The first Polish virtual currency is Polcoin (PLC). It was founded in January 2014 as a clone of Bitcoin, which was gaining popularity at the time. It uses the same SHA256 algorithm as before and the proof type is 'Proof of Work (PoW).
It is currently an entirely Polish project, with just a Polish team of creators and cash participating. The third team of developers is now working on it. A new blockchain underpins the resurrected Polcoin project. The Polcoin network is stable, and engineers are attempting to improve it.
POLCOIN has a market capitalization of $71681 USD. It has a circulating supply of 129433 995 PLC at the moment.
Polcoin's value as a cryptocurrency and its reliance on the banking system
POLCOIN (PLC) is currently trading at $0.0009, representing a 280.9 percent price change over the previous 24 hours on a $4 trading volume.
POLCOIN hit a new high of $0.02 on November 14, 2021. In comparison to the current pricing, this represents a savings of about 95%. For roughly $100, you may get 110077.4577 PLC, which is worth $1986 at ATH.
According to the assumptions, Polcoin's value should rise in the long run as a result of the system's strict supply limits combined with a growth in demand. The increased knowledge of cryptocurrencies and their utility is another cause for increasing the rate of currency value growth.
This is the first and most significant distinction from banking systems, where transaction logs are one of the most extensively scrutinized data.
The auditor for Polcoin is the Polcoin community, as it is not issued by an organization linked with any state agency.
Polcoin as a payment method
Polcoin Currency is already being utilized as a form of payment, despite the fact that it only exists in the virtual world. Polcoins are now accepted in a stationary store in Manhattan, Szczecin, as well as various online stores. From here, we urge interested businesses and individuals to contact us to discuss a possible payment implementation strategy. We have a payment module for the PrestaShop online store engine as the sole firm in Poland.
Anyone holding a polcoin address can easily become the owner of it. Downloading any version of the polcoin network client is sufficient for this purpose. Synchronization with the network will take place shortly after the client is started, and a unique address will be generated for the entire network. This address is where you can send money.
Because each company and each natural person can have an endless number of addresses for making and receiving payments while keeping anonymity, there is no distinction between companies and individual accounts in the Polcoin network. A unique pair of sender and recipient addresses should be used for each transaction, according to the Bitcoin network manifesto (and don't forget that Polcoin is based on the greatest features of the Bitcoin network).
The project is currently being developed by the third group of developers. It is made up entirely of Poles who labor for the idea and are backed by Polish funds.
The third team's accomplishments include the complete restoration of the blockchain formation process, the implementation of a client for the Android mobile platform, and the initiation of a marketing campaign aimed at promoting Polcoin in the Republic of Poland and around the world via the Internet.
The Polcoin development team also maintains the following services in addition to maintaining the source code for the currency.
The Polcoin team is made entirely of Polish managers and developers who ensure that the network of nodes remains stable. They believe that, in the same way, that the Polish Zloty (PLN) can exist in the shadow of the Euro (EUR), Polcoin may exist in the shadow of Bitcoin.
To learn more about Polcoin or PLC, visit their website on https://polcoin.pl/
Cryptocurrency trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.
You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.