$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Alternative Choice,” $PAC is a rising phoenix – a blockchain-powered coin that has been developed on the ashes of an outdated analog referred to as PACcoin.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
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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