MonaCoin

MonaCoin(MONA)

Very much like a dogecoin, Monacoin created as an experiment. This Japanese cryptocurrency doesn't offer much-added benefits than using coins like litecoin. Mostly adopted in Japan
  • Market Cap
    $198.831.868
  • Price
    $3.3289
  • Category
    Payments & Currency
  • Origin
    Japan
  • Team Size
    10-15
  • Initial Release
    01/01/2014
  • 10-8 High Potential
  • 8-7 Potential
  • 7-6 Considerable
  • 6-5 Risky
  • 5-0 Scam
Satoshi Rating
  • Product Ratings
    6.7
  • Team Ratings
    5.7
  • Execution Ratings
    6.7
Product
  • The need for the product ⓘ

    9
  • Total addressable market size ⓘ

    9
  • Product/market fit ⓘ

    6
  • How is the product compared to existing solutions? ⓘ

    6
  • How difficult is to make the product? ⓘ

    6
  • Could this product scale? ⓘ

    7
About Product
Created by an anonymous character on Japan's 2channel online form, Monacoin is a fork of litecoin. The coin is based on an internet meme of a type-written cat. Monacoin follows current advancement in technologies like lightning network and is designed to resist centralized mining
Team
  • Team's previous experience ⓘ

    6
  • Does the team have a clear vision? ⓘ

    6
  • Is technical team sufficient for building the product? ⓘ

    7
  • Is the team active? ⓘ

    7
  • Is the team size big enough? ⓘ

    5
  • How is the team growth? ⓘ

    5
About Team
Core development team doesn't work on the project anymore (unlike most coins) development is done by monacoin foundation. In 2018 code commits on the GitHub slowed down. It is mostly community driven project.
Execution
  • Could this team get the product into a market? ⓘ

    7
  • Could they do it in time? ⓘ

    7
  • Did they meet previous deadlines? ⓘ

    7
  • Is the marketing strategy sufficient? ⓘ

    7
  • Team’s previous achievements ⓘ

    7
  • Strategic partnerships ⓘ

    8
  • Current market size ⓘ

    7
About Execution
The interesting thing about monacoin is that the adoption in Japan. This coin mostly traded on JPY pair, there are ATM's that accept monacoin on Japan. Websites like monappy and aksmona give coin holders market place to spend. Some of the large online retail stores accept the use of monacoin.
Editor's note

It seems like the success of monacoin was driven by Japan's desire to create its own version of cryptocurrency. Usage of the coin might grow and with the more professional approach on monacoin foundation it might become much better than it is. However, there are already better and growing products out on the market. While we beileve monacoin is here to stay, we find it cute and speculative.

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Initial Rating: April 24, 2018

Last modified: June 4, 2018