Introduction – what is Mooncoin?
Mooncoin is a simple, reliable and transparent cryptocurrency. It’s particularly impressive due to its efficient transfer speeds, offering faster transfers than Bitcoin. The main application of this cryptocurrency is in the area of micropayments, with transaction speed serving as a particular strength in this area.
In addition, the coin is available to anyone, with no restrictions on access by the operator.
The developers of Mooncoin wanted to create a token that would not only be used as a conventional cryptocurrency, but could also revolutionize the area of small transactions with values below five euros. Currently, many payment providers rely on credit cards and direct debits so that the market cannot yet be fully exploited.
Mooncoin as a complete ecosystem
Mooncoin is more than a simple cryptocurrency. Rather, the Mooncoin token is just one part of a larger ecosystem. This ecosystem consists of the token itself, Moon Word and Smart Likes. According to the developers, the ecosystem can clearly distinguish itself from competitors.
There are several reasons for this – the speed, simplicity, reliability and overall transparency of the network are all key selling features.
Furthermore, the platform is very user-oriented. The platform was not created in haste and there are fair conditions for use. A mechanism is also integrated to prevent criminal activity. The entire blockchain is distributed over a peer-to-peer network so that millions of users can secure it. This also makes decentralization a reality.
The market activity of the developers within the cryptocurrency sector is long-term. The team has been active on the market for three years now. In order to avoid a rapid loss of value, the developers have planned for slow inflation.
In addition, tokens are purchased and destroyed as part of buyback campaigns, so that only a minimal dilution of value takes place. Nevertheless, the blockchain has been developed for the future, so there are enough tokens for everyone.
Due to its speed, the blockchain is also suited for microtransactions. In reference to the name of this cryptocurrency, the maximum number of coins was limited to the average distance between the Earth and the moon.
Moon Word – an innovative programming language
Mooncoin is a perfect solution for people and companies that are thinking about developing their own blockchain. The developers have developed their own programming language, which is designed for building suitable applications on Mooncoin. Special emphasis was placed on the platform flexibility and open source features.
The appropriate programming language was published under the name Moon Word. This is a programming language designed for Mooncoin, which can be used for developing new applications and analyzing legacy data. The technical specifications ensure that the Mooncoin blockchain is perfect for the direct collection of transaction information.
In particular, the low block time, the light blockchain design, the low transaction costs and the high token quantity make the blockchain perfect for this application. To take advantage of these benefits, the Moon Word programming language can be utilized. Current features only hint at what could be implemented with this programming language in the future.
More than seven characters can be used per operation – this allows extensive programs to be written and executed. Nevertheless, it is not possible to change already stored information by using the programming language. This is due to the fact that permanence of information is one of the basic requirements for consistency of the blockchain.
Smart Likes – the decentralized platform
The last element of the network is known as Smart Likes. The idea behind this platform is that so-called Likes become an alternative to classic investments.
According to the developers, Mooncoin tokens are distributed to users for information sharing. It doesn’t really matter what gets a Like, because the increasing interest of the network also increases the remuneration for the Like. In this way, the interests of users are to be clarified and remunerated in the long term.
In addition, the goal is to create a smart community that forms a kind of swarm intelligence to address specific problems. The corresponding teams should result from the respective interests of the users and their intention to make improvements.
Mining of Mooncoin
The Mooncoin token is traded on the market under the handle of MOON. In addition to the regular purchase of the token, prospective customers can also mine to obtain the tokens. A proof-of-work algorithm is used to adjust the current difficulty, every eight hours. In addition, advance mining was dispensed with when the token was published, so that it was distributed fairly.
Mining should enable an inflation rate of no more than 1 percent per year, so that investors’ deposits are only subject to conventional price fluctuations. Mining rewards are also halved every 100,000 blocks, so that a reward of 17,906 tokens is paid for 1.1 million blocks or more. Subsequently, the token is halved from 1.2 tokens.
How has the market capitalization of Mooncoin developed?
When the Mooncoin was released, the initial market capitalization was approximately 60,000 US dollars. By the beginning of 2017, it had risen to a level of 150,000 US dollars. This was followed by an increase to 33 million US dollars. However, this was later balanced out by subsequent consolidation.
The actual rally started in December 2017, when the token set new records almost daily. It reached a market capitalization of 173 million US dollars on January 7, 2018. The general crypto consolidation resulted in a downturn to 30 million US dollars.
In addition to this, a volume of around 26,000 US dollars is traded on a daily basis. Most of this volume is realized by trading between Bitcoin and MOON.
Coin-Report.net was founded by Thomas Mücke.
With the help of Coin-Report.net magazine, he tries to bring light to the field of crypto-currency.