MonaCoin MONA to Ethereum Classic ETC Exchange

Crypto Pair Details: MONA to ETC

MonaCoin MONA

MonaCoin is an open source digital currency and a peer-to-peer (p2p) payment network. Dubbed by its creators as “the first Japanese cryptocurrency,” the coin has become somewhat of Japan’s national alternative to Bitcoin or Litecoin. Like its predecessors, the coin was created purely to serve as P2P electronic cash, a decentralized digital currency aimed at Japanese citizens. There are a few key differences that set it apart from the coins that came before it, and this guide is dedicated to drawing out these differences. Conceived in December of 2013, Monacoin was officially born on January 1st, 2014 with no premine. A Bitcoin Talk Forum on the same date details the coin’s launch and its specifications. A soft fork was executed at block 937440 to implement Segwit, a move made to keep it in line with Bitcoin, Litecoin, Vertcoin, and other payment-focused cryptocurrencies. In addition, the Monacoin team has reportedly implemented the Lightning Network for their coin. Speaking of soft forks, Monacoin is actually a hard fork of Litecoin, something we’ll take into account further as we look into its specs below. Monacoin was originally founded by the pseudonymous Mr. Wantanabe, no doubt in homage to Bitcoin’s Satoshi Nakamoto. Besides this pen name, the rest of the coin’s team is completely anonymous, so there’s nothing to report on here. In addition, the project has no visible roadmap on its site or anywhere else online. The team does seem to stay on top of updates and upgrades, however, as the Segwit and Lyra2REv2 updates and Lightning Network implementation suggest. It is popular in Japan where it was developed. It Uses Lyra2REv2 and Dark Gravity Wave v3 algorithm to ensure fairer mining opportunities, success rate and difficult levels of mining process respectively. Monacoin is the first cryptocurrency from Japan. It has received wide support and success in the country and is not crossing the national boundary to try and become a global phenomenon. While that is not going to happen in the next year or two, it does have the making of a good crypto token. It is steadily improving its service and has constantly strived to give its users the best possible experience. When Scrypt compliant ASIC miners appeared they switched to Lyra2REv2 to ensure the mining MONA remains a fair battle between miners from around the world. The instance of a Japanese national using Monacoin to buy land made news in the country and beyond, spreading the popularity of the coin.

Ethereum Classic ETC

Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain - the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Transaction Finality Ethereum Classic believes the core value proposition of any blockchain is immutability; valid transactions can never be erased or forgotten. Individuals interacting on Ethereum Classic are governed by this reality; Code is Law. This does not necessarily mean that code replaces existing laws, or that only code is law (there are many geographical jurisdictions), but it gives users the opportunity to enter into a new blockchain-based jurisdiction where agreements are governed by code. By entering into contracts on Ethereum Classic, you can be certain that the network remains neutral. The outcome of transactions will be dictated by code you voluntarily interact with. Unless explicitly defined by the contract code, there are no reversals, no undos, no opt-outs. Transactions are final; applications are unstoppable. Decentralized Governance There are many problems that fester due to centralization and opaqueness; corruption, unaccountability, nepotism, inefficiency and stagnation. Ultimately, centralization leads to fragility; only decentralized systems can stand the test of time. These problems can be only solved by adhering to governance systems that do not rely on a central point of failure. Just like distributed networks and the consensus protocol itself, we believe that only truly decentralized projects can survive in the long run. Ethereum Classic manifests these values by relinquishing control by a formalized central foundation. The only hierarchy is that of transparent meritocracy and mutual reputation. No backroom deals or behind-closed-doors unilateral decision making; just free and open discourse.

SOURCE: COINGECKO

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