From Wikipedia, the free encyclopedia
MazaCoin
MazaCoin logo
Denominations
CodeMZC
Precision10−8
Development
Original author(s)Payu Harris, AnonymousPirate
White paper mazacoin.org/docs/MAZA-whitepaper-2014.pdf
Initial release7 February 2014; 10 years ago (2014-02-07)
Code repository github.com/MazaCoin/maza
Project fork ofZetacoin, Bitcoin
Written in C++
Operating system Windows, OS X, Linux
Source model Open source
License MIT License
Ledger
Timestamping scheme Proof-of-work
Block reward250 MAZA (as of September, 3 2021), (halved every 950,000 blocks)
Block time1 minute
Block explorer mazacha.in
Website
Website Official website Edit this at Wikidata

MazaCoin (Maza, MZC) is a cryptocurrency launched in 2014. [1]

History

MazaCoin was developed by Payu Harris in 2014. [2] MazaCoin was specifically designed for the Oglala Lakota tribe in South Dakota. [3] Some Native Americans adopted the use of MazaCoin to battle the US Government. [4] [5] [6]

In October 2017, a Mashable article on the Oglala Lakota included a video about Harris's efforts to get MazaCoin accepted. [7]

Recognition and use

The currency was adopted by the Lakota Nation in 2014, with half of its supply reserved by the tribe to minimize the price volatility common in cryptocurrencies. [8]

In 2017, The Lakota leadership formally recognized MazaCoin as their national currency, yet this decision encountered skepticism within the community. [8] The concept of digital currencies, heavily reliant on technology such as apps and smartphones, was less accessible to older generations and those without consistent internet access. [8] To counteract this, a system of paper wallets was developed, allowing MazaCoin to be stored and used in a more traditional, physical format. [8] This system allowed tribal members to use MazaCoin in physical form for transactions within the community, converting it back to digital format at the centralized facility. [8]

References

  1. ^ Vigna, Paul (March 7, 2014). "Lakota Indian Promotes New Digital Currency, Mazacoin" – via www.wsj.com.
  2. ^ "He created an indigenous digital currency. The dream is still alive". MIT Technology Review. Retrieved 2023-11-26.
  3. ^ Browning, Lynnley (2014-08-14). "Tribal Bitcoin". Newsweek. Retrieved 2023-12-24.
  4. ^ Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". theverge.com. Archived from the original on March 5, 2014. Retrieved September 4, 2017.
  5. ^ Consuji, Bianca; Engel, Evan (18 September 2014). "No Country for Cryptocurrency This man thinks "Bitcoin for Native Americans" can solve tribal poverty. So why won't anyone give him a chance?". Mashable. Retrieved 13 April 2016.
  6. ^ Landry, Alysa. "9 Questions Surrounding MazaCoin, the Lakota CryptoCurrency: Answered". Indian Country Today. Indian Country Today. Archived from the original on 9 October 2016. Retrieved 13 April 2016.
  7. ^ Petronzio, Matt (9 October 2017). "Why Square commissioned this stunning short film about Native American youth". Mashable. Archived from the original on 2017-10-09. Retrieved 2019-01-06.
  8. ^ a b c d e Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". The Verge.

Further reading

External links

Retrieved from " https://en.wikipedia.org/?title=MazaCoin&oldid=1191943943"