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Bitcoin
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2.15% -
Ethereum
2,552.69
5.21% -
Tether USDt
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2.57% -
Solana
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9.04% -
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2.60% -
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0.04% -
TRON
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0.3588
3.15% -
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9.13% -
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2.67% -
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4.95% -
Bitcoin Cash
341.35
-1.17% -
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4.38% -
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5.99% -
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0.01% -
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0.71% -
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66.13
1.67% -
Kaspa
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1.53
13.82% -
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0.68% -
Artificial Superintelligence Alliance
1.61
4.95% -
Internet Computer
8.58
5.40% -
Aptos
7.16
10.71% -
Pepe
0.0...08322
6.20% -
Monero
178.24
3.61% -
Bittensor
422.96
11.83% -
POL (ex-MATIC)
0.4065
2.87%
What is MANA coin?
In the Decentraland ecosystem, MANA serves as the native cryptocurrency for facilitating purchases, governance participation, and financial incentives within the virtual reality platform.
Sep 12, 2024 at 07:31 pm
Understanding MANA: The Native Currency of Decentraland
Overview
MANA is the native cryptocurrency of Decentraland, a decentralized virtual reality platform that allows users to create, experience, and monetize content and applications. As the primary currency within the Decentraland ecosystem, MANA serves various functions, fostering the growth and functionality of the platform.
Key Features of MANA
- Medium of Exchange: MANA is used as a payment method for purchasing and selling virtual land parcels, assets, and services within Decentraland.
- Governance: MANA holders have voting rights within the Decentraland Decentralized Autonomous Organization (DAO). They can participate in governance decisions related to platform updates, rules, and policies.
- Staking: Users can stake MANA to earn passive rewards and support the security of the Decentraland network.
- Burn Mechanism: A portion of MANA earned via various activities is burned regularly, reducing the circulating supply and potentially increasing its value.
Benefits of Using MANA
- Ownership and Control: MANA grants users ownership of their land parcels and other digital assets within Decentraland.
- Governance Participation: By holding MANA, users can actively participate in shaping the future of the platform through voting.
- Financial Incentives: Staking and burning mechanisms offer potential financial rewards to MANA holders.
Value and Price Performance
The value of MANA is influenced by factors such as the overall demand for Decentraland's services, the rate of adoption, and external market conditions. It has experienced significant price volatility over time, like other cryptocurrencies.
Conclusion
MANA is an integral part of the Decentraland ecosystem, providing users with the means to engage in various activities and contribute to the platform's growth. Its adoption as a medium of exchange, governance mechanism, and investment opportunity underscores its importance within the burgeoning realm of decentralized virtual reality.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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