CannaCoin runs on a decentralized blockchain platform similar to bitcoin allowing users to send money across the network within seconds. This decentralized network is free of any central authority and follows the core principles set forth by the bitcoin community. The block reward halves every year and difficulty retargets using the kimoto gravity well. The coin is scrypt, block time is 60 seconds, and the total supply is capped at 13.14 million. CannaCoin uses Peer2Peer technology where money can be transferred between two users without the need for a third party. This enables the user to process transactions for the fraction of the cost charged by banks or financial institutions.