The Pakcoin was launched in July 2015 and is expected to benefit Pakistani users. The promoters, however, have promised that anyone looking to trade in digital currency, regardless of location, can use the currency. The currency is based on the litecoin blockchain. The open source code for developers is offered on github, so new features can be forked easily. There are more than 180 million PAK tokens available. Users can mine the currency. Exchanges that offer the Pakcoin include cryptopia, yobit, and tradesatoshi.
The Pakcoin has been launched with high expectations. According to users, there is much riding on the success of the Pakcoin. If successful, it could show a way out of the financial gloom affecting the country. Promoters are also hoping this will help Pakistani users benefit from blockchain based currency. The Pakcoin can be exchanged for bitcoin, litecoin, and doge on the exchanges. Users can also mine the currency, and earn 50 PAK tokens for every block. Difficulty levels are adjusted every block, and the rewards are decreased every few years.
The initial offering included airdrops. The Pakcoin can now be exchanged for other currencies on exchanges. Users will be offered wallets compatible with desktops and phones. The wallets can be used for various activities, such as coin trading, and for staking. Miners can join any active pool, and use the block explorer for mining the currency. The miner will need to pay around 0.01 tokens for mining. The promoters are also looking to make this currency more acceptable to local businesses.
The Pakcoin is a currency that can benefit everyone, be they merchants or buyers. The transaction fee is very low, and this will help buyers purchase things without steep fees. The Pakcoin also offers a payment gateway for e-commerce. This is expected to help online merchants. The currency has been accepted as payment by various offline establishments as well, according to the promoters. Therefore, for local users looking to benefit from blockchain technology, the Pakcoin might offer solutions. The promoters are currently looking to add more features. These will include more focus on e-commerce, remittances from other countries, as well as smart contracts. In a few months, the promoters expect to have larger organizations on board as users of the PAK tokens. Also, cash cards are also being developed. These initiatives might help local users benefit from lower fees, faster transactions, and new investment opportunities.
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