Mastercoin - Definition from the Hotspot Shield Encyclopedia

Mastercoin is a communications protocol, but primarily a digital currency that is based on the Bitcoin Blockchain. Mastercoin was created in 2013 and was first launched using a fundraiser where anyone could buy Mastercoins. The Mastercoin project aimed to enable complex financial functions in a cryptocurrency environment, and also sought to offer a savings wallet, smart property and an exchange service. In 2014, Mastercoin was the 7th most influential cryptocurrency according to market capitalization, however in 2015 the business and currency was rebranded to Omni. Omni shifted its aims and was developed as a platform that decentralized protocols could be used on like MaidSafe. Omni is a layer that is implemented on top of Bitcoin and the Bitcoin Blockchain.