [Bitbank](https://coinmarketcap.com/exchanges/bitbank/), [CoinEx](https://coinmarketcap.com/exchanges/coinex/), [Dove Wallet](https://coinmarketcap.com/exchanges/dove-wallet/), [CROSS exchange](https://coinmarketcap.com/exchanges/cross-exchange/), [Crex24](https://coinmarketcap.com/exchanges/crex24/), [VALR](https://coinmarketcap.com/exchanges/valr/), and [Finexbox](https://coinmarketcap.com/exchanges/finexbox/).

Discover the latest news and crypto insights with the CoinMarketCap [blog](https://coinmarketcap.com/alexandria/categories/blog).


MonaCoin

NEM is a blockchain platform that was launched in March of 2015. It was one of the pioneers of the cryptocurrency industry, and sought to improve on the imperfections found on other chains at the time. It was one of the first non-turing complete chains to feature user-defined tokens (called mosaics), namespaces, multisignature accounts, and a P2P reputation system based on EigenTrust++. Its most notable contribution to the space is the proof-of-importance consensus mechanism, which sought to reward on-chain activity and deter the concentration of wealth commonly associated with proof-of-stake. Its client, NIS, is written in Java.

NEM has a global community. It sees the most utility as an alternative form of payment for businesses and vendors, and has a variety of social media apps built on top of it in Japan, such as nemgraph, a community-driven owned and operated alternative to Instagram.

In December 2021, NEM was hard forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Harlock, this hard fork signaled the community’s intent to take NEM from a shadow of its former self into the world’s leading payments platform for on-chain and off-chain media content.

IOST describes itself as an “ultra-fast,” fully fledged and decentralized blockchain network and ecosystem with its own nodes, wallets and based on the “next-generation” consensus protocol dubbed “proof-of-believability.”

IOST

Lisk is striving to on-board 100,000,000 users into crypto and web3 by offering an accessible blockchain application platform and an industry leading JavaScript SDK.

Released in 2019, the Lisk SDK enables developers to build application-specific blockchains entirely in JavaScript, the most widely used programming language in the world. To get a deep-dive into the Lisk SDK, please visit the Lisk SDK documentation or watch Lisk.js 2019 and Lisk.js 2022.

To be released in 2022, the Lisk blockchain application platform allows interoperability between all application-specific blockchains built with the Lisk SDK. With other words, users will be able to use DeFi, NFT or Metaverse blockchain applications on Lisk.

To better understand why Lisk is important watch the following videos: The Case for Lisk and The Ultimate Vision for Lisk.

If you are curious about Lisk’s history and journey, watch Looking Back on Lisk.

The Lisk project is managed by the Lisk Foundation, a non-profit entity based in Zug, Switzerland. A local team of experts specialized in law and finance, as well as yearly audits, ensure the proper handling of funds and regulatory compliance under the supervision of the Swiss Federal Foundation Supervisory Authority (ESA, Eidgenössische Stiftungsaufsicht).

The Lisk products are developed by the Lightcurve GmbH, a Berlin based blockchain studio. With a team of over 40 blockchain experts, Lightcurve is researching, developing and promoting the Lisk SDK and the Lisk blockchain application platform.

Lisk

Komodo

MiL.k

sUSD is a synthetic USD token enabled by the Synthetix protocol. It tracks the price of the US Dollar through price feeds supplied by Chainlink’s decentralized network of oracles. sUSD is integrated across the DeFi ecosystem as one of the most liquid decentralized stablecoins, including at Curve. It can be traded without slippage for other assets native to the Synthetix protocol at Kwenta or Synthetix.Exchange.

sUSD

Augur

Firo (FIRO), formerly known as Zcoin, is a cryptocurrency that focuses on being private digital cash. It created the Lelantus privacy protocol which allows users to burn their coins and redeem them later for brand new ones that do not have any transaction history.

