Avid readers of CryptoArticles will have read our marijuana-themed digital currencies article we posted yesterday. As promised in that article, we will take a look at each of the mentioned coins individually. Up first on that list is CannabisDarkcoin.
One of the golden rules in the world of digital currency and altcoins is to never judge a book by its cover, or in this case, a coin by its name. Everyone thought DogeCoin was a stupid name with a stupid idea, and look how that change the cryptocurrency landscape.
Granted, CannabisDarkcoin isn’t exactly a name that will roll off the tongue quite often, but that doesn’t mean they can’t bring some interesting features to the table. Especially in regards to anonymity features, as the cannabis industry is still a grey area in most parts of the world.
When a new altcoin launches these days, most of them are holding an Initial Coin Offering (ICO) on one of the major exchanges. CannabisDarkcoin did the same, but not on Bittrex like most coins. Instead, they used the AllCoin exchange, which is a “smaller fish in the pond”, so to speak.
Whereas most altcoin ICO’s destroy unsold coins, should that ever happen in the first place, CND did not take that route either. Even though the option to destroy the coins was there, it was eventually decided to split all CND among the people who invested in the ICO.
While the ICO investment saw some disappointing numbers, with only little over 7 Bitcoin invested in the project, the investors ended up being the big winner. As all coins were distributed, every investor got over 5 times the amount of coins they originally purchased.
In total, 4,200,000 CND were distributed among investors, meaning each CannabisDarkcoin was sold at the price of roughly 170 Satoshi. Seeing as how CND is currently well above 2,400 Satoshi per coin, this was an incredibly lucrative investment.
Unlike other altcoins, those 4,200,000 CND sold are not the entire coin supply. Once the ICO ended, the mining of coins could begin. The total coin supply will end up between 7 and 8 million coins, and only 84,000 blocks will be mined. According to the CannabisDarkcoin block explorer, there are still over 60,000 blocks left to be mined.
Block Rewards: 1 CND(first 100 blocks)
Block Rewards: 420 CND (till block 4200)
Block Rewards: 210 CND (4201 – 8400)
Block Rewards: 105 CND (8401 – 12600)
Block Rewards: 52.5 CND (halve every 4200 blocks)
Block Rewards: … till block 84000
As CannabisDarkcoin is a Proof-of-Work/Proof-of-Stake hybrid coin, users are incentivized to keep most, or preferably all of their coins in their wallet. By doing so, users will earn a 10% stake interest per annum.
Launching a new altcoin without any features from the start is a pointless undertaking these days. CannabisDarkCoin offers two interesting services from the get go, as both CNDSend and CNDChat are available directly from your QT client.
CNDSend allows users to send transactions anonymously, which could be a positive feature for a marijuana-themed digital currency. As there are no official details on how the anonymity is achieved, we cannot give you more information at this point unfortunately.
The same goes for CNDChat, as this is without a doubt some form of Encrypted Messaging, another feature we see in nearly every altcoin these days. Once again, no further details have been made available by the developer.
Even though CannabisDarkcoin does not have a website, nor an official development roadmap, some upcoming features have been announced by the developer. An in-wallet exchange feature, called CNDExchange is currently in development.
CNDVoice, another one of those features being announced without any details whatsoever, is being developed as we speak. I’ll take a wild shot in the dark here and assume this is some sort of VoIP feature like we see in KoreCoin?
Last but not least, there is a little something called CNDGame, a platform or feature allowing users to place bets on sports games. Sounds interesting, but as with everything else, it unfortunately lacks details at this point in time.
If you want to find out more information about CannabisDarkcoin, you can check :
BitcoinTalk : https://bitcointalk.org/index.php?topic=825005.0
Twitter : https://twitter.com/CannabisDark