Cannabiscoin is an open-source peer-to-peer cryptocurrency aimed at easing transactions for legal marijuana purchases and was established in 2014. Cannabiscoin is based on the Bitcoin protocol but was made easier to mine with average computers.
The main feature of Cannabiscoin is a CANNdy system, which allows users of Cannabiscoin (CANN coin) to purchase one gram of marijuana for one CANN token. This was achieved by making an agreement between Cannabiscoin and sellers about growing some marijuana strains specifically for Cannabiscoin that would cost 1 CANN. Sellers also have an opportunity to sell some other strains for CANN, if they find its price acceptable. Cannabiscoin is also developing a tracking system for the coins to have an option of viewing the record of purchases for authorities to insure the legal compliance of the transaction.
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