In our continuing quest to cover as many of the alternate crypto currencies out there, our journey today will start with PandaCoin. I do mean the PND one, not the PANDA one. That’s not helping is it? Oh well, just read on, you’ll be fine.
Before we go on with this article, I want to tell you a little about the history of PandaCoin, and why exactly it was created. The following are quotes from the official PandaCoin thread on BitcoinTalk :
“This coin was created as a response to the dishonest actions of a cryptocoin market manipulator/scammer “Wolong” who sought to exploit the Chinese market and investors through the use of empty symbolism.”
“Wolong and his followers openly scammed people who saw a need for a Chinese cryptocurrency and used the beloved panda, a symbol of China, to gain support for their coin in an unethical way.”
“Although we agree that China is in need of its own cryptocurrency, we do not agree with the dishonest practices of previous currencies. To counter this, we have created a new, fair Pandacoin (PND) with no IPO and 0% premine.”
“This is very important so that Pandacoin (PND) can grow into a coin which is fair for everyone to mine and use for purchasing goods and services.”
If you take our earlier article into consideration, the one about China still trying to sway people from using Bitcoin as a currency or payment method, maybe they do want their own crypto currency instead. Could PandaCoin become the one? We will see….
It’s time to throw the technical specifications at you. As mentioned before, PandaCoin has no pre-mine or IPO, which is a very rare thing these days. I really would’ve expected PandaCoin to have a lot more interest, simply because of those facts. Maybe it’s just me….
Besides those two great facts, PandaCoin is a Scrypt coin, using Kimoto Gravity Well to adjust block difficulty. Each block holds 50,000 PND, which might be changed if PandaCoin decides to go the PoS route.
There is currently a vote going on at the BitcoinTalk forums, on whether PandaCoin should go Proof-of-Stake, or perhaps even add merged mining with DogeCoin. I’ve cast my vote for the latter, personally, as I want to see Scrypt merged mining take off sooner rather than later.
PandaCoin (PND) Donations can be sent to : PCkgCgznHuyNSe1anfLE7bMZqs7ofCPw3P