Miami launches its own cryptocurrency MiamiCoin: what you can buy for it

This summer, the city of Miami, Florida will introduce a local cryptocurrency to raise additional funding for local projects. According to numerous reports, Miami's own cryptocurrency payment form, MiamiCoin, should debut this month. Writes about it Local10.

Photo: Shutterstock

According to the official CityCoin website for MiamiCoin, “MiamiCoin is the first CityCoin to come to market. It's built to support Magic City, running on the Stacks protocol (which is what Bitcoin runs on)." CityCoin will be the service that launches MiamiCoin.

Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments - and Miami Mayor Francis Suarez has been a proponent of promoting the cryptocurrency and Bitcoin.

News of the first form of cryptocurrency in Miami came after Suarez's recent statement in favor of the form of electronic payments.

On the subject: Prehistoric worm-like animal discovered in Miami: it first appeared in the USA

This came just months after Miami hosted the largest cryptocurrency conference to date, Bitcoin 2021, with keynote speakers from some of the venerable tech experts, including Twitter and Square co-founder and CEO Jack Dorsey.

Suarez noted that "the city of Miami could end up making millions of dollars as a result of the popularity of MiamiCoin, because Miami has now become the world's cryptocurrency capital."

The city's mayor was so enthusiastic about the South Florida tech hub that, according to his Instagram, he even held his own cryptocurrency conference in June this year.

You may be interested in: top New York news, stories of our immigrants and helpful tips about life in the Big Apple - read it all on ForumDaily New York

According to the MiamiCoin website, the cryptocurrency will run on Stacks, a protocol that allows smart contracts to be used on the Bitcoin network.

The website states that anyone can participate in MiamiCoin mining by sending their STX tokens through the protocol. 30% of redirected STX miners will be directed to a wallet reserved for Miami, and the remaining 70% can be combined to receive STX and BTC.

MiamiCoin is a new way for developers to build apps and experiment with innovative use cases.

Developers can create apps that use MiamiCoin to control access (to digital or physical spaces), trade, lending, and more.

For more information on MiamiCoin go to link.

Read also on ForumDaily:

Seven nuances that need to be urgently removed from your resume if you want to get a job in the USA

Asset or money: what is cryptocurrency and how safe is it

107 free online courses from top US universities

Elon Musk admitted that he has Asperger's syndrome: what it is and how it manifests itself

How to make money from the comfort of your home: 50 simple and proven ideas

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.