Introduction Of Pakcoin – The First Pakistani Cryptocurrency
Pakcoin is a Pakistani cryptocurrency. However, this is not a government currency. It was created primarily for Pakistanis at home and abroad. A PakCoin is currently worth $ 0.03. Total market capitalization is $ 1.6 million, of which approximately $ 26,000 is traded daily. (As of 10.01.2018)
Pakcoin – The Cryptocurrency
The coin was officially announced on June 22, 2015. It was specially designed for Pakistani to be used at home and abroad. Nevertheless, anyone who is interested in the cryptocurrency has PAK mines and act. In total there should be 182 million PAHs. The blocking time for mining is one minute. Miners get a reward of 50 PAK for each block found. Every three years, the reward per block is halved. The developer of PakCoin, Mr. Shaheer, also established the Gravity Well algorithm, which means that the Difficulty is readjusted after each block. Overall, 10% was premined, which equates to approximately 18.2 million PACs. The cryptocurrency works with the Scrypt algorithm and is based on the Litecoin. All in all, the cryptocurrency is a simple peer-to-peer currency, which is organized in a decentralized manner. A peculiarity of the cryptocurrency is that the first 150,000 Pakistani receive 50 PAHs for free when they register.
Pakcoin – The Roadmap
In the founding year of Pakcoin, the cryptocurrency was already on two crypto exchanges registered. In 2016, three more crypto exchanges and two private hospitals followed, accepting the coin as a means of payment. In 2017, an initiative was taken by the developer to use the Pakcoin in other Pakistani stores. In addition, the website was established and international marketing initiated. For the year 2018, the developer plans a payment gateway. In addition, the cryptocurrency is to be accepted as a means of payment in several online shops. Another feature is smart contracts, which are to be integrated into the concept of the Pakcoin. Next year, the PAKPAY Card will be launched, a type of credit card. Furthermore, a further education campaign is to be started, whereby interested parties can inform themselves about the cryptocurrency.
Where can Pakcoin be bought?
The cryptocurrency can be purchased and traded on the crypto exchanges Cryptopia, NovaExchange, and Yobit. The cryptocurrency developer also provides wallets for Linux, Windows, Android, and iOS. There is also an eWallet and a Paper Wallet. The PAH is to be accepted in several stores in Pakistan in the long term. The cryptocurrency is said to become the most popular and widely used in Pakistan. Fundamentally, people in Pakistan should be able to decide for themselves how to handle their finances, independent of banks in Pakistan.
The cryptocurrency Pakcoin is not an official national cryptocurrency in Pakistan. However, it has been established for Pakistanis so that they can pay easily at home and abroad. The focus is on financial independence. Nevertheless, anyone interested can mine and trade PAHs at any time.
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