The Rise of PakCoin and TenUp: Pakistan’s Cryptocurrency Landscape

admin 2 months ago 0 7

If you’re into cryptocurrency, you’ve probably heard about PakCoin. We were keen to learn more about the brains behind this currency and its goals, as it has been strong since its introduction despite a recent prohibition. Fortunately, we were able to contact the principal innovator, Abu Shaheer, who is responsible for Pakcoin’s architectonics. We posed the queries and received intriguing responses. Take a look and have fun.

Pakcoin vs US Dollar

How does Pakcoin work?

Pakcoin is a cryptocurrency mainly targeted towards Pakistanis. Its purpose is to make cryptocurrency use as simple as possible for the average person. When it comes to laws, they can be tailored to the essence that deals with Pakcoin, like the submission of toll reports by corporations that deal with Pakcoins. Businesses are offered a merchant payment system in exchange for adopting Pakcoin, which has no additional fees other than a small transaction fee of up to 0.2 PKR.

Pakcoin today

Pakcoin (PAK) is a cryptocurrency created by Pakcoin. The mining method can be used to earn PAK for users. Pakcoin currently has a supply of 68,594,750 coins. Pakcoin’s last known price was 0.00368764 USD, up 4.24 in the previous 24 hours. There are two active markets for it right now (s), with a total volume of $0.00 traded in the last 24 hours. http://www.pakcoin.io/ contains further details.

Pakcoin now has a live price of USD 0.003675 and a 24-hour trading volume of not available. Our PAK to the USD exchange rate is updated in real time. In the previous 24 hours, Pakcoin has increased by 3.96 percent. With a live market cap of USD 252,114, the current CoinMarketCap ranking is #2205. There are 68,594,750 PAK coins in circulation, with a maximum supply of 182,000,000 PAK coins.

How did Pakcoin come to be?

This blockchain technology intrigued the founder, and when he saw aurora coin (an Icelandic coin) in 2014, he thought to myself, “Why can’t Pakistan have its crypto coin?” he began researching the technology in late 2014, and on May 28, 2015, he released a functioning PakCoin code. After testing the code, the original block (first block) was generated on June 6, 2015. He started everything on his own, with Allah’s aid, and then in June 2015, he launched it on two exchanges, cryptopia.co.nz and yobit.net. In early 2016, additional markets such as novaexchange.com and tradesatoshi.com additional PakCoin on their own.

What distinguishes PakCoin from other cryptocurrencies in terms of algorithm effectiveness, block creation rapidity, and adaptability?

Pakcoin: Pakcoin is a fork of lite coin with minor changes its block period has been reduced to once per minute, making it quicker than lite coin/Bitcoin. Its net supply of 182 million coins, which will be mined in about 99 years. Its difficulty adjustment algorithm, Dark Gravity Wave, is also unique. In terms of adaptability, it currently has enough space for trading and won’t need to be changed.

Tell us about the rate of increase.

Pakcoin: At its debut, Pakcoin was worth less than 0.01 PKR, but it has steadily increased in value, hitting an all-time high of approximately 7 PKR. It is currently worth 0.875 Pakistani rupees, that is still 87 times higher than its original value. Year-over-year, the upswing was 388% to 1823% in 2016-17.

How is PakCoin practically applicable?

Pakcoin: Pakcoin is now accepted by 15 merchants, according to pakcoin.io. Pakcoins can be used as a payment mechanism by anyone. Furthermore, Pakcoin eWallet offers cheap mobile top-ups while using Pakcoins. As quickly as we create an advanced payment mechanism for traders, we will be ready to accept more merchants.

Do you have any angel investors or venture capitalists backing you up?

Pakcoin: There are no angel shareholders in our company or venture capitalists backing us up. We support this project.

What makes a Pakistani individual want to buy PakCoin?

Pakcoin: Pakcoin has gained acceptability in Pakistan, however, it is still extremely limited at present. As we focus on pakcoin’s acknowledgment and appropriation for the citizens of Pakistan, this will grow. As the adoption grows in value, so should its value. It can be used as a speedier, less expensive alternative paying method or as a stake instrument due to its deflationary nature, which means its value will increase with time.

What impact did the ban have on PakCoin?

Pakcoin: There was no ban, but the SBP did issue a warning to banks to avoid working with cryptocurrency firms (SBP restriction on crypto trading). That warning had no detrimental effect on Pakcoin’s value; in fact, Pakcoin’s value increased after that.

