MazaCoin (MZC) is the first sovereign currency as well as Official National Currency of the Traditional Lakota Nation and a fork of the ZetaCoin that branched from BitCoin.
|Mkt.Cap||$ 1.03 M||Volume 24H||0.00000000 MZC|
|Market share||0%||Total Supply||2.15 B MZC|
|Proof type||PoW/PoS||Open||$ 0.0006|
|Low||$ 0.0006||High||$ 0.0006|
[SHA-256] MAZACOIN *First Sovereign Currency* ANDROID WALLET AVAIL.!!
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Decentralized consensus has therefore been achieved with a blockchain. Blockchains solve the double-spending problem without the need of a trusted authority or central server, assuming no 51% attack (that has worked against several cryptocurrencies). Most cryptocurrencies are designed to gradually decrease production of that currency, placing a cap on the total amount of that currency that will ever be in circulation. Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies can be more difficult for seizure by law enforcement. This difficulty is derived from leveraging cryptographic technologies. A blockchain account can provide functions other than making payments, for example in decentralized applications or smart contracts. In this case, the units or coins are sometimes referred to as crypto tokens (or cryptotokens).
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Now it is being traded on cryptocurrency exchanges around the world. What happens next is anyone’s guess. "Introducing Ledger, the First Bitcoin-Only Academic Journal". Archived from the original on 10 January 2017. Lee, Justina (13 September 2018).
The underlying software for MazaCoin is derived from that of another cryptocurrency, ZetaCoin, which in turn is based on bitcoin's SHA-256 proof-of-work system. The Lakota Nation anticipates that 2.4 billion MazaCoin will be produced within five years, and drop to 1 million MazaCoin per year thereafter.
"Wary of Bitcoin? A guide to some other crypto currencies". Wired UK. Condé Nast UK. MazaCoin reached its highest price on 4 March, 2014, when it was trading at its all-time high of $ 0.125041.
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"Mystery of the $2 Billion Bitcoin Whale That Fueled a Selloff". Archived from the original on 19 December 2018.
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.
It has a circulating supply of 1.06B MZC. Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold.
Various government agencies, departments, and courts have classified bitcoin differently. China Central Bank banned the handling of bitcoins by financial institutions in China in early 2014. Cryptocurrency exchanges allow customers to trade cryptocurrencies for other assets, such as conventional fiat money, or to trade between different digital currencies. Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance.
A few local businesses have agreed to start using the currency in addition to cash. So the value of each Native currency, which would be strong anyway because of public sentiment, would have a backup to its value in practical terms, but the mechanics would depend on a substantial amount of Mazacoin being available to fulfill that obligation.
Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. MazaCoin (MZC) is the first sovereign currency as well as Official National Currency of the Traditional Lakota Nation and a fork of the ZetaCoin that branched from BitCoin. 2) Initially Mazacoin devs agree to support the network, make sure it stays afloat, and agrees that when outside trading in the coin starts, in a year or whenever, the Native currency will be fully convertible to MZC on a market cap basis, in one direction only. So a holder of 1% of the Native coin could swap it for 1% of the supply of MZC, but not the other direction. This would not be necessary but it would provide a ground floor to the Native currency's value if it ever became necessary.
- As of February 2018[update], the Chinese Government halted trading of virtual currency, banned initial coin offerings and shut down mining.
- Archived from the original on 4 October 2011.
- A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend the cryptocurrency.
- A number of these coins were handed out to interested businesses and individuals within the community, to encourage them to get involved in trading and speculating.
- At the beginning of 2014, Harris signed an agreement with the Oglala Sioux tribe economic development Department and now this cryptocurrency is in circulation on the territory of the Lakota reservation.
If a Native tribe issues their own currency, with 100% of the coins going to speakers of the language of a particular coin, and if trading with other currencies is restricted for a while to let an ecosystem develop, the coin will have actual distribution that benefits them. Archived from the original on 23 December 2016. Sarah Jeong, DEA Agent Who Faked a Murder and Took Bitcoins from Silk Road Explains Himself Archived 29 December 2017 at the Wayback Machine, Motherboard, Vice (25 October 2015).
After signing a joint venture agreement with the Oglala Sioux Tribe Office of Economic Development early in 2014, Harris immediately began mining his new currency to produce 25 million MazaCoins ahead of its launch to serve as a “national reserve” for the Lakota Nation, which can then be used in times of crisis (like the collapse of Mt. Gox) to help stabilize the currency. A number of these coins were handed out to interested businesses and individuals within the community, to encourage them to get involved in trading and speculating. On Monday of this week, the genesis block of this new currency was hashed, so that all future transactions can be traced back to it, and 500 MazaCoins were produced and dedicated to the “Great Spirit and the prosperity and wealth of the Oglala Lakota Nation”.
You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on CoinWalletGuide.com and wish to rely upon, whether for the purpose of making an investment decision or otherwise. I have setup a new Mazacoin mining pool and would love for users to make use of it. 3) When a second coin is issued, MZC does the same. At this point Maza will be stretched thin, and would not be able to cover the obligations of both coins, but it would cover the weakest of the two coins. Same for a third and fourth.
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With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency. With the public key, it is possible for others to send currency to the wallet.
No shops are known to accept it. Steadman, Ian (May 7, 2013).
Maza would be providing a guarantee to the value of the weakest coin on the network, and if that were cashed in then Maza would be toast, or very fragile, but it would be more accurately serving a Native economy. As a white person, MZC suits me, it's a widely held reliable coin made by a guy with good intentions. Better than most coins and the only coins I favor over it are math and science coins like grc. Maza could be used initially to secure the networks of those coins, since these people would not be major tech types for the most part, and also to provide liquidity with outside markets, though that should not be restricted to MZC.
"All you need to know about Bitcoin". timesofindia-economictimes. Archived from the original on 26 October 2015. Did not ignore the news and representatives of the FBI, who called the leader of Lakota, to warn him that in fact bitcoins and other cryptocurrencies are not a legal means of payment, ie currency. The FBI allegedly phoned the Lakota chief to inform him that Bitcoin and other cryptocurrencies are still not legal, but Harris appears undeterred, and is launching an educational campaign as to how the alt-coin works, working along the same principles as Bitcoin.
There are a number of Native languages that have gone extinct, but there are also quite a few with a very limited number of speakers. If a coin were issued in such a way that each Native speaker was given a wallet with a hardcoded amount that could not be spent, but which produced a fair number of coins through proof of stake, the coin would get far more support than even Maza got, even if it were not immediately available to outsiders. It would produce a financial bonanza for the remaining fluent speakers of those languages, along with some credibility that would come with a coin that had genuine muscle. As of February 2018[update], the Chinese Government halted trading of virtual currency, banned initial coin offerings and shut down mining. The validity of each cryptocurrency's coins is provided by a blockchain.
Based on the Bitcoin protocol, the blockchain database is shared by all nodes participating in a system. Cryptocurrencies make tracking donations easier and have the potential to allow donors to see how their money is used (financial transparency). A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend the cryptocurrency.
There may be a number of ways to do that, but taking a lesson from the mainstream economy, MZC could be diluted at any point by a hard fork if necessary. So if 5% of MZC supply is needed to cover a massive exit from a Native currency, very unlikely but possible, MZC devs could hardfork a large quantity of Mazacoins into existence for that purpose. An idea that has been discussed elsewhere is creating Native currencies distributed entirely, and only, to speakers of Native languages.