Prior to Lelantus, it was also the first cryptocurrency to code and launch a practical implementation of the Zerocoin protocol which became one of the most prevalent privacy protocols in use, prior to it being replaced by Sigma and then Lelantus after cryptographic flaws were discovered in the Zerocoin protocol in 2019.

Firo

ThunderCore

Bytom

Qtum (pronounced ‘“quantum”)  is a proof-of-stake (PoS) smart contract open-source blockchain platform and value transfer protocol. It aims to bring together the strengths of Bitcoinand Ethereumin one chain. Qtum is built on Bitcoin's UTXO transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi applications. As of March 2021, there are more than 20 tokens created on the Qtum blockchain.

To learn more about this project, check out our deep dive of Qtum.

The project was announced in March 2016 and held an ICO a year after, in March 2017, which brought its founders $15 million USD. The Qtum main chain was released on Sept.13, 2017. Initially, the Qtum coin was issued as a ETH-20 token, but with the launch of the mainnet, it was converted to native blockchain.

Qtum

ABBC is a blockchain platform that enables secure payment transactions, helping to facilitate retail adoption of cryptocurrencies and make shopping online with digital assets a safer, more enjoyable experience for end-users.

The platform offers three main products: a multi-platform wallet capable of supporting Bitcoin (BTC) and Ethereum (ETH), in addition to a variety of other native cryptocurrencies and ERC-20 tokens; an online shopping application that can be used to shop at over 50 online retailers with cryptocurrencies; and a cryptocurrency exchange platform that offers secure trading and low transaction fees.

The ABBC Coin was created to give holders the ability to govern the development of the ABBC platform by delegating voting power to chosen block producers (BPs) — who are then able to vote on governance proposals. These governance proposals can be on a range of topics but might include launching strategic partnerships, implementing new features or expanding ABBC's services to new regions. Beyond this, ABBC Coins were created as a reward system for online shoppers and can be staked for regular rewards.

ABBC is currently based on the EOSIO blockchain, which enables it to achieve up to 5,000 transactions per second (TPS) while remaining environmentally friendly due to its energy-efficient delegated proof-of-stake (DPoS) consensus mechanism.

ABBC Coin was initially known as Alibabacoin but changed its name in March 2019 following a dispute with Chinese multinational e-commerce giant Alibaba.

ABBC Coin

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.

The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.

OMG Network

Steem is a community-focused blockchain that creates an instant earning opportunity for the network’s users. The protocol is designed to provide an earning opportunity for customers based on their value to the network. It is designed to provide users with a platform where they can post curated content online, and get paid in cryptocurrency.

The protocol is a publicly available, incentivized blockchain database that allows users to interact with each other and earn in return. It leverages technologies from both social media and cryptocurrency to provide users with value. The network ensures the fair treatment of contributors by running a reward structure that reflects each user’s contribution.

Steemit is the first app that was built on the Steem blockchain, and it launched on July 4, 2016. The protocol aims to provide value for its community of users in the following ways:

To provide thoughtfully chosen news and commentaries.

Creating an opportunity to earn.

As a source that offers answers to users’ inquiries.

Offering a stable cryptocurrency pegged to the USD.

Steem

JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable.

The platform launched in August 2020 following an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform (JST) has been circulating since May 2020.

It is a two-token ecosystem built around the USDJ and JUST (JST) tokens. USDJ is a multi-collateral stablecoin that has its value pegged to the value of the US dollar (USD), whereas JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.

To obtain USDJ on JUST, traders need to deposit collateral in the form of supported collateral tokens — including TRON (TRX), which are exchanged to PTRX tokens and locked as collateral forming a collateralized debt position (CDP). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral.

The platform is designed to provide a fair and borderless hub of DeFi products, that any TRON user can access.

JUST

BitShares Blockchain is a decentralized “Blockchain as Organization” (BaO); an industrial-grade decentralized open source platform built to run high-performance financial technology operations. It represents the first decentralized autonomous decentralized community that enables its core utility token (BTS) holders to decide the Blockchain future direction in order to develop and maintain a wide range of decentralized financial technology products, features and functions. BitShares Blockchain is a Blockchain that permanently records financial technology operations between different Blockchain accounts and facilitates a wide range of access controls across BitShares Blockchain user financial means.

