HempCoin is a cryptocurrency specially developed to provide liquidity to agriculture and farming branches. It acts as a platform for global processes amid farmers and distributors worldwide. In this article, as Koindeks.com, “What is HempCoin?” We will answer the question. In addition to these, we will touch on all the issues that are curious about the project.
What is HempCoin? What does THC do?
HempCoin aims to address all challenges faced by farmers, importers and exporters in terms of currency conversion and financial processes. At the same time, THC also provides process services for the Cannabis industry. The tobacco industry is also in a target market position for the cryptocurrency.
THC was one of the BTC-derived cryptocurrencies developed in farming and agriculture in 2014. In 2017, it expanded its usage areas in the middle of 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 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 Masternodes and security, closure and process options. The platform uses the Proof of Stake mechanism to distribute rewards amid 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 processes with HempPay. The platform, which integrates the merchant process software with the HempPay system, offers point-of-sale process opportunities such as credit cards. However, master nodes instantly enable peer-to-peer processes.
What are the features of the platform?
- PrivateSend: It offers the possibility of a process confidentiality from the source of the funds. The platform uses a unique protocol to combine the logins of one user with the logins of two other users to make the processes untraceable.
- InstantSend: HempCoin allows instant payments using the point-of-sale system, without the arbitrary mandate of a central authority. It also works with credit card in one-to-one form.
- Management: As a decentralized platform, each Masternode grants its holder one vote. Thus, all decisions regarding governance are taken by voting system.
- 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 a random ETH wallet such as MyEtherWallet. In the middle of the other storage preferences are hardware wallets such as Ledger Nano S and Trezor. At the same time, Exodus and Jaxx are storage wallets for THC.