MonaCoin is a decentralised, open-source cryptocurrency that emerged from Japan in December 2013. It was developed by an anonymous individual under the pseudonym Mr. Watanabe, and it quickly gained traction in its home country. MonaCoin is a fork of Litecoin, featuring the Lyra2RE(v2) Proof-of-Work algorithm which enhances its security against ASIC mining. The coin distinguishes itself with a 1.5-minute block time and an abundant supply, making it well-suited for microtransactions. Originally inspired by a popular internet meme of a cat-like character, MonaCoin has cultivated a strong community spirit, often seen as a cultural symbol within Japan. As Japan’s first native cryptocurrency, it has benefitted from local media coverage and acceptance at various merchant outlets, bolstering its recognition and use.