MorningStar Payment Systems (MRNG) aims to end the current banking institutions that have a government-granted monopoly on the creation of money and credit.
In the current monetary system only Federal Reserve Bank (FED) has right to issue paper promises. Those papers are called money and have not any intrinsic value. They function as money because the government foreces them on the public through legal tender laws.
Simply, Fed is a group of banks running a national counterfeiting operation with the protecting of the government. Issuing papers which have no intrinsic value and selling them to public. With Morningstar’s “finite”, decentralized, secure ledger system, a positive monetary change is possible. The power of money creation is given back to the people where it should have been all along.
Morningstar Payment Systems
- Pure PoS after initial PoW coins are mined
- 30 seconds block target
- Difficulty retargets every block
- PoS variable interests: – 1st year: 20% – 2nd year: 15% – 3rd year: 10% – 4th and subsequent years: 5%
- 4 confirmations for transaction, thus fast 2 mins confirmation for transactions
- 30 confirmations for minted blocks
- Ports: 29186 (connection) and 29086 (RPC)
- 100 million total coins
Advantages of MRNG over other crypto-currencies
Bitcoin and many other altcoins use Proof of Work which relies on a great deal of energy use. This makes them less feasible. Also requirement of huge processing power makes them more and more centralized. Ordinary people does not have that much infrastructure to mine PoW coins. They are not for everyone, they are for elites. On the chart below you can see how wasteful use of energy consumed by bitcoin network.
Proof of Stake currencies (like MRNG) are several thousand times more cost effective. Any ordinary people can can mint new coins simply by holding coins in their wallet on an ordinary computer.
| Data | Value |
|---|---|
| Bitcoin’s current estimated annual electricity consumption* (TWh) | 16.3 |
| Country closest to Bitcoin in terms of electricity consumption | Lebanon |
| Electricity consumed per transaction (KWh) | 172.00 |
| Number of U.S. households that could be powered by Bitcoin | 1,509,607 |
| Bitcoin’s electricity consumption as a percentage of the world’s electricity consumption | 0.08% |
If you regard yourself among one of the the silent majority that suffer from current monetary system and are against it, make a step. Revolution does not come unless people unite and do something for it.
Very nice article, I'd like to make one and share my experience this promising coin once it includes on Novaexchange.
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