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Marscoin Wikipedia article
Marscoin (MARS or MRS) is a decentralized peer-to-peer Cryptocurrency altcoin project released under the open-source MIT license. It is managed by the nonprofit. Marscoin Foundation The project was introduced to the public by Lennart Lopin at the Mars Society conference in 2014. Marscoin was proposed to facilitate a viable independent economic infrastructure for future colonies or missions on the Planet Mars which as a digital currency would be more convenient than carrying around cash for financial transactions domestically on Mars, or when dealing with Earth. The main advantage of this being no weight taken up on space crafts. It would also create a financial system that is not managed by any central authority so the first colonists bring an independent economic infrastructure in form of a blockchain to the red planet.
The simplest application being that of a politically neutral research credit, where those on Mars could be paid in Marscoin by Earth based academic organizations to perform tasks or research, then in return those on Mars could spend those Marscoins to obtain equipment or luxuries to be sent out on the next supply mission to Mars.
Like most cryptocurrencies the creation and transfer of coins is based on a decentralized cryptographic protocol. Marscoin uses a peer-to-peer digital ledger managed by its open source software. Marscoin itself is based on the Scrypt cryptocurrency reference code used for Litecoin but differs in several areas with regard to its supply, blockchain, Genesis Block, network peers and wallet features.
In contrast to Bitcoin, blocks are generated in the Marscoin network every two minutes instead of every ten minutes in average, which results in faster transaction confirmations for clients. Therefore the blockchain of Marscoin also produces more units over the entire course than the Bitcoin network, of which the maximum converges towards 21 million Bitcoin. Marscoin uses the scrypt technology instead of SHA256 in their proof-of-work algorithm for mining. Scrypt was specially developed to make brute-force attacks with specialized hardware such as ASICs more difficult. To do this, it takes advantage of the fact that random-access memory (RAM) is relatively more expensive.
- Lennart Lopin begins developing Marscoin in early 2014.
- Marscoin is listed for trade on several cryptocurrency trade platforms, including but not limited to coins-e, poloniex, cryptopia, novaexchange and a few others.
- 2015 Several organizations add Marscoin mining pools to their platforms, including pooler, BNL bejjan, p2pool, prohashing, scryptpool and our-game.
- 2016 Coins-e ceases operation.
- November 2018 Cryptopia begins negotiation for acquisition by Merchant Bankers. Marscoin is delisted along with several other alt-coins.
- 2019 Novaexchange ceases operation
- May 2020 someone starts performing attacks on Marscoin pools, and the Marscoin blockchain is stalled. Several pools are forced to shut down or remove Marscoin support.
- October 2020 the blockchain is kicked into action again, and some pools resume operation.
- February 2021 several fake Mars copycat coins, and false social media groups are created - and all the real Marscoin pools and websites are placed under sustained Denial of Service attacks. Some pools are knocked offline due to the attacks. Other pools continue to operate at a degraded hash rate regardless.