Why MYD

What is MYD?

MYD is digital money.
It is instant, feeless and eco friendly. It is also secure, efficient, and accessible. In fact, it is one of the most energy-efficient and most environmentally friendly digital currencies! Myanmar Dollars provide an intuitive experience that feels like digital currency should — simple, quick, and just right.

When the Myanmar Dollar network was first set up, an initial coin supply of 340 billion coins was automatically created. It was decided that only a max supply of 110 billion coins (2000 for every person in Myanmar, ~55 million) was needed. For this reason, the remaining 230 billion coins have been officially destroyed by sending them to a burned account which can never be recovered. The burn account is also blocked from sending on all MYD nodes in the project's source code.27

This is exactly the same approach used by the Nano and Banano Cryptocurrencies and has been verified by these communities.28

The reason for having such a large supply of coins is that as the value of MYD grows, it is anticipated that our users would prefer to purchase small items such as food for 1 MYD, rather than MYD having a smaller supply and them purchasing the same food for 0.00001 MYD, as we have seen happen with currencies like Bitcoin.

Our aim for distribution is to be as fair as possible, giving each citizen an equal opportunity to claim their claims. However, we recognize that some citizens may be unable to claim MYD, due to their location or a lack of internet access so will reserve some of the projects to distribute to these people at a later time. It is written in MDY’s whitepaper.

MYD is now starting to pay for food and cosmetics with MYD.

Here Shops accepting MYD payments

More about: https://www.myd.money/