Who, What & WhyAre MOTACOINby Jarrett AshleyJ20
drive popular legacy coins like Bitcoin and Peercoin.In my original article on the subject back in2019 I wrote the following:“Think of MotaCoin as the Bitcoin of the cannabisindustry, but better. Better because its safe, secure,and peer-to-peer. Better because, unlike Bitcoin’soverly inflated fees, MotaCoin’s transaction fees areless than one millionth of a penny. Better, most ofall, because it was actually designed to be what acryptocurrency is supposed to be - currency. Toomany cryptocurrencies have become assets to betraded and speculated on rather than what theytruly are - a giant middle finger to the currentfinancial monopolies.”MotaCoin was created, first and foremost, to solve a problem.The financial burden on cannabis dispensaries and relatedbusinesses has become a massive problem. Banks areeither unable or unwilling to provide banking and digitalpayment processing services to honest licensed canna-businesses,creating a very inconvenient - and franklydangerous - “cash only” situation on the ground for otherwiseupstanding people and entrepreneurs. At its core,MotaCoin is a decentralized digital currency also known ascryptocurrency. For anyone who is unfamiliar with “crypto”,it’s really pretty simple. It isn’t “magical internet money”,although it can admittedly feel like that sometimes. It’screated by a set of rules called a protocol. Each coin canhave a slightly different set of rules, or even slight variationsof existing sets of rules. MotaCoin has basically doneboth. They have solved issues with security AND accessibilityin a unique combination of those sets of rules thatTurns out I was right. The MotaCoin team havecountered one of the biggest complaints hurledat cryptocurrency: functionality. Can it be USED?Well, Mota sure can; and IS. In fact, it's alreadybeing used in a number of shops and dispensariesand even at events like the 2019 Mota Cup! Besidesthat, they’ve solved issues of scalability and accessibilitythat have plagued other crypto projects.Remember those sets of rules? Well, MotaCoinuses a hybrid mining protocol that combines Proofof Work (POW) and Proof of Stake (POS). Proofof Work protocols require a lot of computationalpower to solve “blocks'' and add them to the blockchainand Proof of Stake protocols simply requireusers to hold, or stake, coins on the blockchain.The new hybrid consensus used by MotaCoingreatly increases the integrity and reliability of theblockchain by adding in critical safeguards toblock against double spending attacks. The networkis ultra secure and lightning fast, providingusers an easier and safer way to make transactionswithout the need to collect personal information.I know it can sound like another language sometimesbut the important things to take away arethat it's here to stay, its ultra-secure, and when itcomes to spending it, it's no different thanmaking an online purchase with a digital creditcard or sending a Venmo with the scan of a QRcode - only decentralized, faster, and infinitelymore secure then either. MotaCoin is definitelymaking waves, not only in the cannabis industrybut in the crypto space as well - and it shows.In the short few years that have passed since I wasJ21
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