What is Motocoin (MOTO) Crypto Beginner’s Guide
Most cryptocurrencies employ a method called Proof-of-Work or Proof-of-Stake to allow people to mine more currency and expand their coin assets. Motocoin has taken a different approach by introducing the concept of proactive mining with a model called Proof-of-Play, which allows users to play a game to mine coins. Created in 2014, it was the first Proof-of-Play currency introduced into the market.
Motocoin (MOTO) Proof-of-Play
Although Motocoin is not the only Proof-of-Play currency on the market, it does hold the esteemed place of being the first to employ this method. Proof-of-Play is straightforward; the platform is a video game, and users must successfully complete levels in a predetermined amount of time to mine coins.
Motocoin’s specific gaming experience is controlled by a person on a bicycle down an incredible challenge maze of floating, differently shaped rocks. It is a two-dimensional game and the bike is controlled by the use of the arrow keys and the space bar. Players must successfully jump the bike from rock to rock without falling or flipping to make it through the level, and the objective is to catch one of the coins or helmets at the end of the game. The game varies in speed and is adjusted every 2000 blocks.
Mining and Trading
There is a required client the players must download to run the game and collect their coins. The game can be run on Windows 7 and up, however, players are required to have appropriate CPU and GPU support, as their performance is integral to the behind the scenes mining process that occurs although the in-game graphics are quite simple.
Due to the nature of the game, mining pools are not possible. The currency, however, can be purchased on markets and currently offers a MOTO/BTC pair.
Although launched in 2014, Motocoin suffered in its performance due to a history of being overtaken by bots. This obviously affects the game play as well as unfairly influences the mining process for those who are playing the game in good faith. The Motocoin team searched for a new developer who could help redesign the protocol to enforce fair play for miners. At the moment, the program is currently testing these positive changes.
The Motocoin currency, MOTO, is mined via successful participation within the game. The currency creates one block every minute and 20 coins per block. The available coins will be halved every one million blocks, with the goal is 40 million coins generated in 12 years. 450,000 coins were pre-mined through beta testing of the game.
Motocoin’s innovative idea of proactive mining brought something completely different to the cryptocurrency market, and it is not without competition in recent years. However, Proof-of-Play is a great way to actively involve gamers in the mining process and creates a highly competitive but fairly balanced environment. If Motocoin can overcome the issues it has with bots, it may be able to regain its momentum on the market and offer a fun alternative to PoW and PoS.