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PACcoin (PAC) Solving Master Node Issues
PACcoin, PAC, had a pretty turbulent couple of weeks, both highlighted with ups and downs. Although most of January 2018 was pretty rough on the majority of currencies, the redemption came crawling with the beginning of February when most of the currencies were rising back up and covering losses.
That wasn’t the case for all currencies during the third week of February 2018 when most of the digital currencies suffered from great losses in price. PACcoin had a pretty amazing February although it had its ups and downs, however, what could represent a highlight of February for this currency comes in form of a major issue this coin was having – we didn’t say it was a good kind of highlight.
PAC: Master Node Issue and Redemption Address
PACcoin had a pretty good month back in February, starting from the 5th when many other currencies started to experience benevolent changes in price as well. The last week before March including the first couple of days that introduced us to the new month also did wonders for PAC as this currency marked a total growth of over 48% of rises against the dollar.
It is generally thought that PAC went through this amazing positive change in its price thanks to the latest successfully solved issue this currency had with its master nodes operating within their decentralized ecosystem.
In case you are not certain what the purpose of master nodes is (which could probably be the case if you are new to the world of blockchain technology), you should know that master nodes serve the purpose of providing unique functions like fast and secure transactions. This fact kind of makes master nodes a heart of the blockchain system.
Master nodes take a lot of power in order to run and that is precisely why their functioning is possible through decentralized networks. Since power costs money and you need power in order to run master nodes, decentralized blockchain platforms have found a way of powering up these important assets with a network of personal computers.
That is how most blockchain networks are rewarding miners and users with incentives for getting power for running the system in return. This is both effective and cost-effective, so it’s a win-win situation.
So, you can probably tell that having issues with master nodes, like PAC did, also results in having further problems with the way payments are processed within the network. This was precisely the case with PACcoin a little while ago.
In order to solve their problem, they have come up with a solution in form of redemption address. The redemption address, however, had some problems with actually addressing this issue. One of the main problems was the case with spreading fake addresses across social media networks, so PACcoin had to find another solution.
Eventually, they have managed to put this problem at ease by making sure that all users and coin holders can provide their ID in form of validation key. With this validation key, any user experiencing further problems with payments can get a refund in case something goes wrong with their transaction.
Do you think this problem has truly and fully addressed the problem PAC was having?
We’ll see.
For now, the developers of PACcoin are working on PAC redemption, which ought to solve all existing problems current users and holders are having with PAC.
PACcoin’s Price
This is a very strange case, so we wanted to address it and put it in the first plan for a couple of minutes. So, if you go ahead and for example, you get to Google search and you want to check how your favorite coin is doing at the moment, you can just type in the name of your coin and get all the info you need.
Let’s say that the coin you want to check is Po.et (POE) and if you type in “Po.et price”, you will find out that the current price on March 3rd for this coin is: 0.0553$ on Coin Market Cap, 0.0550$ on World Coin Index and 0.0541$ on Bit Screener. You can tell that there’s a difference in these prices on different coin markets, but you can also tell that the difference in price is not that big.
However, if you try to track the price of PACcoin (PAC), you will get to see this:
Price of PAC on Coin Market Cap marks at 0.000038$, without further information on the recent change in price as it is always the case on CMC. Price of the same coin and on the same day on Bit Screener is marked at 0.0000377$ per one unit, which is not that far from CMC result. However, the same coin costs 0.00006250$ with the latest change in price marked at over 130% of growth and trading in the green.
On World Coin Index, you can find completely different information on PACcoin. The price on WCI for PAC is the highest we’ve come across when it comes to trading PAC, and the price is marked at 0.00011472, but it is shown that this coin is trading in the red with -99.39% fall in its price.
The massive differences in price for PAC are thus pretty disputable.
However, this strange case might be just a temporary state until PAC gets its redemption and starts working with improved technology.
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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.
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