HempCoin is a cryptocurrency built on the source code of Komodo (KMD) for the Hemp Industry. This crypto coin was one of the first 30 Cryptocurrency Blockchains developed in 2014 and aims to deliver global liquidity to the Agricultural, Farming, and Cannabis sectors.^[1]

Overview

The HempCoin(THC) was among the first 30 currencies developed in 2014 and is a highly focused digital currency built on the source code of Komodo(KMD) for the Agriculture/ Farming industry and Hemp Industry. Its use includes the entire Agriculture/Farming trade business. Upon inception, THC was the only cryptocurrency intended for use in Agriculture which is a trillion-dollar trade business worldwide. The vision remains for THC to help facilitate secure transactional relationships between farmers, distributors, and consumers.

HempCoin (THC) aims to provide a blockchain solution for the Worldwide 1.5 trillion dollars annual Global Agriculture trade utilizing HempTRAC for data, HempPAY for payments, and HempDEX for global hemp exchange (which are important features of the HempCoin platform).^[2]

Features

Explained below are the key features of HempCoin's platform:

HempTRAC

HempTrac is known as the agricultural data Tracking Service that utilizes UXTO Blockchain Technology (which is the amount of digital currency someone has left remaining after executing a cryptocurrency transaction such as bitcoin).

HempTRAC will use UTXO Smart contracts (unspent transactions) to create an auditable ledger for data storage. HempTRAC is easily transferable and independently verifiable.^[1]

HempPay

The HempPay feature is designed to provide a blockchain solution for the Worldwide 1.5 trillion dollars annual Agriculture trade utilizing HempTRAC for data, HempPAY for payments, and HempDEX for global hemp exchange.

Tokenomics

HempCoin (THC) is a cryptocurrency, created on the Komodo platform. Its ticker symbol is denoted as THC and it has a total supply of 258,811,341 THC . HempCoin recorded its latest All-Time High as $5.36 on May 03, 2018, and an all-time low of $0.0001854 22974 on November 11, 2019. Currently, the most active market trading THC is Bittrex cryptocurrency exchange.^[3]

Cryptocurrency Allocation:

HempCoin allocation is detailed in the table below:

Allocated Usage	Allocated percent %
On-Chain Reward = 4%APR, 60 Day Min Lock Time,100k THC Minimum Locked	50%
Staking reward for users holding more than 0 THC that have wallets online	30%
Development reward to further the expansion and operation of THC	20%

Solutions

Since hemp growers are required to provide specific information pertaining to their grows, their labeling, and their daily operations. It is important that this information is stored safely, securely, and processed in a timely fashion. The world of data is getting too large for it to be processed quickly and effectively solely using human methods, as the population grows the problem will expand.

HempCoin (THC) therefore provides a universal solution that will use decentralized networking and data storage to resolve this problem. As earlier described, the HempTRAC feature will use UTXO Blockchain Technology, thus appropriating this solution.^[3]