What is PWR Coin?

PWR Coin is a hybrid cryptocurrency that utilizes both Proof of Work (POW) and Proof of Stake (POS) mechanisms. It is based on the NIST5 algorithm, which aims to allow for efficient mining and staking. PWR Coin strives to provide a solution for e-commerce transactions, aiming to offer a payment gateway for online stores worldwide. The coin's design seeks to allow for transaction times and lower transaction fees, potentially making it a choice for e-commerce applications. PWR Coin's supply is currently around 9.9 billion, with the potential for gradual increase due to its POS and POW mechanisms.

How does PWR Coin work?

PWR Coin operates through a hybrid system that combines Proof of Work and Proof of Stake mechanisms. This dual approach allows users to generate PWR either through mining or staking. The coin's NIST5 algorithm is designed for efficient mining, typically done through a graphics card (GPU) and often in conjunction with a mining pool. On the other hand, staking involves holding coins in a wallet, keeping it operational, and unlocking it for staking. The annual staking rate for PWR Coin is 1% or less, with a maximum payout of 100 coins per block.

What are the potential use cases for PWR Coin?

PWR Coin seeks to serve as a payment gateway for e-commerce stores. It aims to provide an intelligent solution for online store owners, particularly those with small volume shops who may struggle with high fees associated with common online payment methods. PWR Coin, in conjunction with the PWR Pay plugin, can be implemented as a payment option at online stores. Moreover, instead of incurring fees, shop owners may receive compensation from staking on their store wallet balance. The coin's lower transaction fees also make it an option for online shoppers.

What is the history of PWR Coin?

PWR Coin was initially released as Powercoin in May 2016. However, a DMCA takedown at Github in August 2016 led to a downturn for the coin. In March 2018, a new development team took over, rebranding the coin as PWR Coin and relaunching it with a new digital footprint and exchange listing. Since then, the coin has undergone several developments, including the release of a new website, roadmap, white paper, and wallet. The team has also made strides in marketing and branding, with new market cap listings and exchange listings. The PWR Pay plugin for targeted e-commerce platforms was released.