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.
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 - 30,000||36||1,079,928||241,079,998||20||80|
|30,001 - 100,000||36||2,519,964||243,599,962||35||65|
|100,001 - 250,000||21.6||3,239,978.4||246,839,940.4||21||65|
|250,001 - 600,000||12.96||4,535,987.04||251,375,927.44||21||65|
|600,001 - 1,000,000||9.07||3,627,990.93||255,003,917.37||21||65|
|1,000,001 - 1,500,000||6.35||3,174,993.65||258,178,910.02||21||65|
|1,500,001 - 2,000,000||3.56||1,779,996.44||259,958,906.46||21||65|
|2,500,001 - 3,000,000||2.84||1,419,997.16||261,378,903.62||21||65|
|3,000,000 - ∞||.001||38,621,096.38||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 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: