PotCoin (POT) Price

PotCoin (POT) is a peer-to-peer cryptocurrency designed to become the standard form of payment for the legalized cannabis industry. It is an open source software project released under the MIT/X11 license and is not managed by any central authority, providing a decentralized solution for the transfer of value.

PotCoin is based on a public ledger known as a blockchain. It was originally a fork of Litecoin-QT but with key differences including a shorter block generation time, a quicker halving schedule and an increased maximum number of coins. Before its public release, 55 blocks were mined for checkpoints.

The initial block reward for PotCoin was set at 420 PotCoins, but on June 1, 2014, the block reward was halved. The biggest change in PotCoin occurred on August 23, 2015 when it changed to Proof-of-Stake-Velocity (PoSV), which made it technically different from Litecoin.

The most outstanding characteristic of PotCoin is its focus on the cannabis industry. POT tokens can be used to purchase goods and services from cannabis merchants who accept PotCoin as payment. Additionally, PotCoin has provided support to various cannabis-related causes and events, acting as an advocate for the legalization and normalization of the cannabis industry.