The project was founded by Lennart Lopin, the President of Marscoin. The Marscoin network was launched on January 01, 2014. Hence, the system aspires to facilitate an electronic and resource-saving payment method that is functional on multiple planets. In a nutshell, through the MARS token, the platform aims to find permanent methods for human livelihood settlement on Mars. Measuring and incentivizing choices of early settlers, The Marscoin white paper lists six specific functions that the MARS token will be utilized for on the Mars planet. Marscoin also claims that the early colonists of the Mars planet will continue to produce new MARS tokens as their quick confirmation time and other facilities would make the transaction more convenient and secure. The token is developed using a crypto mining process similar to Bitcoin or Litecoin, as the platform states. MARS is the native utility cryptocurrency available on the Marscoin platform. The project aims to get linked with those who dream of becoming a multi-planetary species. For the development of the project, the Marscoin (MARS) token holders and traders act as contributors to the settlement on Mars. The platform also connects with Mars Society, a non-profit international space advocacy organization, to kickstart the development on Mars. Therefore, Marscoin was developed to offer individuals a coin that can be traded on Mars planet. Thus, with the vision of Mars entering in colonization, the Martian society worried that using Bitcoin on Mars would be an impractical approach. Soon after, Elon Musk developed SpaceX Company with the vision of providing transportation in space. However, the program was halted due to a lack of appropriate funds. NASA adopted the plan of colonization on Mars. Thus, Marscoin (MARS) aims to become the fuel on planet Mars as well as settle huge power consumption requirements. This means that the transactions would be recorded on the platform with high speed.
Hence, considering these notions, Marscoin (MARS) was developed in the market using network ledger speed of light on the planet Mars. Also, Bitcoin needs 10 minutes to form a block on the blockchain. However, Bitcoin requires high energy with special hardware needs to function. Seeking influence from Bitcoin, the platform focuses on launching MARS token on the Mars planet. The platform seeks to develop a medium for trade for “Martian Society,” early settlers of Mars planet. Marscoin (MARS) is a blockchain technology that aims to allow users to trade cryptocurrency while funding space exploration projects as well.
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