PRESS RELEASE. PotCoin (Ᵽ) is migrating over from their legacy blockchain to Nexus (NXS). PotCoin has made Nexus their platform of choice, with the confidence that together they will best serve the growing cannabis industry. The recreational and medical cannabis market in North America already accounts for roughly $17.7 billion in 2021 and is forecast to reach 47.3 billion by 2027 , an estimated 44% annual increase. As cannabis continues to be decriminalized and legalized around the world, the potential for economic growth is exponential. After much consideration, PotCoin recognized Nexus as being the best suited platform to support their ambitions in this rapidly growing industry.
“With the huge growth predictions for the industry, we required a platform that could handle future transaction volume. A scalable architecture, DApp development through APIs, the replacement of static private keys with One-Time Signatures (OTS), and use of leading post quantum cryptography were all driving factors in our decision to migrate to Nexus. The $POT community is extremely excited and appreciates the warm welcoming from Nexus. With this partnership and the fantastic tech that is now available to us, we are fully prepared to build out solutions that will change the future of the cannabis industry!” – Josh Inthecity
The migration will take place through a decentralized swap module built for Bitcoin based coins. At which point the PotCoin community will enjoy free transactions using $POT as it was originally intended: a currency for the cannabis industry. The $POT team plans to extend the use of tokens as incentives to dispensaries and as customer rewards.
Future DApp development for $POT includes supply chain management, to verify certification standards and quality assurances, from seed to sale (S2S). The technology will be built with Nexus Assets and Tokens which are easily configurable through the Nexus API….