Question 1

What is the current price of MicroBitcoin (MBC)?

Accepted Answer

MicroBitcoin (MBC) is currently valued at £ 0.00006874, with a market capitalization of £ 3.9M - leading it to be ranked at #3791 in the cryptocurrency market. The price has increased by +0.00% in the last 24 hours, with a trading volume of 16.7.

Question 2

What is MicroBitcoin (MBC)?

Accepted Answer

MicroBitcoin (MBC) is a decentralized peer-to-peer (P2P) payment platform for the micro-economy. It is a means-of-payment coin which was forked from the Bitcoin (BTC) blockchain. The aim of MicroBitcoin is to be used as a fast, flexible, and acceptable method of payment between peers. Beyond just P2P transactions, it also aims to establish a firm footing as an acceptable method of payment between traditional businesses and their customers.

Question 3

Who created MicroBitcoin?

Accepted Answer

MicroBitcoin is a derivative of Bitcoin and thus shares its roots with the pioneering cryptocurrency. While the team responsible for forking Bitcoin into MicroBitcoin isn't as well-known as Bitcoin's mysterious creator, Satoshi Nakamoto, it comprises individuals who believed in creating a cryptocurrency that would be particularly suitable for use in the micro-economy.

Question 4

How does MicroBitcoin work?

Accepted Answer

MicroBitcoin operates on a similar mechanism to Bitcoin. It is a decentralized P2P network where transactions are confirmed by miners, contributing their computational power to solve complex mathematical problems. However, MBC has been customized to provide faster transaction times, aiming to make it suitable for day-to-day small transactions - something that Bitcoin can struggle with due to its larger scale and slower transaction speeds.

Question 5

What Makes MicroBitcoin Unique?

Accepted Answer

What sets MicroBitcoin apart is its focus on being a solution for the micro-economy. It is specially designed for small transactions and faster payments, a niche that its parent cryptocurrency, Bitcoin, isn't always best-suited to handle. MBC's faster block generation time has the added advantage of reducing the chances of double spending attacks.

Question 6

What technology underpins MicroBitcoin?

Accepted Answer

Like Bitcoin, MicroBitcoin uses Proof of Work (PoW) consensus mechanism. It, however, uses the more energy-efficient YescriptR32 hashing algorithm and has an 800-times larger total supply compared to Bitcoin, to cater specifically for micro-transactions.

Question 7

How Many MicroBitcoin (MBC) Are There in Circulation?

Accepted Answer

As of now, the circulating supply of MicroBitcoin (MBC) stands at 56.3B, out of a total supply of 81.5B.

Question 8

How Do You Buy MicroBitcoin?

Accepted Answer

MicroBitcoin (MBC) can be purchased on several cryptocurrency exchanges. Potential buyers should, however, ensure to choose from the list of recognized exchanges mentioned on the MicroBitcoin website. Please remember to do your own research before making any decisions.

Question 9

How Can You Keep Your MicroBitcoin Safe?

Accepted Answer

Always prioritize safety when dealing with cryptocurrencies. Using hardware wallets is a popular way to store cryptocurrencies securely. Also, be sure to back up your wallet and keep the password safe. Never share your private keys with anyone and stay cautious of phishing attempts.

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