What is PotCoin Coin (POT) – Ultimate Guide for Beginners
Reading: What is PotCoin Coin
PotCoin offers a bare transaction platform for legal cannabis trading. In many countries around the global where cannabis is officially allowed to be sold, the company has a growing principal free-base and the Potcoin coin is accepted as a mean of payment .
Potcoin is a digital currency that allows consumers to buy and sell cannabis products anonymously. Think of potcoin as bitcoin that is used lone for marijuana, cannabis, and cannabis products .
Potcoin Marketplace trades entirely in cannabis products .
PotCoin was primitively a branch of Litecoin-QT, but with some authoritative differences, including a short block generation time, a faster halve schedule and an increased maximum issue of coins .
To start trading marijuana with POT, a user creates a digital wallet which generates a unique populace address to receive the coins and a individual key to access the funds. Potcoins transferred to a exploiter ’ south wallet can be used to anonymously buy and sell cannabis products on a global scale .
The currency reward for mining the currentness stands at 210 potcoins per block. mine can be done using ASICs, GPUs or CPUs. The mining algorithm for the currentness has since changed to POSV from Scrypt. This new algorithm is designed to reward both the possession of the coins and the transactions .
Who is behind the project?
It was released in January 2014 by three entrepreneurs in Montreal, Canada .
The collapse and CEO of the party is Joel Yaffe .
He has already been involved in two early successful companies, GuestDriven. com and ICanGoWithout. com.
His co-founder Nick Iversen has more than 13 years of have in design, selling, advertising, brand and exploiter experience .
The CIO Russ Thomas enriches the team with 21 years of experience in information security, fiscal services and start-ups .
Alec Rochford is the sales director in the USA. He has professional experience in sales, occupation development and improving customer relationships .
What is planned for the future and what are the company’s goals?
PotCoin wants to become the payment standard for cannabis transactions and strengthen customer loyalty in the residential district .
They besides strive to give credibility, constancy and security to the ever-growing cannabis community and to eradicate the negative trope of the scene .
not long ago, cannabis was illegal in the USA, so trade and manipulation are not “ socially acceptable ”. This makes traditional payment process via banks unmanageable .
PotCoin besides wants to save users the senior high school transaction fees. presently, 44 companies are listed in their dealer directory and far expansion is planned .
In this feat, the Developers and Ambassadors Program was launched to attract more local dealers for the visualize .
The company is besides involved in charitable projects and has established a non-profit fund-raise program for assorted charitable organizations .
Since PotCoin concentrates entirely on the cannabis commercialize, the development opportunities are still relatively limited .
The cannabis trade is illegal in many countries and, consequently, these markets remain on the fence .
The success and development of PotCoin as a caller consequently depends to a boastfully extent on the development of the legal site .
A rethink of cannabis in many countries and legalization for medical purposes makes PotCoin interest and promising .
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