Pakcoin is Pakistan‘s first cryptocurrency. It is a decentralized, open source network. Pakcoin allows its users to make quick transactions, which are safe and secure because of the blockchain technology and there are no central servers. Although it was mainly intended to be used by the Pakistanis, the digital currency welcomes everyone. The number of total Pakcoins in circulation will be 182 million. Buying and exchanging PAKs is easy through a bank transfer, EasyPaise or at Cryptopia, YoBit, and other exchange networks. Block time is set at one minute, and miners earn 50 PAKs as a reward. The cryptocurrency was announced in 2015 and was developed by Abu Shaheer who has 16 years of experience in the IT field. He got inspired by Auroracoin to create a digital currency similar to Bitcoin but without the high transaction fees. The first 150,000 Pakistanis will receive 50 Pakcoins for free upon registration. Wallets for the currency are available on PCs, laptops, mobile devices and you can download a paper wallet or an e-wallet. Pakcoin is gaining more popularity every minute, and Abid hospital is the first hospital in Asia that accepted the digital currency as payment.

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