A whole of host of cryptocurrencies have been launched in the last 5 years or so but few have had a humanitarian component as strong as Mazacoin (MZC). The digital coin was launched in 2014 as the official currency of the traditional Lakota Nation, the Native American tribe in the United States of America. This is the first bold step by its developers and brings to the digital currency space a truly unique offering.
Mazacoin was so named because of the derivative terms of Maza and Ska, both terms coined originally by the Lakota Sioux. The coin itself was spun off from the original Zetacoin, itself a digital token developed on the back of the Bitcoin protocol. MZC as it was designed for intended use was built to be secure, scalable, and value-oriented. The last feature was designed on the back of the SHA-256 proof-of-work encryption standard. This was done deliberately to help MZC imitate the value curve depended upon by traditional precious metals that trade on the strength of their rarity and difficulty in being obtained.
MZC has also been built with environmental considerations in mind. Concerned about the clogging up of landfills via the heavy use of disposable mining hardware, developers of MZC has built into the SHA-256 framework a scenario where clogging is kept to a minimum. On top of that developers have not just developed a digital currency to appease those people concerned about native tribes in America. On the contrary the coin was developed with an expressed wish to help alleviate poverty among the Lakota people.
Practical working of the digital token has also been well thought out. Aside from the built-in focus on value-retention, developers have also expended a lot of time and energy ion ensuring that MZC is also stable and scalable. Using block-time targeting, developers have positioned MZC to withstand the deflationary pressures of volume trading on a scaled network. This is achieved through the careful deployment of a 120-second block time target with recurring readjustments on every four blocks that that is created.
Developers have also created a platform based cryptocurrency, allowing for the scalable build of smart apps and smart contracts. Both these two potentialities are a key part of making any digital token and its attendant platform value and it seems that is precisely what developers of MZC are going after. The main website for the token calls upon would-be developers to “contribute and help develop the network.” This is a call that if answered, could act as tremendous value-leverage for the actual token on the exchanges.
The big question now is whether traders, users and investors will respond with the same force of conviction as the developers. So far the coin itself has been pretty muted, having only reached a trading high of $0.015 back in March of 2014. Since then the token has struggled to reach the heights indicated by its inherent upside. In December there was a glimmer which suggested that things might be turning round for the token. The December high of $0.004395 has so far not launched MZC into any real stratospheric frenzy. As a result of the lackluster trading over the last few months MZC has barely managed to attract significant investor or trader attention. This can be seen in some pretty abysmal data, one central point being the sub-par market cap of around $931K. Daily volume is currently a paltry $1729; that’s before considering the over 1B in circulating supply for the cryptocurrency.
Despite all that, however, there is every bit the expectation that once traders and investors see the upside in MZC, it will take off. All eyes will be on MZC over the coming weeks and months.