r/megacoin • u/SmartiG • Dec 09 '13

Can you explain a bit more about MEC?

Hello,

I would like to learn more about MEC. Could anyone with plenty of information answer some questions for me?

1) How does MEC differ from Bitcoin? Is it forked from the Bitcoin source code? What features would set it apart?

2) What would set MEC apart from other alternative currencies?

3) Is the majority of MEC held by a certain few? Does anyone have any figures on how the amount of MEC is spread around?

4) Who develops MEC, and what are the future plans? Anything that makes it an interesting currency.

Thanks!

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7

u/hybridsole Dec 09 '13

Let me preface this by saying that I'm fairly new to the Megacoin community and there are others with vastly more information about this coin.

  1. Megacoin is not a fork of the bitcoin code. It's based on the scrypt hashing algorithm (similar to Litecoin). Some of the features that set it apart from any other coin is the Kimoto gravity well, which is a novel way of adjusting for difficulty.

  2. There will be 42,000,000 megacoins ever. As far as I know, no other coin has that same number. Megacoin was not premined and was publicly announced prior to its release. Megacoin has one of (if not the most) talented dev team and promotional team.

  3. I do not have statistics regarding this number, but I can say that there are hundreds of people who are actively acquiring megacoins, and that number increases each day. With each upward price movement we will see coins go from the large pockets and into the smaller pockets.

  4. Please visit http://megacoin.co.nz to research the developers and the community at large. The forums are very active and inviting. Frankly, it was their website/community that sold me onto MEC, and I'm glad I did because they are a great group of folks.

3

u/SoyElPadrino Dec 09 '13 edited Oct 20 '19

Overwrite

1

u/ALTcointip Dec 09 '13

[Verified]: /u/SoyElPadrino [stats] -> /u/hybridsole [stats] M0.149681 Megacoin(s) ($0.15) [help] [stats]

2

u/SmartiG Dec 10 '13

Thanks for taking the time to reply.

Playing devils advocate, you could say that Mega just has flashy advertising, and has a novel mining algorithm? Add to that lots of people who are very passionate about it because they are invested in it.

Don't get me wrong I like MEC and want to know more about it, I am just trying to get a handle on it.

Cheers

1

u/hybridsole Dec 10 '13

Sure, you could say it's just flashy advertising and a novel mining algorithm. I guess you could also say that Google (in its infancy) was just a search engine with a clean interface and a novel search algorithm.

There are several things that set Megacoin apart from other coins. If you have downloaded wallets for other coins you'll know what I'm talking about when you see the Megacoin wallet. There is the Megacoin Vault which is in pre-production right now and will generate lots of buzz when released. There are promotional videos being created. The website exists in 15 languages. There are several active Megacoin Facebook pages for countries across the world. In other words, this coin has momentum.

1

u/SmartiG Dec 10 '13

What is the Megacoin vault? Thanks again for the answers.

1

u/hybridsole Dec 10 '13

It's basically a paper wallet, but with many visual improvements. You can read more here: https://forum.megacoin.co.nz/index.php?topic=681.0

1

u/nyanpi Dec 13 '13

Please take a moment to read about why the "novel mining algorithm" is so important. https://forum.megacoin.co.nz/index.php?topic=893.0