Hempcoin, the coin especially designed for the hemp industry, has innovated past Bitcoin into cloud storage in their quest to become the main form of currency for their industry. The cloud has proven to be a useful tool for the Hempcoin, and the standard cloud features of anywhere, anytime, any computer, is just the beginning.
Hempcoin with cloud storage has answered cryptocoin’s most serious negative critique—data usage, because the user no longer requires any blockchain data to operate. The cloud handles all of the p2p data transfer. The cloud wallet user is always up-to-date no matter when they joined or how long it has been since their last visit.
The cloud solves another confusing problem for some users, “What is a wallet file?” Using the cloud, the user simply logs into their account to access their Hempcoins. The new HTML5 Hempcoin cloud wallet works exactly like any other popular website, such as Facebook, Twitter, or YouTube.
Gamification and viral techniques are implemented from within the app to promote wider user adoption of Hempcoins among the public. Users can connect Facebook to their account so they can connect with their friends, and share interesting content and competitions, and generate interest through creating a viral social engagement effect.
HTML5 was used to make this a truly cross-platform app that reaches users throughout the world, with no software installation required. Rather than porting code needlessly to support various devices, the wallet can focus its efforts on developing the right features, and perfecting the user experience.
There is definitely accessibility for future expansion, as the cloud wallet base is solid, and is like a content management system, with plugins. Over time, plugins can be created to extend the Hempcoin wallet with new features, created to improve on the industrialization of the internet.
If you noticed that there is a lack of Bitcoin support for iOS devices, it’s because Apple had, until recently, restricted access to any app using blockchain technology. In contrast, HTML5 promotes an open web. A device manufacturer can’t take a negative stance against an HTML5 app and prevent its access. Therefore, the Hempcoin HTML5 cloud wallet works on iOS, Android, BlackBerry, Windows, Macs and other operating systems.
The Hempcoin cloud wallet envisages an exciting future and is taking steps towards being part of an industrial internet, where people and machines are connected to enable change in unprecedented ways. Its use of sensors to communicate between devices and humans improves understandability for everyone involved.
The “hemp” niche attached to the Hempcoin further builds on this industrial internet, as it is an industry-specific coin with a purpose. Farmers, suppliers, retailers and consumers are all connected to the same system with real-time information and updates. Analytical intelligence self-diagnoses and self-corrects to deliver the right information to the right people at the right time.
With this in mind, cyber-security is an important issue. In preparation for immediate growth and expansion, the Hempcoin cloud wallet has been built on Amazon’s secure cloud networking system. This is the same system that Twitter uses to secure their massive network. Not only is this the most secure cloud networking system in the world, it also provides Hempcoin users with excellent data transfer times. Users will enjoy immediate on-demand access.
The Hempcoin uses dual-mining security layers, compared to Bitcoin’s single-mining security layer. The Hempcoin uses the POW (Proof-of-Work) technology like Bitcoin, as well as POS (Proof-of-Stake). POS + POW mining prevents the fatal 51% attack associated with Bitcoin, since it includes mining by stake.
Stakeholders who hold coins for 45 days are entered into a lottery; winning this lottery selects that stakeholder to secure the network and then earn 5% interest for their security help. Coins are then reset to 0 days and must be held for 45 days to stake again. This POS technology is newer than POW so it is trailing behind in technology for mobile apps. The cloud wallet allows for POS ability by removing all technical requirements from the user, and coins are staked by the cloud wallet.
The Hempcoin is not Bitcoin, but it is innovating to become the next Bitcoin. The multi-billion dollar hemp industry is growing fast and will benefit from the Hempcoin as its main currency. This wallet is leading the way with its incorporation of the cloud.
Hemp coins are currently available by trading bitcoins through exchanges. Two of the most popular exchanges are Bittrex and C-Cex.