What is Mao Zedong (MAO) Crypto Beginner’s Guide
Available cryptocurrencies across the market must find a way to stand out if they want to make their mark, and they often incorporate certain ideas and industries into their functionality. Whether it be file sharing, social networks, or entertainment distribution, most cryptocurrencies are determined to make themselves relevant and usable. MAO is a unique cryptocurrency that was put into the market in order help spread the ideologies of the Chinese revolutionary, Mao Zedong.
Mao Zedong Ideology
Founded on one of the most unique concepts for a cryptocurrency, MAO was inspired by Mao Zedong, a Chinese revolutionary. While it might seem like a strange thesis for a cryptocurrency, it is certainly a way to spread information about a historical figure in regards to his beliefs and his historical relevance.
Mao Zedong, also known as Chairman Mao, was a communist revolutionary who ruled the People’s Republic of China from its inception in 1949 to his death in 1976. His political ideology, which came to be known as Maoism, was impressed on China from the 1950s to the 1970s, and its party is often attributed to be the guiding party in China’s adoption of communism. Many of its followers consider it to be an anti-Revisionist form of Marxism-Leninism. The theory largely relies on the idea of permanent revolution as perpetrated by the masses.
While Mao may have guided China from a feudal state to a world power, many are still highly critical of his ideologies as the programs promoted by them caused millions of deaths. Because of this, it is important to truly understand the context behind this cryptocurrency and consider if trading it may go against the ethical codes of some investors.
The cryptocurrency, MAO, is minted with the X11 algorithm. 14,000 blocks were pre-minted through Proof-of-Work, and now the currency functions under Proof-of-Stake as well as PoW. The difficulty is adjusted after each block creation, and miners get 888 MAO for every 15 blocks. MAO also requires a minimum staking time of 12 hours and maximum of 12 days.
One of the main goals of the cryptocurrency is to undermine the use of other cryptocurrencies that also tote ideological beliefs. For example, the developers point to the Putin coin which they debase as an artificial ideology as compared with Mao’s.
Although somewhat of a bizarre idea from a distance, the existence of the Mao Zedong Coin and others like it are a testament to the importance of ideology and how it can be applied to cryptocurrency. The cryptocurrency movement itself is a political one, as it encourages trade between individuals, the cast-off of distributors who charge high fees, and the critical reaction to government demands rooted in censorship and threats to privacy. It is only natural, then, that developers would begin to shape and distribute their own beliefs into the community; therefore, it is also important for traders and investors to research the crypto they use and make sure it is representative of their own beliefs.