MapleCoin touted as national cryptocurrency of Canada

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      No doubt, you've heard a lot about Bitcoin and its presumably pseudonymous creator Satoshi Nakamoto, especially after that controversial Newsweek cover story.

      Now, something called MapleCoin has come along, and its creator goes by the moniker AnonymousPirate. MapleCoin is being billed by its makers as the national cryptocurrency of Canada, but it's not clear what's so Canadian about MapleCoin beyond its branding.

      Sure, there's photos of Moraine Lake and False Creek on MapleCoin's website. However, it's not being distributed to all Canadians in the interesting way that Auroracoin is in Iceland.

      MapleCoin is yet another fork of Litecoin, which is the most valuable (by market cap) of the Bitcoin-based altcoins out there. In a typo-riddled white paper—it's got nothing on the polished prose of Nakamoto's Bitcoin paper—AnonymousPirate says that MapleCoin has anti-deflation measures built in. The paper states:

      For MapleCoin I essentially took the anti-deflationary template elucidated in the LydiaCoin Project, with a large coinbase and high mining rewards, coupled with the blockchain innovations I perfected in the MazaCoin Project for enhanced transaction speeds and minability – and layered those onto a fork of LiteCoin. Since the target economy is large and robust, there is no need for either a pre-mine or other wealth redistribution as there is with some National Crypto-Currencies. Canada leads the world in Crypto-Currency adoption and penetration and thus seems a perfect candidate for what is known as a “klondike style” public launch and a scrypt based democratically mined blockchain. This will produce the most even distribution of wealth, both within Canada and globally.

      MapleCoin launched on March 22. According to its website, 2.4192 billion coins will be mined in its first five years of existence. Clients are available for Windows and Ubuntu.

      Is MapleCoin interesting or just another altcoin destined to be "pumped and dumped" like a penny stock? Obviously, buyer beware.




      Mar 31, 2014 at 12:50pm

      Pump and dump. Auroracoin is for real on the other hand and its unfortunate that Anonymous Pirate is connected to the also significant Mazacoin project of the Lakota First Nation people. There is some amazing work being done in the cryptocurrency space but in this "Wild West" there are also many opportunists of the worst sort.