Description
Monacoin, which was created in December 2013, is Japan's first alternative cryptocurrency. It is based on the ASCII art character, Mona. Monacoin is a fully distributed payment system maintained by its users through client applications, rather than being controlled by a single entity. Unlike many cryptocurrencies treated as speculative assets, Monacoin has been popularized and developed by its community. Users have created various Mona-based web applications and services, and use the coin in unique ways, such as for tipping in word games. The main client was developed by Monacoinproject, but the project does not issue or manage the currency.