Monacoin (MONA): how it works, supply and reviews
In short
- Consensus
- Proof of work, Lyra2REv2 hashing algorithm
- Maximum supply
- 105,120,000 MONA
- Risks and caveats
- Monacoin's proof-of-work network is small; the project itself distributes checkpoints that users may refuse, a central element in an otherwise decentralised network.
- Checked
- 1 November 2026
Visitor ratings: do you like Monacoin?
Key facts
- Ticker
- MONA
- Official site
- monacoin.org
Key facts checked on 1 November 2026 against official sources.
What is Monacoin
Monacoin (MONA) is a proof-of-work cryptocurrency launched in December 2013 as Japan's first cryptocurrency, named after the 'Mona' ASCII-art cat. The Monacoin Project develops the software but does not issue or operate the coin.
Network and consensus
| Parameter | Details |
|---|---|
| Consensus | Proof of work, Lyra2REv2 hashing algorithm |
| Block time | 1.5 minutes |
| Difficulty adjustment | Every block, Dark Gravity Wave v3 |
| Type | Decentralised payment network run by users' nodes, with no central operator |
| SegWit | Segregated Witness active on mainnet from block 977,760 |
| Software | Monacoin Core, open-source node and wallet software |
| Platforms | Monacoin Core is tested on Linux, macOS 10.12+ and Windows 7 and newer |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 105,120,000 MONA |
| Issuance | Block subsidy started at 50 MONA and halves on a fixed schedule |
| Halving | Every 1,051,200 blocks (about 3 years at 1.5-minute blocks) |
| Initial distribution | No premine; coins are issued only through mining |
| Developer allocation | The Monacoin Project held no coins at launch; developers obtain coins on the same terms as users |
What MONA is used for
- MONA is used as a payment currency on its own blockchain, including community tipping and services built by users.
- New MONA is issued to miners as block rewards.
Who develops and governs Monacoin
- Developer
- Monacoin Project develops the software but does not issue or operate the coin
- Company
- The Monacoin Project says it has no relation to the operators of the 5channel / 2channel forums or their affiliates
- Open source
- MIT licence; code on GitHub (monacoinproject/monacoin)
- Code base
- Built on Bitcoin Core and Litecoin Core code (copyright lines in the licence file)
History
| Date | Event |
|---|---|
| December 2013 | Monacoin is launched, described by its project as Japan's first cryptocurrency. |
| 12 September 2018 | Monacoin Core 0.16.2 is released; from this version the project distributes checkpoints, which users can refuse. |
| 19 September 2018 | Monacoin Core 0.16.3 fixes the CVE-2018-17144 denial-of-service bug inherited from Bitcoin Core. |
| 14 November 2021 | Monacoin Core 0.20.2, a new major version, is released. |
| 26 October 2024 | Monacoin Core 0.20.4 is released with a patch against CVE-2024-35202. |
Security and audits
- From version 0.16.2 the project distributes checkpoints; users can refuse them.
- Release 0.16.3 fixed the CVE-2018-17144 denial-of-service vulnerability inherited from Bitcoin Core.
- Release 0.20.4 (October 2024) carries a patch against CVE-2024-35202, and the project strongly recommends upgrading.
Security incidents
Incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so none is listed here.
Risks and caveats
- Monacoin's proof-of-work network is small; the project itself distributes checkpoints that users may refuse, a central element in an otherwise decentralised network.
- Software updates are infrequent: the latest release is v0.20.4 from October 2024.
- The README calls Monacoin an experimental digital currency.
Official links
- Website: monacoin.org
- Source code: github.com/monacoinproject/monacoin
- Blog: github.com/monacoinproject/monacoin/releases
Questions and answers
What is Monacoin?
Monacoin (MONA) is a proof-of-work cryptocurrency launched in December 2013 and described by its project as Japan's first cryptocurrency.
What is the maximum supply of Monacoin?
105,120,000 MONA. The block subsidy started at 50 MONA and halves every 1,051,200 blocks.
How does Monacoin work?
Miners secure the network with proof of work using the Lyra2REv2 algorithm; blocks come every 1.5 minutes and difficulty adjusts every block (Dark Gravity Wave v3).
Who develops Monacoin?
The Monacoin Project develops the open-source Monacoin Core software (MIT licence) but does not issue or operate the coin.
Sources
- Monacoin Project - Home
- Monacoin Core - GitHub repository (README)
- Monacoin Core - COPYING
- Monacoin Core - src/amount.h
- Monacoin Core - src/chainparams.cpp
- Monacoin Core - src/validation.cpp
- Monacoin Core - release notes 0.20
- Monacoin Core - release notes 0.16
- Monacoin Core - releases
- Monacoin Core v0.20.4 release
More in this section
- VeriDoc Global (VDG)
- Viction (VIC)
- Pakcoin (PAK)
- Navio (NAV)
- Polymesh (POLYX)
- House Party Protocol (HPP)
- All Crypto projects →
Related
How voting works
Votes are anonymous and carry no text. Each device has one vote per item; press the same button again to remove it. Cloudflare Turnstile checks that a person is voting. We keep a random device ID in a cookie and a salted hash of the IP address to limit abuse — no names, no accounts. Votes are visitors’ opinions, not investment advice.
Page updated: