Munne is the new peer-to-peer, proof-of-stake cryptocurrency. Their main purpose is to ensure a visually attractive and easy to use product, and they have some interesting ideas for adoption.
“Munne was created as a real alternative to become the number one digital currency. It has been developed with the best current features. It is an investment in the future of Cryptos because this is a coin that will be around for the long-run!”
— – Mchrono
The initial coin offering for MunneCoin (MNE) was through Bittrex. 10 million MNE were offered for sale at a price of 5,500 satoshis each. 4,785,393.58250208 MNE were sold, raising 261 Bitcoin. The remaining MNE were sent to two proof of burn addresses which can be seen here and here. “This funding will help us accomplish every future goal we set for the coin, and will also give investors a chance to get into the coin at a very early stage and low price. ” Munne
Munne operates on their own blockchain. Although similar to Bitcoin, there is a key difference. The Bitcoin mining process consists of Proof of Work, which can be costly, requiring specialized hardware and high levels of electricity consumption. Munne uses Proof of Stake, the concept developed by PeerCoin in 2012. “[…] instead of mining, a process known as “minting” takes place. Minting is a process in which the users that possess Munne receive rewards for acting as nodes that solve blocks (boosting the net power) without the need of special hardware,” – Mchrono, Munne Dev and Co-Founder
Mchrono goes on to explain that minting is a characteristic process of Proof-of-Stake currencies. Users that possess “mature” coins, in Munne’s case coins in a wallet over eight hours old, are rewarded with interest. There are currently 4,787,556 MNE in circulation and their system has an annual interest rate of 3%.
Mchrono and Devplus have been working together for over three years and this is their first project working side by side in the cryptocurrency space. The initial idea came to them at the beginning of the year when they noticed Bitcointalk booming with many alternative coin startups. “We are ‘garage entrepreneurs’ that realized that there is a gap that needs to be filled. We saw that many people are tired of half-finished coins that are launched and then abandoned. We saw many well-intentioned projects that failed because they can’t expand their ideas” [Mchrono
In an effort to achieve adoption the Munne team have hired the increasingly popular PR Firm, Tranform PR, and seasoned their project with some unique features. The Munne Project includes a browser based game featuring a Mafioso theme. It has MNE as the in-game currency, and there will even be an in-game casino that will pay out in MNE.
The alpha version is ready to be sampled here. At the time of writing this article there are 94 registered users. In the future, the Munne team are hoping to adapt the game for facebook, Android and iOS. At present the game consists of four maps which characters can travel across to perform tasks such as bribery, theft and fighting. The characters are also able to write diaries and form their own families.
“You start as an immigrant to New York in search of the american dream and fulfill your goals. After a while, you’ll quickly discover that the American dream is not for everyone. There are many immigrants in the streets and there is little food and work available, but soon you’ll find a way to get money fast. Start your career to become the head of the Family,” Munne
With Mchrono and Devplus coming from a strong game development background, they have certainly created a unique position for themselves by utilizing these skills to facilitate adoption. In addition to the Munne Project, the team are also creating the Munne University, a social learning environment that offers knowledge on both MunneCoin and Bitcoin. Courses are arranged with lessons.
“We also devised another way of growing and at the same time solving the problem generated by the scarce knowledge and public fear towards cryptocoins and we named it Munne University. Munne University is a virtual educational platform in which everyone will be able to take online courses in the form of videos, documents and interactive programs in order to learn the functions of cryptocoins, how to use them and other related topics,”
— – Mchrono
The courses also incorporate simulations and students can achieve levels of achievement (medals) which will be visible in their profile. The more medals a person receives, the more they improve their reputation within the Munne community.
Currently it supports several different languages, either translated or subtitled, to provide access to as many different nations as they possibly can. This should prove to be a rich learning experience for people around the world with an interest in the cryptocurrency world.
These are not the only features offered by the team at Munne. Their new wallet is close to completing a comprehensive redesign and they intend to continue improving the user interface (UI). [Mchrono advises, “We know that a well-designed and useful wallet is important. We will continue improving the UI of the Wallet and adding interesting features, such as a rich list and an alias system.”
Munne’s philosophy is to solve the design flaws and slow adoption rates that they feel are evident in the cryptocurrency environment.
“This project’s greatest novelty comes from the fact that we are creating a visually attractive product that is easy to use and has the potential to spread on a massive scale, ensuring that it will not die in the forum’s environment. To summarize, we consider that first, a currency has to be popular, attractive and user-friendly and then you can create useful features, which is the way we plan to follow,”
— – Mchrono
B.Holmes, author of The Range of Illusion and The Private Key installments, is currently located in Thailand, researching and writing about crypto. You can follow B.Holmes on twitter @BanteringB, or contact via email: [email protected]