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 payment instrument that will be used by medical marijuana sellers in those regions where it is legalized.
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 process of funds transferring.
Initially, the developers wanted to release a crypto-coin CANN, which would be equivalent to 1 g of a real product.
The development of Altcoin was also promoted by the statements, that patients who received a license to purchase cannabis, due to this crypto fund, will soon be able to buy a certain amount of cannabis.
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 medical marijuana using.
Coin CANN was positioned as an electronic means of payment and was intended for the audience of those regions, where the purchase of marijuana is legalized.
First of all, here we are talking about the United States of America, where in some regions cannabis is legalized.
It was planned that one Cannabiscoin would equal 1 gram of marijuana. Thus, 1 CANN should have cost 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 cost of Altcoin is supported by actually produced hemp.
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 crypto money.
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 when it comes to medical use. At the same time, various communities are being created around this project, whose hidden mission is to legalize cannabis not only in the United States of America but throughout 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 the first 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.