What is BitCanna?
BitCanna is a proof-of-stake
(POS) decentralized payment network and utility token (BCNA). Designed from the ground up, BitCanna exclusively serves the cannabis industry. Plagued by outdated legislation, the cannabis industry lacks payment options for consumers and businesses. BitCanna aims to legitimize this developing industry, offering secure transactions—via desktop or mobile—without prejudice.
While the payment network makes up the bulk of BitCanna's operation, the supply chain and trust and reputation layers provide scalability and functionality beyond that of conventional cryptocurrencies.
Version one of the BitCanna blockchain is live, alongside mobile (Android & iOS) and desktop wallets. Over 382 million tokens are currently in circulation, with users able to purchase BCNA tokens from various crypto exchanges. Selected BitCanna partners are also accepting BCNA tokens at checkout.
How can I use BitCanna (BCNA)?
tokens allow you to buy and store—via the BitCanna wallet—and stake for rewards. By participating in the network, you'll not only earn tokens back but have a say in the development of the network if you run a masternode.
The layered BitCanna model also promises increased functionality. The supply chain layer includes product monitoring, track and trace, and quality control. The trust and reputation layer will cater to both businesses and consumers, providing advertising space, a loyalty program, and a rating system.
Who founded BitCanna?
The BitCanna initiative was founded in 2019 by Boy Ramsahai. With a background in the European cannabis industry, BitCanna is a way to move the industry forward, overcoming a lack of trust from legislators, regulators, and governing bodies.
The core team's combined experience gives them the perspective required to understand and solve issues facing cannabis consumers and businesses. The companies involved come from both e-commerce and high-street backgrounds, with Royal Queen Seeds and Zamnesia being the first partners to accept BCNA tokens at checkout.
BitCanna vs other Cryptocurrencies
Although BitCanna takes inspiration from the Bitcoin
blockchain network, there are several distinct features. The BitCanna network operates on a proof-of-stake census, relying on its users to maintain an active and healthy blockchain.
The proof-of-stake model also allows a greater level of governance from its users. Regular node owners receive a reward for taking part in the network, while masternode owners can contribute to the network's development, voting on future features. The greater a user's stake in the network, the more significant the reward.
In total, the BitCanna network will comprise five separate layers. Layer one is the core protocol, providing a decentralized network (typically what you'd find with other cryptocurrencies). However, BitCanna offers increased scalability, expanding functionality with each layer. Layer two is the immutable public ledger, layer three the supply chain platform, layer four, trust and reputation, and finally, layer five—the application layer.
By developing each layer sequentially, BitCanna can balance development costs and decisions without affecting basic functionality. The network remains active, growing with each new user.
Can I earn money with BitCanna?
You can only buy, withdraw, and use BitCanna. It's not possible to sell BitCanna. The goal is not to trade but to use BitCanna to purchase cannabis products.