What is it CannabisCoin and how does it work?
The Cannabiscoin project appeared in the spring of 2014. The developers had the task to create a currency people can use to purchase medical marijuana sellers where marijuana is legal.
According to the creators, they are confident that the product they have developed would make it possible to avoid the many difficulties that arise between sellers and buyers during the purchase.
Initially, the developers wanted to release a crypto-coin CANN. They intended for it to be equivalent to 1 g of the real product.
The statement that patients who received a license to purchase cannabis will soon be able to buy a certain amount of cannabis thanks to CANN promoted the development of Altcoin.
To develop the idea, the crypto-coin creators planned to manage the activities related to patients educating concerning the subject of cryptocurrencies.
Features of Cannabiscoin cryptocurrency
As you might guess, the distinctive feature of the crypto fund is in relation to medical marijuana.
Coin CANN took a position as an electronic means of payment. The creation was for the audience of places where the purchase of marijuana is legalized.
First of all, we are talking about the United States of America, where in some regions cannabis is legal.
The plan was: one Cannabiscoin would equal 1 gram of marijuana. Thus, 1 CANN should have been worth about $ 10-20. It is within these limits that the price of medical marijuana in the United States varies. An interesting fact is that the production of hemp influences the value of CANN.
CanabisCoin Network security and mining
This digital asset is based on the Bitcoin blockchain. The security of CANN is at a high level.
We cannot say about the fact that the extraction of crypto money can be carried out by the hardware capacity of the middle class. CannabisCoin mining is simpler than Bitcoin mining and uses the X11 Algorithm. The reward for the extraction of one unit is 105 crypto-coins.
The main pools for mining are as follows:
Capitalization and cost of cryptocurrency
Although the CannabisCoin rate was planned at $ 10–20 per coin, something went wrong.
Today, the value of this asset is about $ 0.07 per one.
The overall level of capitalization of the project is slightly more than $ 6 million.
Opening an account is also available on trading platforms.
Among the main exchanges that support altcoin, there are:
Bittrex, Cryptopia, and YoBit
On a federal scale, the use of marijuana is illegal even for medical use. However, communities are gathering around this issue with the aim is to legalize. They aim to legalize cannabis not only in the United States, but around the world.
Investing in Cannbiscoin asset is investing in the global marijuana market. How important it is – it’s up to everyone’s decision. The idea of becoming ש means of payment for the legal purchase of marijuana is not so bad. It is up to you to decide whether to invest in this crypto fund.