Monad coin (MON) nedir?

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What is Monad Coin (MON)?

Monad coin (MON) is the cryptocurrency of the Monad project. Monad is a Layer-1 blockchain that aims to provide faster transactions while maintaining EVM (Ethereum Virtual Machine) compatibility.

It is known that speed is often sacrificed when striving for decentralization. Therefore, Monad’s goal is to create a structure that can preserve both decentralization and speed. This structure is designed to handle 10,000 transactions per second.

Thanks to its EVM-compatible architecture, developers can migrate their projects to Monad without making any code changes. It is also compatible with tools like Phantom and MetaMask. Thus, users can easily benefit from Monad by using these tools.

Features Offered by Monad

Monad adopts various features in its operational principles to increase transaction speed:

• Asynchronous execution: Separates transaction consensus from execution. Validators first agree on the transaction order through voting. Then, the transaction is executed.
• Parallel execution: Used to execute multiple transactions simultaneously. However, to maintain EVM compatibility, transactions still remain sequential.
• MonadBFT: Monad’s consensus mechanism. It is a type of Byzantine Fault Tolerance system.
• MonadDb: A high-performance storage engine running in the background.

Monad Founder

Monad was established in 2022 by Keone Hon, James Hunsaker, and Eunice Giarta.

How to Use Monad?

Monad can be used by both users and developers. Users can interact with Monad using their Ethereum wallets. The only change needed is to connect the RPC URL and chain ID to the Monad network. The various RPC URLs available on Monad enable connection to the network with the application. Developers can also use Monad with Ethereum developer tools thanks to its EVM compatibility.

Since it is a Proof-of-Stake (PoS) network, Monad coin can be staked. Users who do not want to stake directly can delegate their stake to a validator. When choosing a validator, it is important for users to pay attention to the commission rates. These commission rates determine what percentage of the validator’s block reward they will receive.

MON Token Features

Monad coin (MON) is the utility (service) cryptocurrency of the Monad blockchain. It is referred to as MON on both mainnet and testnet. A unit called MON-gwei is also used for minimal gas fees.

MON is used for security, gas fees, staking, and validator rewards. As long as the correct RPC URL and chain ID are used, MON can be utilized via Ethereum-compatible wallets.

Token Distribution

• Ecosystem and incentives: 30% (may vary)
• Foundation: 25%
• Community and airdrops: 15%
• Investors: 15-20%
• Team and advisors: 10-12%

Steps to Obtain MON

To acquire MON, first you need to create an account on a cryptocurrency exchange. Then, you must complete the identity verification process of your account. To finish the purchase, your wallet must have a balance. If you do not have a balance, you can opt for payment methods like bank transfer or credit card. After depositing your funds, you can buy any amount of assets you want.

Warning: This article does not contain investment advice or recommendations. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.