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MonetaVerde was launched in 2014. This is a cryptocurrency that aims to overcome deflation, one of the most crucial problems of digital money today. This prevents crypto coins from being widely-accepted payment method. The reason of deflation is that most blockchain-based currencies has to decrease the reward for solved tasks in time. For coins that offer a block reward that is based on the mining difficulty the problem becomes even worse. This makes the mining difficulty inverse to the block reward (the difficulty increases while the reward decreases).
To solve this issue, MonetaVerde increases the block reward along with mining complexity.
In the MonetaVerde network the block reward formula is fixed: log2(complexity). According to this principle, reward grows slower than complexity and 1 coin added to a block increases difficulty twice. The time needed to solve a block is 1 minute.
Also, MonetaVerde uses CryptoNote, one of the strongest cryptographic algorithms, to make users’ transactions as anonymous and safe as possible. This algorithm is the most effective on today’s market. Also, CryptoNote allows merged mining with other coins that use the same algorithm. Among them you will find Bytecoin, Monero, Quazar, etc. It means that you can mine a number of different coins at the same time.