MonaCoin (MONA)

MonaCoin (MONA) is the first Japanese cryptocurrency, created in December 2013. It is based on the famous ASCII art motif “Mona”. Unlike centralized cryptocurrencies, MonaCoin operates as a completely decentralized payment system, maintained by programs executed on each user’s PC.

While most cryptocurrencies tend to have a speculative nature, MonaCoin has continued to develop as a community-driven cryptocurrency, with users contributing to the development of various services, establishing shrines, and engaging in wordplay tipping, among other unique use cases not commonly seen in other cryptocurrencies.

The program for MonaCoin is developed by Monacoinproject, although they do not issue or operate the coin. Monacoinproject has no affiliation with 5channel, 2channel, or any related companies. Starting from version 0.16.2, checkpoint delivery is performed, but users can reject it. MonaCoin’s technical details include an algorithm of Lyra2RE(v2), a block time of 1.5 minutes, a block reward of 12.5 MONA, a total of 105,120,000 coins, and a subsidy halving every 1,051k blocks, approximately every 3 years. The difficulty is re-targeted with every block using the Dark Gravity Wave v3 algorithm. The coin was not premined.