Pandacoin (PND) is a decentralized digital currency launched in February 2014 as a fork of Dogecoin. Initially starting with a three-month Proof-of-Work (PoW) phase, the project quickly transitioned to Proof-of-Stake (PoS) to promote fairness and decentralization. The absence of an initial coin offering (ICO) or premine on the network further emphasizes these core values.
On May 17, 2021, Pandacoin underwent a significant network upgrade by adopting the Peercoin codebase. This transition introduced numerous modern enhancements and features, bringing Pandacoin in line with contemporary industry standards. As part of the upgrade, the network reintroduced PoW using the SHA-256d algorithm while maintaining PoS functionality.
Key Features and Developments
Since the transition to the Peercoin codebase, Pandacoin has incorporated several new and improved functionalities. Notable enhancements include near-instant synchronization of the Pandacoin client and an inflation counter for transaction fees. The upgrade also paves the way for future development of smart contracts and assets built on the Pandacoin platform.
Despite these advancements, Pandacoin remains committed to its primary goal of serving as a digital currency. To achieve this, ongoing development focuses on creating user-friendly tools and services that facilitate seamless onboarding and reduce barriers to entry for both existing stakeholders and newcomers in the cryptocurrency space.
Pandacoin's development continues with a focus on enhancing user experience and expanding its use cases. The project aims to provide developers and stakeholders with the necessary support to engage with the network and create decentralized, open-source solutions. Comprehensive information about the project, including technical specifications, network updates, and community resources, can be found on the official Pandacoin wiki.