Connect with us

Blogs

$PAC – The “Socially Active” Crypto Project that Rises Like a Phoenix

Published

on

$PAC
READ LATER - DOWNLOAD THIS POST AS PDF

$PAC is the third-generation cryptocurrency that is poised to change the way we interact online. Deriving from “People’s Alternative Choice,” $PAC is a rising phoenix – a blockchain-powered coin that has been developed on the ashes of an outdated analog referred to as PACcoin.

PACcoin was initially launched in 2014 with the goal to unite developers, marketers, and all crypto enthusiasts in a single network. However, given that the cryptocurrency project had not been updated for years, the coin’s rate fell and interest in the project faded.

In August 2017, a new community-driven management team started the meticulous task of rebranding and re-launching the cryptocurrency. This is how the current third-generation digital coin was born. $PAC is based on DASH code, suggesting that it provides more advanced anonymity features when compared to Bitcoin. In November 2017, the code was entirely upgraded, and the project had already had a new webpage and coin wallet. The project was officially re-launched on February 1, and now the team has many challenges ahead.

$PAC’s primary goal is to turn into the most efficient and user-friendly digital currency out there. It plans to cover the majority of the countries across the globe. The digital currency leverages blockchain technology and relies on the Proof-of-Service (POS) consensus algorithm to maintain the network. The latter revolves around masternodes and represents an excellent opportunity for users to generate decent profits.

When looking into $PAC’s performance in comparison with other digital currencies, we can see that the coin has great potential, as it beats the largest cryptocurrency by market cap in terms of features.

Image source: http://download.paccoin.net/PAC_White_Paper_2018_Final.pdf

$PAC Development Updates

Since the moment of the official launch in February, the team behind $PAC has released a wide range of technology and development updates, to make the project feasible during any market conditions. For example, the $PAC woocommerce plugin was introduced to allow the coin’s compatibility with any online retailers that rely on WordPress sites. Currently, the team is working on other payment gateways as well.

The team has already released the electrum-lite wallet for all MAC, Windows, and Linux users. The wallet versions for Android and iOS have also been released a few days ago after the team has addressed the final bug fixes. There is also a “PAC vault” hardware wallet, which is currently under development. The latter will be a much safer method to hold the new $PAC coins. The available wallet versions can be downloaded on the coin’s website.

$PAC’s Projects and Initiatives

Despite being at its very nascent stage, the newly rebranded project has been already explored for several use cases and is expected to be used in many projects to be deployed soon.

To consolidate its position in the crypto community, members of the PAC team attended the London cryptocurrency show in April, discussing the project and the masternode opportunities.

$PAC is all about social responsibility and active involvement. The crypto project revolves around the so-called four C’s, which refer to the alternative choice, content, community, and charity.

At the moment, the $PAC team and community are keen to focus on the hyperinflation problems of Venezuela’s national currency Bolivar and to help the economic rehabilitation of Cucuta, Colombia.

Currently, Venezuela’s government increases the minimum wage three to four times a year to keep up with the hyperinflation craze. President Nicolas Maduro even launched a national cryptocurrency called El Petro to fight the inflation and monetize the natural reserves of the country. In these conditions, $PAC ecosystem would be like fresh air, as it can act as a great economic rehabilitator with its in-built funding pool for Social Programs. $Pac’s funding pool is perhaps the largest one, as 20% of all newly mined tokens are reaching the pool to be used for marketing, operations, and charity purposes. Besides, the fact that only about 3% of $PAC coins have been mined until today makes the ecosystem relevant in the long-term perspective.

According to $PAC’s plans in Latin America, 300,000 citizens in the city of Cucuta should receive wages in $PAC for about two weeks, which would keep them protected against the never-ending inflation and would help the city rehabilitate its economy. $PAC is much more stable given that it is backed by the value of USD/EUR pair. The team also wants to educate the Colombian population on the use of cryptocurrency and teach English lesson in the country’s schools.

To achieve its goals especially in Venezuela, the $PAC team plans to collaborate with cryptocurrency-oriented project Cashaa. The two entities plan to develop a donation system leveraging $PAC. The system will help people around the world donate their fiat money with zero transaction fees.

However, $PAC is not focusing only on Latin American countries. The project’s charitable initiatives are widespread around the world. Today, the team is helping to improve the quality of life of the people in Detroit by partnering with Reclaim Shoppe. Under the plan, derelict buildings are demolished, and the reclaimed materials are used to develop resell-able products, such as furniture units, pool tables, and even musical instruments.

$PAC is an ecosystem that focuses on real-life services and wants to transform the way we interact. The team’s active involvement in several projects proves the cryptocurrency’s utility and game-changing potential.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of norsez Oh via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite