PotCoin Review or the Legalization of Marijuana Using Tokens

potcoin

The market of cryptocurrencies contains a big number of various coins and tokens. The vast majority of people, even those who stepped their game up, are unaware of the existence of many coins that are designed for narrow sectors of the economy. One of these will be discussed in our today’s article. Have you heard about PotCoin?

Contents:
(please click the topic to scrol down to it)

  1. What is Potcoin?
  2. Advantages and principle of work
  3. How to use Potcoin?
  4. Conclusion

1. What is Potcoin?

This cryptocurrency is not actually a pioneer in the market, it was launched in 2014. The main purpose of the coin is to facilitate transactions in the industry of legalized cannabis (marijuana). In fact, PotCoin is a means of payment, with its help you can easily transfer money anywhere in the world. The project has its own decentralized payment network.

As the developers assure, the use of PotCoin simplifies scalability, enhances security and creates significant cash savings for companies that use it.

At the moment, the coin price is $0.0515, the total capitalization is $11.3 million, and it ranks 410 in the global rating of Coinmarketcap.

2. Advantages and principle of work

Considering the abovementioned, let’s take a closer look at the advantages and disadvantages of the PotCoin cryptocurrency:

  • very fast, almost instant transactions;
  • safe and transparent platform;
  • small commissions and tariffs;
  • the possibility of simple scalability.

If we touch on the technical part a bit, it is worth noting that this coin is built on the algorithm of mono nodes. The project has an open source code that was released using the MIT license.

If you look back and look at this coin at the very beginning of its path, it will be very difficult to notice the differences from Litecoin. In fact, the project was Litecoin’s hard fork in the sphere of cannabis, only the changes in the source code were minimal in the beginning, and they consisted in reducing the time spent on generating blocks. Initially, a reward for the miners was established at 420 coins for the found block, but after a while, this value was reduced by half. Now the average time for generating a new block is 40 seconds, and for a reward for it will be 210 coins.

More global changes in the code of cryptocurrency occurred in late summer of 2015, then the development team introduced a new PoSV proof algorithm, which the network operates on to this day.

3. How to use Potcoin?

This cryptocurrency can be used by any person who has access to the Internet. But initially it was designed specifically for companies that are specialized in the production and marketing of cannabis. Potcoin is designed to work with the B2B segment, therefore, there are separate advantages of use for business. For example, any licensed company in this field can receive and send PotCoins through the “trading gate” of the system. This significantly reduces commission costs, the time of transaction and increases overall security.

You can store these digital tokens both on the specialized PotWallet wallet and on third-party electronic wallets. A specialized wallet is quite simple to use, and an average person can understand it in a matter of seconds.

Potcoin can be bought at a dozen major exchanges, including Poloniex, Bittrex, etc. You can earn these coins simply by owning them, since the algorithm which the system works on is built on Proof of Stake Velocity. The interest rate from it is about 5% per annum.

4. Conclusion

The Potcoin cryptocurrency was launched in 2014. Initially, it was a copy of Litecoin, as it was its hard fork. One of the main advantages of the system is the implementation of the PoSV ownership proof algorithm.

Anyone can use the coin, but it is meant for working with companies that manufacture and sell cannabis. It significantly reduces costs for business and also increases the level of security of transactions. As for the forecasts, we should not expect huge growth, since this cryptocurrency is strictly narrow-aimed.

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Binance Will Add Stablecoin USDC To Its Listing

Recently, one of the major crypto exchanges, Binance, has published a notice which says, Binance will open two new pairs for trading on November 17. Interestingly, those two pairs include a new-comer – USDC – stablecoin backed by Circle.

The trading pairs are USDC/BNB and USDC/BTC; the trading starts at 2018/11/17 03:00 AM (UTC). However, users are already able to deposit stablecoin in advance.

Moreover, Binance wrote there would be a “top-ranking auditing firm” to preserve the transparency of the stablecoin. Every month, the firm is bound to provide data of “the corresponding USDC and USD balances held/issued.

We want to remind you, such crypto exchanges as OKEx, Huobi, BitPay, Coinbase have already listed USDC stablecoin on their listings.

Dollar-Pegged Stablecoins Exceeded the Price Point of $1

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Cryptocurrency Prices Today, November 15: Cryptocurrencies Collapsed in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 10.76% over the past 24 hours. The price at the time of writing is $5643 per coin.

Almost all cryptocurrencies absolutely crashed in price:

Bitcoin Cash lost 13.28% over the past 24 hours and costs $447 per coin;

Ripple dropped by 8.94% and is $0.46 in price;

EOS fell by  11.7%, and its price is $4.66;

Litecoin lost 13.45%, and its cost is $42;

Cardano decreased by 14.13%, and its value is $0.061;

Stellar lost 8.24% and is worth $0.23;

IOTA became cheaper by 16.64%, and its cost is $0.48;

Dash dropped by 12.34%, and its price is $142;

Monero decreased by 13.95% and costs $90.

