CannabisCoin is the payment solution for marijuana dispensaries, retailers and merchants and is backed by marijuana where it is accepted. CannabisCoin represents real medical marijuana specifically designed and grown by the “CannabisCoin Marijuana Cultivators“. These specific marijuana strains are to be bought and sold exclusively with CannabisCoins.
CannabisCoin was first released on 20 April 2014 with a Scrypt hashing algorithm. About 21.8 million CannabisCoin was mined until the developers decided switch the Scrypt hashing algorithm to X11 with KGW. A hard fork was implemented and a premined 1st block on X11 was created to conduct a buyback program of Scrypt mined coins to the new X11 algorithm.