With the rise of the hottest cryptocurrencies in recent years, most industries are capitalizing on the convenience and security it offers, including the cannabis industry. Especially with issues in transactions involving legal marijuana using banks, cannabis-based digital currencies has changed the market.
Cryptocurrencies have made it easier for the cannabis market to connect with each other without the need for third-party services; whether it’s for smokers looking for cannabis-based products or suppliers trying to connect with local farmers.
So, what are the hottest cryptocurrencies in the cannabis world right now?
- PotCoin (POT)
PotCoin is a huge name in the cannabis world since it was first launched in 2014, making it one of the hottest new cryptocurrencies in the industry. It was one of the earliest cannabis-based digital currency.
PotCoin was mainly designed to help answer banking problems for people who want to do a transaction in legal marijuana. Instead of involving banks, trading PotCoin uses a peer-to-peer technology that connects people directly to each other and without any third-party involvement.
PotCoin trades on three large markets and has also transitioned to a proof-of-stake technology that allows mining and blocks transaction validations depending on the number of coins one has.
- DopeCoin (DOPE)
In February 2014, Adam Howell, who is more popularly known as Dopey, founded DopeCoin. Although there is very little known information about this digital currency, according to its website, the primary aim of this currency is to provide a modern and more secure way for marijuana enthusiasts to do business. Also, based on its website, DopeCoin can be used to transact anonymously in less than a minute without any transaction fee to speak of.
- CannabisCoin (CANN)
Also developed in 2014, CannabisCoin has become one of the hottest cryptocurrencies in the cannabis industry at the moment. It is a peer-to-peer and proof-of-work open-source digital currency that was designed to help ease and simplify the transactions done by medical marijuana dispensaries.
- CannaCoin (CCN)
CannaCoin has become one of the hottest cryptocurrencies right now in the cannabis world since it was launched back in 2014. It runs using Peer2Peer technology in a decentralized blockchain, which aims to simplify and offer convenience when it comes to cryptocurrency applications in terms of cannabis production and everything in between.
- HempCoin (THC)
HempCoin is also launched in 2014, although this digital coin’s focus is mainly for use by recreational and medical dispensaries and the farming industry instead of individuals looking for a more secure, safe, anonymous, and overall convenient way to buy weed. HempCoin can be used to facilitate transactions between local dispensary shops and marijuana farmers.