$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Alternative Choice,” $PAC is a rising phoenix – a blockchain-powered coin that has been developed on the ashes of an outdated analog referred to as PACcoin.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.
$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
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
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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.
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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.
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