MazaCoin

Last updated
MazaCoin
MazaCoin.png
MazaCoin logo
Denominations
CodeMZC
Precision10−8
Development
Original author(s)Payu Harris, AnonymousPirate
White paper mazacoin.org/docs/MAZA-whitepaper-2014.pdf
Initial release7 February 2014;9 years ago (2014-02-07)
Code repository github.com/MazaCoin/maza
Project fork of Zetacoin, Bitcoin
Written in C++
Operating system Windows, OS X, Linux
Source model Open source
License MIT License
Ledger
Timestamping scheme Proof-of-work
Block reward250 MAZA (as of September, 3 2021), (halved every 950,000 blocks)
Block time1 minute
Block explorer mazacha.in
Website
Website Official website OOjs UI icon edit-ltr-progressive.svg

MazaCoin (Maza, MZC) is a cryptocurrency launched in 2014. [1]

Contents

History

MazaCoin was developed by Payu Harris in 2014. [2] MazaCoin was specifically designed for the Oglala Lakota tribe in South Dakota. [3] Some Native Americans adopted the use of MazaCoin to battle the US Government. [4] [5] [6]

In October 2017, a Mashable article on the Oglala Lakota included a video about Harris's efforts to get MazaCoin accepted. [7]

Recognition and use

The currency was adopted by the Lakota Nation in 2014, with half of its supply reserved by the tribe to minimize the price volatility common in cryptocurrencies. [8]

In 2017, The Lakota leadership formally recognized MazaCoin as their national currency, yet this decision encountered skepticism within the community. [8] The concept of digital currencies, heavily reliant on technology such as apps and smartphones, was less accessible to older generations and those without consistent internet access. [8] To counteract this, a system of paper wallets was developed, allowing MazaCoin to be stored and used in a more traditional, physical format. [8] This system allowed tribal members to use MazaCoin in physical form for transactions within the community, converting it back to digital format at the centralized facility. [8]

Related Research Articles

<span class="mw-page-title-main">Lakota people</span> Indigenous people of the Great Plains

The Lakota are a Native American people. Also known as the Teton Sioux, they are one of the three prominent subcultures of the Sioux people, with the Eastern Dakota (Santee) and Western Dakota (Wičhíyena). Their current lands are in North and South Dakota. They speak Lakȟótiyapi—the Lakota language, the westernmost of three closely related languages that belong to the Siouan language family.

<span class="mw-page-title-main">Sioux</span> Native American and First Nations ethnic groups

The Sioux or Oceti Sakowin are groups of Native American tribes and First Nations peoples from the Great Plains of North America. The Sioux have two major linguistic divisions: the Dakota and Lakota peoples. Collectively, they are the Očhéthi Šakówiŋ, or "Seven Council Fires". The term "Sioux", an exonym from a French transcription ("Nadouessioux") of the Ojibwe term "Nadowessi", can refer to any ethnic group within the Great Sioux Nation or to any of the nation's many language dialects.

<span class="mw-page-title-main">Red Cloud</span> Leader of the Oglala Lakota (1822–1909)

Red Cloud was a leader of the Oglala Lakota from 1865 to 1909. He was one of the most capable Native American opponents whom the United States Army faced in the western territories. He defeated the United States during Red Cloud's War, which was a fight over control of the Powder River Country in northeastern Wyoming and southern Montana. The largest action of the war was the 1866 Fetterman Fight, with 81 US soldiers killed; it was the worst military defeat suffered by the US Army on the Great Plains until the Battle of the Little Bighorn 10 years later.

<span class="mw-page-title-main">Pine Ridge Indian Reservation</span> Indian reservation in United States, Oglala Sioux

The Pine Ridge Indian Reservation, also called Pine Ridge Agency, is an Oglala Lakota Indian reservation located almost entirely within the U.S. state of South Dakota, with a small portion in Nebraska. Originally included within the territory of the Great Sioux Reservation, Pine Ridge was created by the Act of March 2, 1889, 25 Stat. 888. in the southwest corner of South Dakota on the Nebraska border. Today it consists of 3,468.85 sq mi (8,984 km2) of land area and is one of the largest reservations in the United States.

<span class="mw-page-title-main">Digital currency</span> Currency stored on electronic systems

Digital currency is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic computer database owned by a company or bank, within digital files or even on a stored-value card.

ICT is a daily digital news platform that covers the Indigenous world, including American Indians, Alaska Natives and First Nations.

<span class="mw-page-title-main">Oglala</span> Traditional tribal grouping within the Lakota people

The Oglala are one of the seven subtribes of the Lakota people who, along with the Dakota, make up the Očhéthi Šakówiŋ. A majority of the Oglala live on the Pine Ridge Indian Reservation in South Dakota, the eighth-largest Native American reservation in the United States.

<span class="mw-page-title-main">Eddie Little Sky</span> American film and television actor (1926–1997)

Eddie Little Sky, also known as Edward Little, was an indigenous North American actor of the Oglala Lakota tribe. He had parts in 36 feature films and over 60 television shows, mainly westerns in the role of a Native American. He was one of the first Native American actors to play Native American roles such as his performance in the 1970 film A Man Called Horse.

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<span class="mw-page-title-main">History of bitcoin</span>

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<span class="mw-page-title-main">John Yellow Bird Steele</span> Past president of the Oglala Sioux tribe

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References

  1. Vigna, Paul (March 7, 2014). "Lakota Indian Promotes New Digital Currency, Mazacoin" via www.wsj.com.
  2. "He created an indigenous digital currency. The dream is still alive". MIT Technology Review. Retrieved 2023-11-26.
  3. Browning, Lynnley (2014-08-14). "Tribal Bitcoin". Newsweek. Retrieved 2023-12-24.
  4. Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". theverge.com. Archived from the original on March 5, 2014. Retrieved September 4, 2017.
  5. Consuji, Bianca; Engel, Evan (18 September 2014). "No Country for Cryptocurrency This man thinks "Bitcoin for Native Americans" can solve tribal poverty. So why won't anyone give him a chance?". Mashable. Retrieved 13 April 2016.
  6. Landry, Alysa. "9 Questions Surrounding MazaCoin, the Lakota CryptoCurrency: Answered". Indian Country Today. Indian Country Today. Archived from the original on 9 October 2016. Retrieved 13 April 2016.
  7. Petronzio, Matt (9 October 2017). "Why Square commissioned this stunning short film about Native American youth". Mashable. Archived from the original on 2017-10-09. Retrieved 2019-01-06.
  8. 1 2 3 4 5 Jeffries, Adrianne (March 5, 2014). "Native American tribes adopt Bitcoin-like currency, prepare to battle US government". The Verge.

Further reading