What is Hempcoin?

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In short:

  • Fast and transparent transactions.
  • Easily distributed, spent and protected.
  • Decentralized banking system controlled by the user.
  • Little to no transaction fees.
  • Rewarded for continued use.
  • Convenient technology for a modern age.
  • Anonymous, should you choose to be.

Ease of use

The Hempcoin is setup to make sending and receiving coins as simple as possible. Simply enter the address you wish to send money to, enter the amount and verify. Your coins will be sent and received within seconds. We never close, we never put holds on your account; we simply get your money wherever you need it fast. The average transaction time is 40 seconds.

Transparency

Currently, for many businesses it is a taxing process to manually keep track of each and every transaction per day. With the Hempcoin, it's as simple as holding a wallet address. Each wallet's transaction are publicly available with the Hempcoin blockchain explorer. At the end of each day, the merchant simply prints the list of transactions associated with their account and all the information needed is provided. No private and personal information will be released.

Decentralized banking

Decentralization is the process of redistributing or dispersing functions, powers, people or things away from a central location or authority. This means no single entity owns or controls the Hempcoin, it is managed by the supporters of the coin and public opinion. Decentralized banking is important to the future as current systems are heavily controlled, restricted and susceptible to corruption. You work hard for your money, spend it how you wish.

As the banks in the United States are not accepting legally obtained cash for hemp transactions, the Hempcoin team is currently working to provide a transaction service to utilize a point of sale terminal with a smart card system. This system will be able to provide transaction service to the hemp industry.

Proof-of-Stake

"Proof-of-stake" is a term that refers to "is a method of securing a cryptocurrency network through requesting users to show ownership of a certain amount of currency. It is different from proof-of-work systems that run hashing algorithms to validate electronic transactions."

In simple that means the more coins you hold, for the required amount of time, the more your coins will grow. Much like Hemp, with the Hempcoin your hardwork and dedication pays off. After 45 days of having your coins, your Hempcoin wallet will gain 5% more coins.

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