These are the official coin swap instructions. Members of the THC team will not be contacting you on Discord, Telegram, Twitter, or Facebook to initiate a swap. Scam artists are currently impersonating members of the THC team and offering to swap community members' coins. These are attempts to steal your THC. Do not let them!
HempCoin was one of the first 30 cryptocurrencies developed in 2014. It is a highly focused digital currency based on Bitcoin with improved payments and security features. HempCoin aims at delivering global liquidity to the Agricultural and Farming sectors, as well as a simple and decentralized payments system for medical and recreational Cannabis, Hemp and Tobacco.
Upon inception, HempCoin was the only cryptocurrency for Agriculture, a trillion-dollar trade business worldwide. The vision was and remains for HempCoin to help facilitate transactions between farmers and distributors overseas.
Our vision is to overcome the HempCoin’s key liquidity issues affecting mainstream adoption and increase usability. The HempCoin is embracing trends in payment technology to provide a real-world banking solution for the legal cannabis industry and easy-to-implement alternative payment solutions for the agricultural and farming industries, industrial hemp industry, cannabis dispensaries, and hemp, cannabis, and tobacco-related retailers.
Banks in the U.S. are not accepting legal cash for hemp transactions, largely in part because it is illegal on the federal level. Our mission is to have a cryptocurrency that can be used for online payment systems and peer-to-peer transaction services including Point-of-Sale systems and card terminals. This coin will directly serve the hemp, cannabis, agriculture, and tobacco industries.
The THC Coin Swap
The THC coin swap will occur the third quarter of 2018. The new THC token, based on PIVX, will include privacy via Zerocoin protocol, instant transactions via SwiftX, and feature masternode capabilities.
The decision to embark on this new direction was one of both want and necessity. With the creation of HempPAY™ and the desire to not only remain competitive but lead the way in the crypto-cannabis sector, the only option was a fork with the outcome being a far superior THC token.
The new HempCoin is not only an upgrade from the current coin, but the most technologically advanced coin in the cannabis field.
Privacy Technology: Zerocoin Protocol based on libzerocoin (called zTHC)
Key Features: Custom accumulator check-pointing system
Accumulator Encryption: RSA-2048
zTHC Denominators: 1, 5, 10, 50, 100, 500, 1000, 5000
Mint time: >= 0.5 seconds
Spend time: >= 2.5 seconds
Maximum single Spend limit: 35,000 THC
Maximum single Spend denomination count limit: 7
Fees (mint): 0.01 THC per minted zTHC denomination.
Fees (spend): No fee to spend zTHC back to THC.
Minimum THC confirmation count required to mint zTHC: 6 confirmations
Minimum zTHC confirmation count required before spend: 20 confirmations
Maturity requirement before zTHC can be spent: 2 new identical denomination mint added to accumulator
|Block Height||Reward||Coins Minted||Circulating Supply||POS Reward %||MN Reward %|
|2 - 199||5||990||240,000,990||20||80|
|200 - 100,000||36||3,592,800||243,593,790||20||80|
|100,001 - 250,000||21.6||3,239,978.4||246,833,768.4||21||65|
|250,001 - 600,000||12.96||4,535,987.04||251,369,755.44||21||65|
|600,001 - 1,000,000||9.07||3,627,990.93||254,997,746.37||21||65|
|1,000,001 - 1,500,000||6.35||3,174,993.65||258,172,740.02||21||65|
|1,500,001 - 2,000,000||3.56||1,779,996.44||259,952,736.46||21||65|
|2,500,001 - 3,000,000||2.84||1,419,997.16||261,372,733.62||21||65|
|3,000,000 - ∞||.001||38,627,266.38||300,000,000||21||65|
Zerocoin Protocol provides anonymity by using THC to mint a completely private coin, zTHC, before being sent to the recipient. The zTHC arrives in the recipient’s wallet as THC without record of origination.
HempCoin is able to complete near-instantaneous transactions similar to a credit card without the use of a centralized authority.
Decentralized governance, allowing owners of masternodes to vote on proposals. Successful proposals can then be implemented by HempCoins developers.
HempCoin uses the masternode system to fund its own development as well as to fund individual projects that perform valuable tasks on the platform.
HempCoin uses a Proof-of-Stake (POS) algorithm to achieve distributed consensus on the HempCoin blockchain. By staking your coins your wallet, which runs a HempCoin node, is taking part in validating transactions. Stakers, in return, are rewarded for this service with additional THC.
There are not mandatory minimums for staking THC coins. The only requirement is that the coins are matured and that the wallet holding the coins is unlocked for staking and online. That being said, the amount of coins which you are staking, and the age of the coins in that address work towards determining your probability of receiving a staking reward.
To stake THC:
At HempCoin, our end goal is not just to become a payment option during the purchase of cannabis but a primary payment method. In 2018 we aim to offer three payment methods: HempPAY™ Mobile, HempPAY™ Card and HempPAY™Online.
HempCoin will to work together with dispensaries to create incentives for cannabis buyers to choose cryptocurrency as a form of payment over fiat. With our HempPAY™ Mobile and HempPAY™ Card options.
HempCoin is also working with e-commerce solutions such as WooCommerce, Magento, OpenCart, PrestaShop and OSCommerce to provide customers with the option to pay in THC.
Medium | 10 Jul 2018
GrowPayment, Inc. announced it will accept HempCoin on its e-commerce solution for the cannabis industry, Stembis.com.
Tom Dumoni | Masternode Buzz | 12 Jul 2018
There is no arguing the fact that a large percentage of food products go to waste before they move from farmers to distributors or final consumers (especially in...
Jake The Crypto King | Bitcoinist | 14 July 2018
With terms like Bull and Bear being thrown around on a daily basis, it is becoming increasingly obvious. No one truly knows when the trends...
|Bitcoin offers the cannabis industry an alternative to banks|
By Annie Nova | CNBC | 15 Dec 2017
|The Grass Is Only Getting Greener For The U.S. Marijuana Market [Infographic]|
Niall McCarthy | Forbes | 3 Jan 2018
THE OLD COINS WILL NOT WORK IN THE NEW WALLET. IF YOU SEND YOUR COINS TO THIS WALLET THEY WILL BE LOST.
MOVE YOUR OLD THC WALLET FOLDER BECAUSE THE NEW WALLET WILL LOAD IN THE SAME FOLDER AND CONTAMINATE.
Do not risk losing the coins in your current wallet. Please backup your existing wallet in a separate location before installing the new wallet.