What is MonaCoin?
Monacoin is currently the most active community among cryptocurrency users in Japan because anyway it is Japanese first cryptocurrency. It is written in block algorithm Lyra 2REv2 and is based on a text character that looks like cat which has led to the nickname, 'cat meme coin'.
Today, millions of investors use the platform to transfer funds, buy and sell Monacoin and buy goods and services from the internet. The consensus algorithm that the platform uses is Proof of Work and its hashing algorithm called Scrypt. In its network, blocks are released every 90 seconds.
Japanese society has embraced this solidly with a geographic concentration atypical for most other coins. There is also a subsidiary subculture from the meme. This is because it is popular with adherents to the gamer/geek community in Japan. Monacoin tips are common among fans and creators of Manga.
Founder: Anonymous only known pseudonym as Mr. Watanabe
Release Date: January 2014