Monacoin (MONA) is an online cryptocurrency based on P2P technology and an open source software project under the MIT/X11 license that enables users to make instant payments to anyone in the world. Launched on January 1, 2014, it is an established cryptocurrency growing in Japan and the first cryptocurrency in Japan, with a large support community in Japan.
The block time of Meng Nai coins is 1.5 minutes, and the output is halved every 3 years. Currently, each block contains 25 coins. It has activated SegWit and implemented Lightning Network features to better handle instant payments and cross-chain transactions. At the same time, it adopts Lyra2REv2 algorithm for POW mining, which can effectively prevent ASIC dedicated mining machine, so as to let more people participate in mining, better achieve decentralization, and effectively avoid 51% attack.
Thanks to the Open attitude of the Japanese government towards cryptocurrency and the broad support community, Monai coin is one of the few cryptocurrencies in the world that can support both online and offline shopping. Now more and more restaurants, retail stores and websites support Monai coin payment. In particular, Ark Akihabara, Japan's main electronics store, has also started accepting Menai payments. Currently, Moonai coins are available on several major cryptocurrency exchanges in Japan, the United States and South Korea.