What is Theresa May Coin (MAY) Crypto Beginner’s Guide
Proof-of-Stake coins can be a lucrative opportunity for their investors when properly utilized, and hybrid coins are very common. However, with the influx of altcoins on the cryptocurrency market, it is also imperative that those who wish to invest and trade in these coins make sure that they are legitimate, as there are many scam coins on the market now that will result in profit loss. The Theresa May Coin is a relatively new coin the has some potential.
History of the Theresa May Coin (MAY)
The MAY coin is named after Theresa May, the prime minister of the United Kingdom since 2016. The major part of her platform was to establish the United Kingdom’s independence by seceding from the European Union, and this coin was released in 2017 to honor her.
Theresa May is somewhat of a controversial leader, as Brexit was a very controversial decision. Thus, like any coin created in the honor of a specific political figure, the coin may be associated with that figure’s political stance and ideologies.
Proof-of-Stake – Theresa May Coin
The Theresa May Coin, MAY, is a Proof-of-Stake coin that may show some great earning potential. One of the common issues with PoS currencies that are based on percentages is that their value can be threatened. Coins that are generated quickly will flood the market and their value will drop due to lack of demand, resulting in a worthless coin.
Theresa May Coin avoids this problem with fixed Proof-of-Stake rewards. Regardless of the number of coins in circulation, the same amount of coins will be generated every day. Rewards are based on block numbers and multiply at specified block milestones.
Theresa May Coin, MAY, is a hybrid Proof-of-Work/Proof-of-Stake coin. It utilizes the SHA256 algorithm. The PoW aspect of the currency will end at block 216.901. Proof-of-Stake will continue to offer a 1% profit distribution. The total amount of MAY that will be released is 100,000,000. 15,000,000 were premined, and all premined currency may have been put towards developers.
It is available on a small number of exchanges and can be exchanged for Bitcoin or YoBit. As of right now, there is only one wallet for Windows, but the developer plans on creating more for online use, smartphones, and Mac, with priority being Android and iOS.
Anyone with the know-how can create a coin, and there are thousands of altcoins available on the market. Some of them offer advanced features, redesigned blockchains, or creative platforms, but some of them are simply trying to serve the purpose of a decentralized currency. Theresa May Coin seems to be the latter.
Unfortunately, there is no information about the developers available, nor does the website offer a white paper or a roadmap that may shed more light on this currency. The developer seems to stay involved with updates to forums and wallets, but the absence of that information may be a turn off to investors. Some are claiming, however, to have been very pleased by the profits from this currency.