$PAC - The People's Alternative Choice is a third generation cryptocurrency that aims to become the world's first community governed digital currency. Focusing on four key factors:
Community | Charity | Content | Choice $PAC is a community driven successor to Bitcoin, incorporating various improvements such as a two-tier incentivized network, known as the Masternode network. The major aim of $PAC is to become the most efficient and user-friendly cryptocurrency that is available globally. Our network features double send proof transactions and transaction history that is erasable in terms of receiving funds. $PAC works using the principle of decentralization with the community as the face of the coin.
OUR HISTORY $PAC is the natural successor to PACcoin which was created in 2014 based upon then-current technologies. Initially, it enjoyed a brief success as a traded cryptocurrency. However, over the years, the coin was not maintained or upgraded; subsequently it quickly fell to the bottom of the list of the 1,200+ different cryptocurrencies on the market. PACcoin remained stagnant until August 2017, when a new community-based management team committed to re-establishing the coin. In November of 2017 aspects of the code were upgraded to offer new PACcoin wallets on PACcoin’s updated website. By the end of November 2017 PACcoin registered its first measurable market cap of $1,885,638 USD. During PACcoin’s relaunch, over 30,000 new PACcoin wallets were downloaded and Cryptopia, PACcoin’s most dominant exchange, had over a million new registrations.
MAIN IMPROVEMENTS $PAC has launched with a total reduced supply, providing a whole host of benefits. The old total supply of 100 trillion PACcoin has been reduced via an RCO (Redemption Coin Offering) offering one new $PAC for each 1,000 old PACcoin, with each new $PAC worth 1,000 times the original PACcoin. This has reduced the total supply to 100 billion with 3.5 billion in circulation. The amount of data in the blockchain has shrunk dramatically, resulting in wallets syncing faster and allowing the chain to be more easily installed across the globe.
One of the measures that $PAC’s team are taking is moving away from the SHA 256 Platform and adopting the X11 Platform, first introduced by Dash. The x11 platform will allow completely anonymous transactions in as little as under two seconds. Instead of hashing only one algorithm, with SHA256, the x11 platform hashes 11 different algorithms simultaneously, which reduces the amount of computing needed to mine or transfer data. In addition to the X11 platform, PAC will also be utilizing masternodes, another concept made popular by DASH.
OUR PLATFORMS Paclyfe Improving the technological aspects of $PAC is merely the foundation of the $PAC story, the team plans to re-focus the mission of $PAC to become a truly community-based cryptocurrency, evidenced by the new name already adopted by the $PAC community: The People’s Alternative Choice. $PAC is continuously developing new features to a community-based social media platform called Paclyfe. Paclyfe encourages coin holders to communicate with each other without any language barriers.
$PAC medium of exchange Paclyfe is not just a social communications vessel. It is an online marketplace for the $PAC community to provide real world products and services in exchange for $PAC. Paclyfe is the Fiverr.com, eBay and Kickstarter of the cryptocurrency world. We aim for Paclyfe to become a platform where private projects are voted on and funded entirely in $PAC.
Decentralized Governance by Blockchain allows the community to be involved in the decision-making regarding projects related to $PAC. Masternodes are the main actors in the governance process, they can create new proposals and vote (yes/no/abstain) on existing proposals. Each time a block is generated,
45% of the block reward goes to the Masternode network,
35% goes to the miners and then, once every 16,616 blocks (approximately 30.3 days) a ‘Superblock’ is generated containing the remaining
20% of the monthly profits.
15% contributes to payouts to the proposal winners of the previous cycle, shaping future projects and partnerships for the coin. The remaining
5% will be donated as part of our many Charitable initiatives, again voted on by the community. For a breakdown on how the proposal process works, please refer to the
white paper.
Coinlyfe Coinlyfe is the Ebay, Paypal, Google, LinkedIn and Coinmarketcap of the crypto world. A social network, unifying information seekers, investment opportunists and public influencers, with $PAC as a currency holding the platform together. Coinlyfe will provide a communications vehicle for user driven content. Whilst acting as a hub of credible information for the whole cryptosphere that becomes indexed in the major search engines. Users will be able to price check, inform, search, acquire and absorb cryptocurrency in its entirety.
Coinfyle Coinfyle will be a secure online platform for buying, selling, transferring, and storing digital currency. Coinfyle's mission will be to create an open decentralized financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currencies.
Coinfyle will be put out for an RPF (Request For Proposal) process to potential investors to ‘propose’ a solution for the $PAC community. The premise is to have a solution that will be built by the best in the industry and hopefully be partially owned by the $PAC economy as well. Fees on this system will be in $PAC and will be the lowest in the industry.
Pac.media Alternative news is a major component of the world today. Suppressed news, fake news & censorship litters the landscape and people don’t know what to believe anymore. The internet has fueled a movement of alternative news and content where anybody can promote content they believe in. These smaller providers depend on getting paid from these big ad networks that constantly change the rules on how they get their income. These smaller providers cannot compete with the larger media outlets money interests. They are missing their own brand affiliation.
PAC.media will unify alternative news into one system, where the content providers will OWN their advertising platform and their future revenue stream, that will be paid in $PAC.
