Recreational marijuana and cryptocurrencies have two things in common: governments are very wary of them, and they both enjoy unprecedented public support. The brains behind the Cannation Project (Cannabis Nation Project) had an idea to push for the legalization of industrial use of cannabis. Therefore, Cannation Project CNNC was introduced to play a role in the cultivation, marketing, as well as consumption of marijuana in the US.
Cannation Coin (abbreviated CNNC or C) is a full-fledged cryptocurrency coin mined on a Proof-of-Work algorithm script. While the project’s primary purpose is to ensure that marijuana is legalized in all states, it is pushing to achieve its objectives by helping its supporters earn money to offset the costs of the initiative and to raise funds for its implementation.
Why Legalize Marijuana?
Cannation Coin aside, the Cannation Project embarked on its initiative because there are currently a large number of red tapes that prevent the full legalization of marijuana for industrial use. The company hopes that these problems can be remedied to pave way for commercialization of marijuana, which should lead to more jobs, diverse hemp products, and even stabilization of local state economies.
The company also asserts that:
Legalization of marijuana will reduce harm:
Because criminalization of growing and use of marijuana harms young people of color the most, legalization will eliminate the need for violent and corrupt third-parties that are responsible for most of the harm.
Cannation Coin is a great way for enthusiasts to get involved in the development of marijuana products:
By mining Cannation Coins, marijuana enthusiasts get the chance to line their pockets with spare cryptocurrency money while supporting a cause they believe in.
Creation of more jobs and better laws:
Should all the states adopt the political demands to legalize marijuana for industrial production and distribution, local growers will earn more for their effort. The increased revenue sources will benefit families, communities, and even whole states.
Improved consumer safety:
Because marijuana product testing has grown to become the standard requirement in legalized marijuana markets, consumers are guaranteed access to safe products. This means that a consumer will be better informed about the marijuana product they are interested in before they make a purchase.
The Numbers of Cannation Project CNNC
The Cannation Coin was introduced in 2017. Each mined block rewards 55 coins with the pre-mine amount fixed at 53.9 million. The Coinbase maturity of the coin is 10 blocks with target spacing of 64 seconds and a transaction confirmation of 5 blocks and its mining software is accessible on MacOS, Windows, Linux, as well as Github.
The company promotes Cannation Coins as a product with fast processing times and low fees and a highly secure blockchain implementation. Cannation Coin is listed on many cryptocurrency forums and various cryptocurrency trading platforms.