HempCoin is a cryptocurrency specifically developed to provide liquidity to the agriculture and farming industries. It acts as a platform for global transactions between farmers and distributors worldwide. In this article, as Kriptokoin.com, “What is HempCoin?” We will answer the question. In addition to these, we will touch on all the questions about the project.
What is HempCoin? What does THC do?
HempCoin aims to address all the challenges faced by farmers, importers and exporters in terms of currency conversion and monetary transactions. At the same time, THC provides processing services for the Cannabis industry. The tobacco industry is also a target market for cryptocurrency.
THC was one of the BTC-derived cryptocurrencies developed in farming and agriculture in 2014. In 2017, it expanded its uses among other industries such as tobacco and medical agriculture. The company’s CEO, Tim Renzetti, is credited with creating THC. The primary goal of the HempCoin platform is to be able to support a trillion dollar agriculture industry worldwide.
How does HempCoin work?
It works on masternodes. With a minimum of 50,000 THC funds, users can benefit from security, privacy and transaction options with Masternodes. The platform uses the Proof of Stake mechanism to distribute rewards among its users. THC works with hard forks. A hard fork changes the code of a cryptocurrency and splits it into two versions.
The protocol forks a cryptocurrency and verifies previously invalid blocks on the Blockchain. It also uses Point of Sale system integration with peer-to-peer networks for transactions with HempPay. Integrating merchant processing software with the HempPay system, the platform offers point-of-sale transactions such as credit cards. However, master nodes enable instant peer-to-peer transactions.
What are the features of the platform?
- PrivateSend: It offers the possibility of a transaction confidentiality from the source of the funds. The platform uses a unique protocol to combine one user’s logins with two other users’ logins to make transactions untraceable.
- InstantSend: Without any mandate from a central authority, HempCoin allows instant payments using the point of sale system. It works the same way with a credit card.
- Management: As a decentralized platform, each Masternode grants its holder one vote. Thus, all decisions regarding governance are taken by voting.
- Budgeting: THC budgets are funded by Masternodes. It is used to compensate the participants working on the project.
What is HempCoin? How to buy THC?
Exchanges traded with HempCoin (THC); CoinGecko is CoinCodex and Bittrex. For THC Storage; THC Coins are ERC-20 compliant. It can be stored in any ETH wallet such as MyEtherWallet. Other storage choices include hardware wallets such as the Ledger Nano S and Trezor. They are also storage wallets for Exodus and Jaxx THC.
