A brief introduction:
Pandacoin Pandacoin was launched in February 2014, originating as a fork of Dogecoin. It started with a brief Proof-of-Work phase that lasted only three months before transitioning to Proof-of-Stake. The project was established with the principles of fairness and decentralization at its core, aiming to create a fair, decentralized digital currency without the need for central authority. This dedication to core values resulted in the absence of any ICO or premine on the network.
On May 17, 2021, Pandacoin underwent a significant network transition, swapping to the Peercoin codebase. This upgrade brought a multitude of modern enhancements and added feature opportunities, bringing Pandacoin up to the current standards of the cryptocurrency industry. The upgrade also reintroduced Proof-of-Work using the SHA-256d algorithm, while retaining Proof-of-Stake.
What’s happening?
As of May 17, 2021, Pandacoin operates on the Peercoin codebase, providing new and improved functionality across various aspects of the project. Key improvements include near-instant synchronization of the Pandacoin client and an inflation counter for transaction fees. This change also opens the doors for future development in the realm of smart contracts and assets built on Pandacoin.
Despite these upgrades, Pandacoin remains focused on its core goal of serving as a digital currency. The development of useful tools and services is underway, aimed at making the onboarding process easier and reducing barriers to entry for both existing stakeholders and newcomers in the cryptocurrency space.
Going forward
The development of Pandacoin is ongoing, with a focus on enhancing user experience and increasing its use cases. The aim is to provide developers and stakeholders with the necessary support to create and engage with the network in a decentralized and open-source manner. All relevant information about the project can be found on the official Pandacoin wiki.