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What is MazaCoin (MZC)?
Future of MZC Cryptocurrency and know how to buy MZC

What is MZC?

#1 – What is MazaCoin?

MazaCoin: The Basics

  1. MazaCoin is a cryptocurrency derived from Zetacoin, which is based on the Bitcoin protocol.
  2. It was launched in 2014 with the goal of becoming the first official Native American cryptocurrency. The idea was to eventually become the official cryptocurrency of the Traditional Lakota Nation, specifically the Oglala Lakota Nation, which is the founder Payu Harris’s own tribe.

MazaCoin Development

  1. MazaCoin was developed by Payu Harris in February 2014. Payu Harris is a part of the Oglala Lakota National Tribe, who works at Kimitsu Asset Management.
  2. Harris launched MazaCoin under the Bitcoin Oyate Project with the intention to give Native American tribes some financial support as well as autonomy, and to help alleviate poverty in the Lakota Nation.
  3. With the launch of MazaCoin, the Oglala Lakota Tribe became the first Native American tribe to adopt a digital currency officially.

 

#2 – What are the advantages of MazaCoin?

MazaCoin Technology

  1. MazaCoin uses the SHA-256 Proof-of-Work consensus algorithm, which was originally designed to imitate the value and rarity of precious metals.
  2. It has been designed to have a safe and easy-to-mine blockchain, using the SHA-256 mining protocol. The protocol helps reduce clogging of landfills and encourages recycling of ASIC mining hardware.
  3. MazaCoin uses peer-to-peer technology and is completely decentralized. It has a block time of 120 seconds with quick difficulty readjustment built in, and a block reward of 5000 MZC.
  4. The features of MazaCoin include a slow deflationary curve and stable retention of value. The cryptocurrency has a limited two-stage pre-mine to build up the reserve of the coins and work as a measure to prevent the hoarding of coins.
  5. The first pre-mine would create 25 million coins as a reserve for the Lakota Nation, to be used in the future for price stabilization. The second pre-mine would create another 25 million MZC coins which will be given to an entity called the MazaCoin Tribal Trust.

 

#3 – How to buy and store MazaCoin tokens (MZC)?

How to buy MZC

MazaCoin (MZC) coins are available for exchange on only two platforms – Cryptopia and Freiexchange, both of which accept Bitcoin. Cryptopia also accepts DOGE and LTC in addition to Bitcoin, as payment for MZC coins.

No exchange exists as of August 2018, which accepts any fiat currencies in payment for MazaCoin, which is unfortunate, especially considering that the cryptocurrency is over 4 years old.

  1. These are just platforms where you can buy or sell MZC tokens, but help is often needed to decide which one to buy from. This help is what CoinSwitch, one of the best cryptocurrency exchanges provides, by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your MZC token, and CoinSwitch will help you decide the best one for you!
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets, the benefits of which we’ve spoken about here earlier.

MZC Storage

  1. For any cryptocurrency, it’s always best and safest to use its own native wallet if available, rather than relying on a third-party application.
  2. MazaCoin has a desktop wallet, which is compatible with Windows, Linux as well as Mac Operating Systems.
  3. There is no native mobile wallet which stores MazaCoin yet, but it’s in the works and will be released soon.

 

#4 – What is the future of MazaCoin?

Also Read: Complete Analysis of MazaCoin | Live MazaCoin (MZC) Price Charts And Predictions

Market Cap and Global Acceptance

  1. MazaCoin belongs to an era in which cryptocurrencies were mineable and used the proof-of-work consensus system. It’s simpler and less expensive to mine than Bitcoin and has no cap on its supply, but mining these coins requires more power than the newer proof-of-stake coins.
  2. MazaCoin has no maximum supply, but there are some coins which have been reserved for certain purposes, which are as follows:
    1. 20 million coins are kept as a reserve for the Oglala Lakota tribe
    2. 20 million coins have been reserved for the development of the MazaCoin
    3. 1.6 million coins are the founder Payu’s personal holdings, and
    4. The remaining coins are held by investors of MazaCoin.
  3. As of August 2018, the circulating supply of MazaCoin is about 1.055 billion MZC coins. It has a market cap of about $411.2 thousand and a value of about $0.00039 per coin

