THC and the HempCoin Blockchain

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The Hempcoin cryptocurrency is based on the PIVX blockchain code. The HempCoin blockchain includes privacy using Zerocoin protocol, instant transactions using SwiftX, and feature masternode capabilities.

The decision by the HempCoin team to embark on this path 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 coin.

HempCoin is not only an upgrade from the original, but the most technologically advanced coin in the agriculture and cannabis industries.

Coin Specs


Algorithm: XEVAN
Block size: 2 MB
Block Time: 60 Seconds (Re-targeting every block)
Coin Emission Rate: Max. 36 THC per block (Always less due to burnt fees & unused treasury)
Coin Supply Control: ALL transaction & zTHC minting fees are burnt from coin supply.
Max Supply: 300,000,000

RPC Port: 27777
P2P Port: 25777

PoS Stake Eligibility
Minimum Input Age: 60 minutes
Maturity Confirms: 101 confirms
Wallet Status: Requires wallet to be kept running & online.

Transaction Send Eligibility
Minimum Confirm: 6 confirms

SwiftTX Eligibility
1 confirm for locking and 6 confirm to spend.
Collateral held for 15 minutes.

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 %
1240,000,000240,000,000240,000,000(Premine)0
2 - 30,000361,079,928241,079,9982080
30,001 - 100,000362,519,964243,599,9623565
100,001 - 250,00021.63,239,978.4246,839,940.42165
250,001 - 600,00012.964,535,987.04251,375,927.442165
600,001 - 1,000,0009.073,627,990.93255,003,917.372165
1,000,001 - 1,500,0006.353,174,993.65258,178,910.022165
1,500,001 - 2,000,0003.561,779,996.44259,958,906.462165
2,500,001 - 3,000,0002.841,419,997.16261,378,903.622165
3,000,000 - ∞.00138,621,096.38300,000,0002165

Block Size

2M

Block Time

60 seconds

Block Reward

21.6 THC

Features

Privacy and Anonymity

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.

Instant Transactions

HempCoin is able to complete near-instantaneous transactions similar to a credit card without the use of a centralized authority.

Governance and Voting

Decentralized governance, allowing owners of masternodes to vote on proposals. Successful proposals can then be implemented by HempCoins developers.

Budgeting and Treasury

HempCoin uses the masternode system to fund its own development as well as to fund individual projects that perform valuable tasks on the platform.

Masternodes

To add additional security, privacy, and transfer options HempCoin has introduced masternodes. In order to operate a masternode, you will need 50,000 THC coins as collateral. This entry amount will act as collateral and is used to ensure that masternode owners do not attempt to compromise or corrupt the system. There is no limit to the amount of masternodes you can operate and while rewards are random, each masternode is compensated equally over time.

50000

Collateral (in THC)

65

Current Block Reward %

Hempcoin is proud to offer Masternode Guard by MYCE

Mobirise


Masternode one click hosting, setup, maintenance and reward notifications to your mobile. Pay with THC!

SETUP ONE-CLICK MASTERNODE HOSTING

Staking

Earn rewards by staking your THC in a running HempCoin wallet. 

HempCoin uses a Proof-of-Stake (POS) algorithm to achieve distributed consensus on the HempCoin blockchain. By staking your coins in your wallet, you are taking part in validating transactions. Staking wallets, in return, are rewarded for this service with additional THC coins.

There are not mandatory minimums for staking THC coins. The only requirement is that the coins are mature and that the wallet holding the coins is unlocked for staking and continuously online. That being said, the amount of coins which you are staking, and the age of the coins in that address help towards determining your probability of receiving a staking reward.

To stake THC:

  1. Open your HempCoin Wallet.
  2. Wait for blockchain to fully synch and ensure the checkmark in bottom right corner turns BLUE.
  3. Click on the ‘Tools’ Dropdown and select ‘Unlock Wallet’.
  4. Check the box that says ‘For Anonimization and staking only’ and then input your password.
  5. The lock icon should show unlocked now in the bottom right corner. If you hover over the icon you’ll see that the wallet is unlocked for staking only (this means that to transfer any currency, you would need to input your password again).
  6. Lastly, the Staking icon in the bottom right will turn GREEN once all the criteria is met (unlocked wallet, active connections, mature coins).
  7. Your wallet is now staking.