Over the past day, Ethereum lost 12.76%. The cost of the coin is $179.

The total market capitalization dropped significantly to $185 billion. Bitcoin accounts for 53% of the total. In monetary terms, the amount dropped to $98 billion.

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Bank of America Has Officially Patented A System for Saving Crypto Actives for Significant Corporations

One of the major USA banks has been approved the patent for a system of saving crypto assets. The application for the patent describes a method for safekeeping cryptocurrency assets of users of the system. It also stated that the bank will cooperate only with major corporations.

The popularity of using cryptocurrency has turned into a trend that many companies are aiming at. The biggest part of major corporations serves their clients with the help of cryptocurrency. Because of this, there is a need to convert the cryptocurrency into any currency deposit, which has to be placed in a storage.

It is possible to improve the security and safety of deposit funds with the help of single corporate accounts that maintain the cryptocurrency storage.

At the same time, the clients will receive credit funds, the amount of which is equal to the crypto deposit. This concept was introduced by Bank of America.

The patent spelled out a storage system specially designed for the banking system, which processes and stores the secret key. The system is demanding to high throughput of a channel and the amount of calculation capacities.

When required to complete a transaction, the system will provide customers with access to Member’s personal account.

It should be reminded, that previously Bank of America approved the patent for close system private keys, that supports remote management.  

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Crypto Master Minds That Made It Into Forbes’s 30 Under 30

One of the most famous editions in the world, Forbes, came out with its annual rating of the most influential people under the age of 30 in different spheres of activity, including healthcare, music, art, retails and many others. This time the section of “finance” was replenished with a couple of blockchain and crypto personalities, namely:

1. JB Rubinovitz (26) is a crypto entrepreneur whose goal is to incorporate crypto mining as a way to provide bails for arrested people.

2. Olaoluwa Osuntokun (25) is one of the founders and a Chief Technical Officer of the company Lightning Labs. He raised $2.5 million to develop Bitcoin as a fully usable means of payment.

3. Hunter Horsley (28) is a CEO of the company Bitwise Asset Management. His firm specializes in creating crypto indexes.

4. Nader Al-Naji (26) and his company Intangible Labs are currently working on a concept of a cryptocurrency that could easily replace the usual banks.

We remind you:

Forbes Launches Its Own Version of the CoinMarketCap

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Cryptocurrency Prices Today, November 14: Cryptocurrencies Continue to Decline in Price

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 0.16% over the past 24 hours. The price at the time of writing is $6356 per coin.

Almost all cryptocurrencies are in the red zone:

Bitcoin Cash lost 0.66% over the past 24 hours and costs $502 per coin;

Ripple fell by 2.29% and is $0.51 in price;

EOS minus 2.40%, and its rate is $5.30;

Litecoin decreased by 0.95%, and its price is $49;

Cardano dropped by 3.02%, and its cost is $0.072;

Stellar lost 4.23% and costs $0.25;

IOTA added 0.37%, and its value is $0.48;

Dash plus 0.15%, and its price is $164;

Monero lost 0.99% and costs $106.

Ethereum lost 1.03% over the past day. The cost of the coin is $206.

The total market capitalization is $209 billion. Bitcoin accounts for 52.8% of the total. In monetary terms, this is $110 billion.

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The Real Estate Market Switches to Blockchain

The power of countries depends on the economy, which real estate market is a significant segment of. More than 50% of global finance belongs to it. An impressive share, isn’t it? This market segment is most adapted to reforms and crises.

However, this does not mean that it cannot be slightly improved by innovations, such as the blockchain. Technological upgrade will allow the real estate market, as well as the economy in particular, to move to a new stage of development.

While the real estate market is “collecting its belongings” and is preparing for a full-fledged move to the blockchain, a Japanese company has launched the sale of real estate for cryptocurrency. A couple of Bitcoins can buy you a paradise on an island somewhere in the Caribbean. The world of real estate is gradually becoming digital.

Definitely, the “relocation” of the housing market onto the blockchain will have a positive impact on its development. This promising combo will improve and facilitate the purchase of real estate as follows. It will allow to:

  • exclude intermediaries who charge a commission in the course of transactions;
  • reduce the time for the preparation of transactions and references;
  • reduce the risk of fraud;
  • simplify the process of checking property before selling:
  • customers can buy property at any time of the day;
  • opportunity to track the entire history of the transaction.

All this makes the purchase of real estate easier and safer, but not publicly available. The latter and the above mentioned benefits can be offered by Elements Estates.

The project provides an opportunity to buy housing not only to reserved players. Owing to blockchain technology the national boundaries are disappearing as assets can freely move from one country to another.

It is time to improve the global economy by reinforcing the real estate market with blockchain and cryptocurrency.

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