Who are we?
We're just like you...
We get it. We are a strong and talented team of cannabis proponents and tech professionals with years of combined experience in cryptocurrency and the cannabis industry under our belts. We all wanted something better and we saw a future in cryptocurrency.
Let's face it, handling all that cash is an extremely risky effort plus banks are a hassle for cannabis businesses. The world is changing. The idea behind our project is that, simply put, Bitcoin is becoming too valuable to spend on everyday purchases like cannabis and that cryptocurrency, in one form or another, will eventually be ubiquitous.
Cannacoin is smarter, more efficient, and safer than traditional money.
"Stories are a communal currency of humanity." --Tahir Shah
Cannacoin was first deployed on March 28, 2014 as a solution to the "cash only" respite set on growers, dispensaries, and consumers alike through federal regulation and as a response to the Global Financial Crisis (GFC) of 2008. It is the evolution of distributed computing and the BitTorrent protocol.
It was the brainchild of the founders of the popular, but now defunct, NWGT.org medical cannabis forum and exchange that initially formed from a simple CL encounter to well over 20,000 members at its peak.
Cannacoin is a new form of electronic money called "cryptocurrency" more specifically an "altcoin" similar to Litecoin and Dogecoin and is geared toward use within the independent, medical, and recreational cannabis community worldwide as a medium of exchange, a unit of account, and a store of value for cannabis and cannabis related goods and services.
Cannacoin was handmade with love and proudly released under fair distribution with 0.00% pre-mine and no ICO. It transitioned to "Proof-of-Stake" (PoSv) at block 370,000 on December 9, 2014 with a nominal stake interest of 2% annually.
There were 4,625,000 coins mined during the "Proof-of-Work" phase (PoW). Cannacoin has a max supply of 13,140,000 coin.
We want to be your coin of choice for cannabis.
We want to bring Cannacoin to the masses to make the world a better and safer place. Since 2014 we have operated under the philosophy of freedom, community, and service. Wellness, safe access, and harm reduction is what Cannacoin strives for. We are a cryptocurrency for the cannabis community, worldwide because Bitcoin is quickly becoming too precious to spend.
Cannacoin is efficient, transparent, and secure. It is a seamless experience. What are you waiting for?
Where we are going and how we plan to get there...
(Subject to change)
Build our Discord Community
Hire a software engineer
Release an upgraded wallet for Windows, MacOS, and Linux
Launch a block explorer on explorer.cannacoin.org
Release a whitepaper
Recruit a legal team
Employ a payment processor
Subscribe to a risk management service
Deploy a standard order book type exchange at exchange.cannacoin.org
Hire a technical support team
Appoint a customer service representative
Enroll a social media marketing and promotion firm
Enlist a sales team
Garbage In, Garbage Out...
The Cannacoin source code is a brilliant work of art made with love by hand for all to enjoy. It is now, and always has been, completely free and open source available for public audit and contribution on GitHub. We have proudly been "Proof of Stake" since December of 2014 for carbon offset and scalability. Feel free to jump in and browse our codebase and join the more than 200 independent contributors to date.
Meet the Team
It takes a village...
Ever since our initial deployment in 2014, Cannacoin has slowly and steadily grown along with a strong spirit of service, freedom, and community at the top of our list. We've had a great time so far. We’re also very proud of the loyalty and the diversity of our staff, and their abilities to contribute their own unique experience and talent toward our goals. We've got great volunteers, too. Altogether, we've got good bones. Furthermore, we've seen the fads come and go. We've noticed the patterns and trends. We've earned the insight that comes from it and we're in the best position to learn from others in the space and deliver a world-class service to the community. We know it will take time for the public to accept cryptocurrency and we are using that time to build a community and gather steam to concentrate on what is really important for this space.
Frequently Asked Questions
What is Cannacoin?
Cannacoin is a new form of electronic money called "cryptocurrency" with inherent value from supply and demand and uninflatible cryptography that can be transferred over the internet or in person on a peer-to-peer basis with no middleman. It takes advantage of the integrity and accuracy of blockchain technology for tracking the transactions that happen along the network in real-time. Cannacoin is cheaper, safer, and more secure than current monetary systems. It cannot be cloned, hacked, or counterfeited. Someday it will be more valuable than fiat currency.
How does it work?
Cannacoin works like pretty much every other cryptocurrency. We utilize decentralized blockchain technology to record transactions and ensure the security of the value therein. What sets us apart from others is that we use a "Proof of Stake" protocol for mining which is a carbon offset scheme that we are taking advantage of for sustainability and environmental awareness. We have been "PoSv" since Dec. 2014. The amount of Cannacoin you hold determines your network weight which determines your mining power which is used to verify transactions and release freshly minted coins onto the network. You earn new coinage based on the amount of coins you already hold.
What is "Proof of Stake"?
The Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins they hold. This means that the more coins owned by a miner, the more mining power they have. Proof of Stake (PoS) was created as an alternative to Proof of Work (PoW), which is the original consensus algorithm in Blockchain technology, used to confirm transactions and add new blocks to the chain. Proof of Work (PoW) requires huge amounts of energy, with miners needing to sell their coins to ultimately foot the bill; Proof of Stake (PoS) gives mining power based on the percentage of coins held by a miner. Proof of Stake (PoS) is seen as less risky in terms of the potential for miners to attack the network, as it structures compensation in a way that makes an attack less advantageous for the miner. Bitcoin, the largest cryptocurrency, runs on proof of work rather than proof of stake.
Why use Cannacoin?
We believe that Bitcoin is quickly becoming too precious to spend on everyday purchases such as cannabis. Other people are noticing this too, as with the sudden surge in the altcoin market. This is why we need coins like Cannacoin in order to stay relevant and facilitate your cannabis purchases moving forward. Plus, accounting is a breeze. Cannacoin is smarter and safer than cash.
Where can I acquire Cannacoin?
We are in the process of reviving, re-branding, and relaunching the entire project with a whole new team behind us, so you will have to wait for now. We are working to build bridges within the industry and networking with individuals and organizations that can assist us in that task. Please join us on Discord to stay abreast of any updates.
Can I help?
Thanks for asking! Help us raise awareness about the project by telling your friends or tweeting about us. Cannacoin is an open-source project accessible on GitHub as well. We appreciate all of you that want to share your time and energy to assist us. If you would like to volunteer as an intern doing administrative tasks, just go to volunteer.cannacoin.org and sign up there. We look forward to hearing from you.