What do you think the future of cryptocurrency in Pakistan will be now that the ban has been lifted?

Pakcoin: Because cryptocurrency is decentralized, it cannot be prohibited. Crypto trade would be slower than usual if there was a prohibition, but it could not be stopped. Rather than outright prohibiting it, the higher authorities should manage it. , allowing customers to choose between alternate methods that are not detectable by the government. I propose that the government create its exchange of crypto for Pakistani traders and keep a close check on harmful factors; it would make things more convenient for them than it would be for them after the crypto ban.

Is it still possible to buy and sell PakCoins through individual agents?

Pakcoin: Although there are no ‘agents,’ people trade pakcoins, its trading is done on both foreign and local exchanges, however, because there is no proper information is available on its local trading, I am unable to provide figures.

What about collaborations and listings/integrations?

Pakcoin: the merchants listed on the pakcoin.io website accept Pakcoin. These are not collaborations; however, the traders accept it as a substitute payment mode, with some establishments even offering discounts for pakcoin payments.

What are your ambitions for the future of pakcoin?

Pakcoin: Many things are in the works, including the next phase of the merchant payment system, which can currently accommodate inactive investors. We also intend to introduce our novel online merchant payment method. Moreover, our wallet will receive many upgrades, as well as the latest business platform.

The schemes are not finished yet; we will continue to fight for the ease with which ordinary people may use pakcoin.

Before CBDCs become a reality for the majority of countries, including Pakistan, several data, liability, and privacy issues must be resolved. Central banks, for example, may not want or be able to safely store consumer data. People may be hesitant to invest if they cannot keep their assets private, which is no longer viable with CBDCs. PakCoin’s success will be hampered even more in Pakistan due to the low number of digital payments and the lack of smartphones. Then there’s the question of whether the State Bank has the authority to form a CBDC in the first place.

Despite these obstacles, one thing is certain: the digital renminbi will gain greater dominance over time. Pakistani policymakers should take a close look at the Chinese CBDC because there is a lot to learn. PakCoin may not materialize right now, but in the next five years, it may become a requirement.

TenUp coin

Ten Clever is a project started by Pakistani crypto influencer Waqar Zaka to launch MetaVerse solutions in partnership with NED University of Engineering and Technology Pakistan, which has the greatest AR & VR lab and specialized Ph.D. professionals for this project.

TenUp is a master node-based POS coin as well. TenUp thinks that everyone is gifted with a unique set of skills and that some of those skills are combined with a strong desire to turn their ideas into identities. To give such creative and intelligent minds a boost, TenUp has devised a truly new and unconventional approach. A blockchain-based venture capitalist network that connects ideas with investors willing to put their faith in extremely realistic concepts while also giving the openness and trust that is currently lacking, particularly when distance is involved.

Tenup today

TenUp (TUP) is a digital asset. TenUp has a current supply of 35,333,925.92334331 and is in circulation with 28,477,485.41054746. TenUp’s most recent price is 0.47252281 USD, down -10.97 in the past few hours. It is recently traded on 8 active places, with a total volume of $338,455.03 traded in the last 24 hours. Visit https://www.tenup.io for more details.

The current TenUp price is $0.316757, with a trading volume of $665,035 in the last 24 hours. Our TUP to the USD exchange rate is updated in real time. In the last 24 hours, TenUp has gained 0.65%. With a live market cap of $4,529,759, Bitcoin is now ranked #1319 on CoinMarketCap. The total quantity is 14,300,413 TUP coins, with a circulating circulation of 14,300,413 TUP coins.

What is TenUp?

TenUp Nation is a community-driven platform that aims to assist entrepreneurs in generating cash for their ideas while also assisting refugees and the unbanked around the world. TenUp will achieve these objectives by utilizing the disruptive power of blockchain technology, and unlike other blockchain projects, TenUp is designed to address the needs of a significant and long-overlooked demographic.

Details on TenUp

The avenues that blockchain technology has created are sufficient to alter the dynamics of the traditional economy. We envisage ourselves as a top-notch platform that will become a source of assistance for those individuals and entrepreneurs who have the ability to make a positive difference in the world but lack the basic capital for their startup in the coming years. TenUp’s main goal is to create a community that will assist people in pursuing their passions and receiving support for their ideas and startups, with a particular focus on community mobilization and development.

FEATURES OF THE TENUP

TenUp is a decentralized platform with a variety of interesting features.