What is MAZA Coin? Crypto Beginner’s Guide
Maza is a cryptocurrency network for sovereign tribes. Users can create smart contracts and smart apps on this platform. MAZA tokens are traded on several exchanges including Cryptopia and FreiExchange. MAZA tokens are paired with BTC tokens. MAZA tokens have a market capitalization of $606,500. Daily trading volume exceeds $2,700. The circulating supply is 1,055,345,280 MAZA. The total supply is 1,371,778,720 MAZA.
MAZA tokens are created from a Proof-of-Work mechanism. It was forked from the Zetacoin blockchain. Zetacoin is a fork of Bitcoin. Zetacoin is known for its inflationary measures, including mining reward. The goal of the MAZA creators is to have a global currency while staying relevant to a local economy. MAZA tokens can be mined with ASIC hardware. MAZA tokens can be mined on other blockchains. The advantage of compatibility is that the same hardware can be used on each blockchain, and the energy expenditure is the same regardless of which blockchain is mined.
50 million MAZA tokens were created. No more tokens will ever be created. The MAZA token is dedicated to the Lakota people by AnonymousPirate on January 30, 2014. It became the national currency of the Lakota Nation, which is based in South Dakota. The word Maza is derived from the Lakota Sioux words Maza and Ska, which means iron and white. The source code is available at Github.
There is a block explorer that lets users view transactions. It is designed well. The text color contrasts with the background. The information is organized. The block height, hash address, date/time of transaction, the amount of MAZA tokens generated, the coin supply, BTC price, and difficulty rating are all included in the block explorer. There is a search bar that lets users search for transactions by block height or hash address.
SHA-256 Algorithm and Proof-of-Work Consensus
Maza is based on the SHA-256 algorithm. It is the 256-bit version of the Secure Hash Algorithm 2 set of cryptographic hash functions. This encrypts the digital currency. It was designed by the National Security Agency. It was built with the Merkle-Damgard structure.
Proof-of-work is a consensus mechanism. It is required by the network to ensure that the requester is a legitimate connection. This filters out spam and other malicious attacks. Usually, some type of task has to be performed to verify that the requester is legitimate. One acceptable proof-of-work is computer processing.
More Info On Maza Coin
Block reward halving occurred at block 1,050,000. There’s an iPhone app in development. MAZA token is ranked 926 by market capitalization. The Maza project was based on the BTC Oyate Project, which was started by Payu Harris. Harris started Maza in response to the seizure of Black Hills. One of the tools at Harris’ disposal was artwork. Harris spent hours working on graphics for Maza. The goal was to connect the coin to the people. With art, it would gain attention, and the people would adopt it as a currency. The coin would also be recognized by the world.