Megacoin is a new type of decentralized currency. Not minted or endorsed by any nation, but by users across the globe. Anywhere there is internet, you can send or receive Megacoins. Even in outer space. There are very little rules for Megacoin.
Megacoin was designed to handle rapid growth and a stable future. Only 42 Million coins will ever exist. During the freely joinable Initial Adoption Phase (IAP) which lasted half a year, 21 Million MEC came into existence. Here the block rewards were in groups of 21,000 blocks stepping down from 500, 250, 125, 75, and 50. Rapid growth during the IAP was fueled by a balanced amount of increased rewards for miners who secure the network.
Starting 2014, up until now and to several decades in the future, the remaining 21 Million MEC will be distributed at a similar step-down rate. Every 420,000 blocks (2 years), The reward starts at 25 and is halved each period. 10.5 million Megacoins come from first 2 Years of 420,000 blocks. While the Megacoin release rate decreases as time moves forward, the market value of Megacoins will adjust accordingly.
HOW IT WORKS.
With MEC you will get the best Payment system in the Universe. No need for Wiring or Carrying Cash across borders. You can send Megacoin to your relatives or business partners to the other side of the world. No hoops to jump through, no questioning. Just hit send.
Unlike Banks which can require a Credit Check or Social Security Number, Megacoin doesn’t ask for anything except a smile. A MEC account is completely free & with low transaction fees. Transactions are complete within seconds, worldwide!
MEC has a class of decentralized workers called miners to keep the Payment system secure. Specialized Cloud Computers run encryption software to distribute Megacoin and verify all transactions on the payment network. Megacoin is absolutely secure against forgery. Everyone can become a miner, it´s very easy to rent hardware and join a mining pool.