Monacoin is a Japanese cryptocurrency. It's the first cryptocurrency developed in the country and the most popular altcoin there. Monacoin is a hard fork from Litecoin.
The developers of Monacoin wanted a cryptocurrency which would tackle the slow transaction time issue of its predecessors (such as Bitcoin and Litecoin), so transactions in their blockchain are confirmed notably faster. In addition, the blockchain has SegWit and Lightning Network implemented.
It reaches consensus throughShow more [+] -of-work, which is done with ASIC-resistant mining.