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Aug 06, 2018

0.000423

0.000496

0.000412

0.000416

82

4,46,505

Aug 01, 2018

0.000542

0.000542

0.000447

0.000456

1,318

5,72,284

Jul 01, 2018

0.000511

0.000702

0.000507

0.000635

3,499

5,39,268

Jun 01, 2018

0.000824

0.00091

0.00074

0.000827

894

8,69,689

May 01, 2018

0.001201

0.001249

0.001153

0.001183

3,250

12,67,794

Apr 01, 2018

0.001178

0.001195

0.001037

0.001087

1,541

12,43,264

Mar 01, 2018

0.00444

0.005486

0.004084

0.004919

10,304

46,85,460

Feb 01, 2018

0.002237

0.002346

0.001804

0.001911

10,771

23,61,327

Jan 01, 2018

0.001393

0.001643

0.001174

0.001378

3,586

18,80,613

Dec 01, 2017

0.0005

0.000652

0.000473

0.000547

533

6,74,419

Nov 01, 2017

0.000243

0.000336

0.000241

0.000335

824

3,24,028

Oct 01, 2017

0.000305

0.000347

0.000298

0.000307

173

4,00,453

Sep 01, 2017

0.000331

0.000381

0.000328

0.000345

425

3,62,064

Apr 01, 2017

0.000193

0.000218

0.000181

0.000194

1,008

2,10,702

Nov 01, 2016

0.000161

0.00019

0.000161

0.000168

165

1,73,810

Jun 01, 2016

0.000085

0.000106

0.000085

0.000086

564

82,761

Jan 01, 2016

0.000097

0.000098

0.000082

0.000084

147

84,007

Jul 01, 2015

0.000165

0.000177

0.00016

0.000161

526

1,22,508

Jan 01, 2015

0.000119

0.00013

0.000117

0.000126

158

73,717

Jul 01, 2014

0.000128

0.000143

0.000122

0.000128

422

62,583

Feb 27, 2014

0.002195

0.007307

0.001014

0.001949

3,649

1,56,258

Trends so far

  1. Old as it is, MazaCoin has seen quite a bit of volatility in the four years since its inception, although never going above a high of $ 0.12 USD. It started off with a price of about $ 0.0019 per coin in late February 2014, which later increased to a maximum of about $ 0.09 within a week. Its minimum value was $ 0.000038 in November 2015, and its current price is about $ 0.00039 as of August 2018.
  2. MazaCoin’s standing in global market cap rankings is extremely low, barely keeping it within 1000. This can be attributed to the very low individual price of the coin, which overpowers its high circulating supply, putting it at a rank of 942 as of August 2018.
  3. The low rank of MazaCoin in global market cap rankings is very discouraging, especially considering that the cryptocurrency has been around for more than 4 years! The future trends of this coin are difficult to predict, because the team seems to be inactive as of August 2018.

 

#5 – What makes MazaCoin different from other cryptocurrencies?

  1. MazaCoin is the first cryptocurrency to have been adopted by Native Americans, and the first one to become an official currency among a tribe.
  2. The cause behind the cryptocurrency, of making Native American tribes financially autonomous as well as to alleviate poverty in those tribes, is a noble one, setting MazaCoin apart from other cryptocurrencies.

 

#6 – Should you invest in MZC?

  1. MazaCoin has an extremely discouraging rank among cryptocurrencies globally in terms of market cap, making it an unattractive coin to invest in.
  2. The website, blog and Bitcointalk page of MazaCoin have all gone without an update for more than six months as of August 2018, which is a red flag for the cryptocurrency.
  3. However, the cause behind the cryptocurrency is noble, since it strives to make Native American Tribes financially secure and independent, and to bring the tribes out of poverty.
  4. The individual price of the MazaCoin is very low, which is another red flag, or an advantage, depending on how you look at it. Of course, it is advisable to look at market capitalisation values more than individual token pricing when analysing cryptocurrencies, since the number of coins in circulation can vary wildly depending on the cryptocurrency you’re looking at.
  5. An active community may bring the coin back to life, and investing in it may fetch long-term returns. While it remains a proof-of-work based coin though, it may be vulnerable to losing out to more modern, proof-of-stake based coins. It is, of course, always better to do your own research before investing in such a cryptocurrency.

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