BitShares Blockchain is a technology that supports the digital generation entrepreneurs, investors, and developers with a common interest in building and participating in free market solutions by leveraging the power of globally decentralized consensus and decision making. Consensus technology has the power to do for economics what the internet did for information. It can harness the combined power of all humanity to coordinate the discovery and aggregation of real-time knowledge, previously unobtainable. This knowledge can be used to more effectively coordinate the allocation of resources toward their most productive and valuable use.

BitShares looks to extend the innovation of the Blockchain to all industries that rely upon the internet to provide their services. Whether its banking, stock exchanges, lotteries, voting, music, auctions or many others, a digital public ledger allows for the creation of distributed autonomous companies (or BaO) that provide better quality services at a fraction of the cost incurred by their more traditional, centralized counterparts. The advent of (BaO) ushers in a new paradigm in organizational structure in which companies can run without any human management and under the control of an incorruptible set of business rules. These rules are encoded in publicly auditable open source software distributed across the computers of the companies’ shareholders, who effortlessly secure the company from arbitrary control. BitShares does for business what bitcoin did for money by utilizing distributed consensus technology to create companies that are inherently global, transparent, trustworthy, efficient and most importantly profitable.

BitShares has went through many changes and has done its best to stay on top of Blockchain technology. BitShares is using Consensus as the mechanism by which organized people decide upon unitary rational action. While not considered technology in the traditional since, consensus “technology” is the basis of democratic governance and the coordination of free market activity first coined by Adam Smith as the “Invisible Hand.” The process of consensus decision-making allows for all participants to consent upon a resolution of action even if not the favored course of action for each individual participant. Bitcoin was the first system to integrate a fully decentralized consensus method with the modern technology of the internet and peer-to-peer networks in order to more efficiently facilitate the transfer of value through electronic communication. The proof-of-work structure that secures and maintains the Bitcoin network is one manner of organizing individuals who do not necessarily trust one another to act in the best interest of all participants of the network. The BitShares ecosystem employs Delegated Proof of Stake in order to find efficient solutions to distributed consensus decision making.

BitShares

Wrapped NXM (wNXM) is a 1-to-1 backed token that can only be generated by wrapping genuine NXM.

NXM can only be traded among Nexus Mutual members, while wNXM is fully tradable but can't be used at all within the Nexus Mutual protocol.

Wrapped NXM

Peercoin, also known as PPC or Peer-to-Peer Coin, was created by Sunny King and his team and launched in August 2012. It is the first blockchain to implement Proof-of-Stake consensus.

The primary inspiration behind the creation of Peercoin was to address a number of perceived shortcomings of Bitcoin, including energy efficiency, security and sustainability, decentralization and long-term viability.

Essentially it was designed as an enhanced replacement for Bitcoin. As such, it was originally forked from Bitcoin and uses the same UTXO style blockchain. However, Peercoin's code was modified to introduce Proof-of-Stake as its primary consensus protocol. The next section explains how this makes for a better blockchain.

Given that Peercoin uses most of the same code, it can easily port new features from Bitcoin and utilize any of the supporting infrastructure, including tech advancements like Taproot or Lightning Network. Peercoin is the only Proof-of-Stake blockchain that uses modern Bitcoin code, making it the perfect drop-in replacement.

Peercoin also has a dedicated community, is actively developed, fairly distributed, has low barriers of participation, can do everything that Bitcoin does, minus the 13 TWh of energy usage, and it's not a scam.

Peercoin

Strike is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several markets supported by the platform.

When a user deposits tokens to a Strike market, they receive sTokens in return. These sTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive sETH in return. Over time, the exchange rate of these sTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.

On the flip side, borrowers can take a secured loan from any Strike pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 80%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.