PWRC
PWR Coin
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PWRC
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About PWR Coin
PWR Coin, initially branded as Powercoin with the ticker PWR, is a cryptocurrency aiming to provide an alternative payment method for online shopping. Released on May 18, 2016, it utilises a hybrid model of both proof of stake (PoS) and proof of work (PoW) based on the GPU-mined NIST5 algorithm. This hybrid model was designed to make mining accessible for users with GPUs, compared to Bitcoin's ASIC mining. PWR Coin is primarily used as a payment method for e-commerce platforms. The development team created PWR PAY, a plugin allowing online stores to accept PWR Coin as a payment option. Initially launched for WooCommerce/WordPress, PWR PAY facilitates seamless transactions with low fees. The plugin plans to expand to platforms like Shopify, Magento, Opencart, Prestashop, and Zencart. It also benefits installers by enabling staking rewards on wallet balances, adding profitability for e-commerce sites that implement it.
PWR Coin, initially branded as Powercoin with the ticker PWR, is a cryptocurrency that aims to provide an alternative payment method for online shopping. It was first released on May 18, 2016, utilising a hybrid model of both proof of stake (PoS) and proof of work (PoW) based on the GPU-mined NIST5 algorithm. This hybrid model was intended to make it accessible for users to mine the coin using GPUs, compared to the ASIC mining of Bitcoin at the time.
PWR Coin is primarily designed as a payment method for e-commerce platforms. The development team created PWR PAY, a plugin that allows online stores to accept PWR Coin as a payment option. Initially launched as an extension for the WooCommerce/WordPress platform, PWR PAY aims to facilitate seamless and rapid transactions with low fees. The PWR PAY plugin plans to expand to other e-commerce platforms such as Shopify, Magento, Opencart, Prestashop, and Zencart. This plugin also provides benefits to the installer by enabling staking rewards on balances stored in their wallet, thereby adding a layer of profitability for e-commerce sites that implement it.
PWR Coin was taken over by a new development team in March 2018 after facing significant challenges under its original management. The new team decided to rebrand the coin and revamp its codebase to address various issues, including hyperinflation and technical glitches. The core team consists of several key members, who use pseudonyms, with extensive experience in IT, blockchain development, and marketing:
- Disaster Faster: Project Coordinator/Front-End Developer/Marketing, with over 35 years of experience in IT and a background in big data systems from his time in the US Army.
- Plainkoin: Blockchain Developer/Infrastructure Specialist, specialising in core wallet development and decentralisation via seed node creation.
- ghobson: Crypto Developer/Infrastructure Support, with expertise in systems integration and data storage technologies.
- jmcadg: Graphic Designer, responsible for the new website and marketing materials.
- Andemang: Data Analyst/Research/Statistics, with a background as a government scientist and multilingual skills.
- LMG: Content Development/Media Specialist, focusing on literature, grammar, and creative writing.
- Diwata: Social Media Manager, with extensive experience in marketing analytics and customer service.
Although 'PWR' was the ticker assigned at the deployment of the PWR Coin Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'PWRC' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.
