What is MACRON (MCRN) – Crypto Beginner’s Guide
MACRON is a cryptocurrency made in honor of Emmanuel Macron – the president of France. It was launched in March 2017. It is a Proof-of-Stake currency. It is traded on one exchange – YoBit. MACRON tokens are paired with BTC tokens. MACRON has a market capitalization of $93,000, which places it at 1,288th on the list of cryptocurrencies. Daily trading volume exceeds $13. The circulating supply is 401.4 million MACRONS. The ticker symbol for MACRON is MCRN.
Trends in MACRON Token Price
The price of 1 MCRN token is 0.000231 USD or 0.00000003 BTC. This token lost significant value last May. It has remained at a low price consistently for the last three months.
In December 2017, the price of MCRN started to climb. By January 2018, the price had reach an all time high. Over the next couple of months, the price would consistently spike. In March 2018, it seemed like the token had returned back to its pre-December 2017 levels.
But, by April 2018, the token should signs of growth by jumping in value during the first 10 days of the month. From the 15th to the 25th, the price remained high. It dropped back to a low price for the remainder of the month. There would be one more spike in prices from the end of April to the 7th of May 2018. Then the price leveled out.
Searches for the MACRON coin on Google remained low. There has been only minor interest in this cryptocurrency.
The Ultimate Mining Algorithm – Proof-of-Stake
Although MACRON isn’t that popular, it is a smart and secure cryptocurrency. Transactions are safe and anonymous because it uses the Proof-of-Stake algorithm. Proof-of-Stake is a method of mining that depends on the amount of tokens held by the user. If a user owns a lot of tokens, they can mine more tokens or validate more transactions. It is usually proportional. For example, if a user owns 2% of the available amount of tokens, then they will be able to mine 2% of the blocks. Peercoin was the first cryptocurrency to use this method.
The Proof-of-Stake method is more secure than other verification methods, such as Proof-of-Work. A user is less likely to attack the network if they have a stake in it. In fact, their holdings would decrease in value if the network was attacked.
Storing MACRON Tokens in Digital Wallets
The block time is 30 seconds. The maximum blocksize is 20 MB. The tokens are stored in digital wallets. Eidoo is one wallet that is compatible with MACRON tokens. It is available on Android smartphones, iPhone, and desktop. It supports all ERC20 and ERC223 tokens. It is stored with a backup passphrase. This digital wallet works without a full node. The user can manage their private keys and encrypt them on the device.
Conclusion for MACRON
The French President is probably flattered that there is a cryptocurrency named after him. Unfortunately, it hasn’t done that great, despite the large number of tokens in circulation.