What is Mao Zedong Coin?
Mao Zedong Coin is a cryptocurrency . It serves primarily to disseminate the ideological-political ideas of Mao Zedong. The coin is currently $ 0.15 worth and has a market capital of 970 thousand dollars, of which nearly 650 US dollars are traded daily. (As of: 16.12.2017)
Mao Zedong Coin – The Cryptocurrency
The main purpose of the cryptocurrency is to disseminate the ideological thought of Mao Zedong. The crypto magazine dissociates itself from political points of view, which is why at this point not to go into detail on the ideology. Nevertheless, the historical person Mao Zedong will be discussed. Meo Zedong was a Chinese revolutionary, author and politician. Between 1943 and 1976 he was the chairman of the Central People’s Government in China, 1954-1959 the Chairman of the People’s Republic of China. His politics and, above all, his ideas are also known as “Maoism”.
Under the rule of Mao Zedong, China developed from an agrarian feudal state into a major power. But the programs and campaigns promoted by Mao Zedong caused the death of millions of people. In addition, economic struggles, China’s cultural heritage, and the entire social fabric fell victim to the “Kulturkampf”. It is therefore critical to consider the extent to which the cryptocurrency Mao Zedong Coin should be supported. However, everyone can decide for themselves.
Mao Zedong Coin – Specifications
The cryptocurrency is also known under the abbreviation MAO. It is minted with the X11 algorithm. The Difficulty is based on the Kimoto Gravity Well (KGW) principle, which means that the Difficulty is adjusted again after each geminten block. In advance, 14,000 blocks were minted by a PoW algorithm. Currently, the cryptocurrency works with a PoS algorithm and a PoW algorithm. Miners receive a reward of 888 MAO per 15 block acknowledgments per geminte block. The minimum staking time is 12 hours and the maximum staking time is 12 days.
Mao Zedong Coin – The goal
The cryptocurrency wants to reduce the influence of other cryptocurrencies , which have an ideological basis. As an example, the Putin Coin is called. On their own website, the developers defame Putin as a failure and put Mao Zedong as the “true” ideologues in the foreground.
crypto currencies such as the PutinCoin or the MAO are a testament to the revolutionary potential of cryptocurrencies. This potential should be used wisely and can not continue if the basic idea of further developments is met. The idea of Satoshi Nakamoto is greater independence through a decentralized financial system. Cryptocurrencies have the potential to change social structures. They offer people the opportunity to work with digital money, irrespective of central institutions, and prevent the misuse of power positions and trust. This allows people worldwide more freedom. It is very doubtful whether the described potential should be used to shape a non-free world, which is the case when unilateral political ideologies are propagated. It should be noted that Krypto Magazin reports only critically and descriptively on the individual crypto currencies.
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