What is Monad Coin (MON)?

Monad coin (MON) is the cryptocurrency of the Monad project. Monad is a Layer-1 blockchain aiming to offer faster transactions while maintaining EVM (Ethereum virtual machine) compatibility.

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

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

Features Offered by Monad

Monad adopts various features in its operating principle to increase transaction speed:

• Asynchronous execution: Separates consensus and transaction execution. Validators first vote and agree on the transaction order, then the transactions are executed.
• Parallel execution: Used to process multiple transactions simultaneously. However, to maintain EVM compatibility, transactions remain ordered.
• MonadBFT: Monad’s consensus mechanism, a type of Byzantine Fault Tolerance system.
• MonadDb: High-performance background storage.

Monad Founders

Monad was founded 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 existing Ethereum wallets. The only change required is to connect to the Monad network by updating the RPC URL and chain ID. The wide range of available RPC URLs in Monad allows easy application connectivity. Developers can use Monad with Ethereum developer tools thanks to EVM compatibility.

As Monad is a Proof-of-Stake (PoS) network, Monad coin can be staked. Users who do not wish to stake directly can delegate a validator to stake on their behalf. When selecting a validator, it is important for users to pay attention to commission rates, which determine what percentage of the block reward the validator will take.

Monad Coin Features

Monad coin (MON) is the utility (service) cryptocurrency of the Monad blockchain. The symbol for the cryptocurrency is MON on both the mainnet and testnet. Additionally, a unit called MON-gwei is used for minimum 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 accessed via Ethereum-compatible wallets.

( Token Distribution

• Ecosystem and incentives: 30 percent )may increase depending on circumstances###
• Foundation: 25 percent
• Community and airdrops: 15 percent
• Investors: 15-20 percent
• Team and advisors: 10-12 percent

MON Purchase Process

To buy MON, you must first create an account on a cryptocurrency exchange. After that, you need to complete the account’s identity verification process. You must have a balance in your wallet to complete the purchase. If you don’t have a balance, you can use payment methods such as bank transfer or credit card. Once you’ve deposited your funds, you can purchase the desired amount of assets.

You can use various cryptocurrency trading platforms to buy MON. When choosing a platform, it is helpful to check if the TRY trading pair is available.

How to Buy Monad Coin?

To buy Monad coin from a cryptocurrency exchange, you can follow these general steps:

• On the exchange’s main page, click on “Buy/Sell” or “Markets.” After this, you can search for MON or Monad in the search bar to proceed with the purchase.
• On the Buy/Sell page, click the “Buy” button to start your transaction. If you do not have an existing account, you must create one; if you do, you must log in.
• Enter the amount you wish to buy and continue the process. After deciding how much you want to purchase, you can confirm the transaction. The exchange will automatically check your account balance. If your balance is sufficient, the transaction will be completed. If not, you can load the desired amount using the deposit option.
• In the final step, click the “Buy” button once more to confirm the transaction. Your cryptocurrency purchase will be completed instantly, and your purchased coins will be credited to your account shortly.