MIA runs on the Stacks protocol, which in turn runs on top of the Bitcoin network. People can “mine” MIA by sending STX, the native token of Stacks, to a smart contract, which forwards 30% of those contributions to a wallet reserved for the city. Last month, the city voted to accept those funds, now worth $7 million. Suarez said Thursday the project is generating over $2,000 every 10 minutes for the municipality.
MiamiCoin Going Mainstream ‘Faster Than Bitcoin,’ Mayor Suarez Says — CoinDesk
