What is Pranacoin (PNC)? Philosophy.
Today cryptocurrencies have become a global phenomenon known to most people.
Cryptocurrency of the OYF, called Pranacoin (PNC) is a medium of exchange, created and stored electronically in the blockchain, using encryption techniques to control the creation of monetary units and to verify the transfer of funds.
Pranacoin is a fast and comfortable means of payment with a worldwide scope, and it is decetralized, private and anonymous.
Pranacoin funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme.
You don‘t have to ask anybody to use Pranacoin! It‘s just a software that everybody can download for free. After you installed it, you can receive and send Pranacoins. No one can prevent you. There is no gatekeeper.
When your Pranacoin transaction is confirmed, it is set in stone. It is no longer forgetable, it can‘t be reversed, it is part of an immutable record of historical transactions: of the so called blockchain.
Key Facts on Pranacoin
Pranacoin was launched on the 29th of August 2017 by the Open Yoga Foundation (OYF).
Total amount of the Pranacoins ever mined is 5600000. As pre-mining was launched amount of 3900000 PNC.
Our aim & vision. Why using Pranacoin?
The key values of the Open Yoga Community are freedom, self-discovery and cognition of the world acording to the 3 fundamental yoga principles: 1. nonviolance, 2. effectiveness and 3. help to all living beings.
We transfer and popularize the ancient yoga teaching among people all over the world using simple and comprehensible language, educate, train and certify professional yoga instructors, teachers & educators, sustain and develop our open community of practicing yogis, adapt, translate & give commentaries on ancient yoga manuscripts, pubish books with learning material including our unique yoga experience and offer an absolutely free and open source online learning plattform for self-education in yoga, available for everyone who is interested in this ancient, kind and logical self-awareness system.
Pranacoin (PNC) is our internal currency, allowing to maintain and develop all our activities in order to distribute the ancient yoga knowledge in the most effective and repid way.
If you share our worldview, have a wish to participate in this fundamental knowledge turnover, share it with the like-minded people as well as with the whole humanity, support us in our mission or join us, you can just install the pranacoin wallet and keep in touch with our yoga school.
Today you already can pay for yoga lectures, videos, online classes & tutorials, books and other materials in our online yoga shop via Pranacoins.
You can also support our activity by using and / or earning Pranacoins, as you can obtain them for performing some voluntary work (or karma yoga) for the Open Yoga Community, aimed to help people to get to know more about yoga or just to change the world for the better!
As already mentioned we are a rapid developing and growing open community, constantly searching for new unexplored areas of application for Pranacoin!
At the moment Pranacoin is traded on the cryptocurrency exchange: bisq.io
Keep in touch with our latest news!
You are always welcome to join the Open Yoga Community and design your suggestions & express innovative ideas on new Pranacoin implementations!
How it works: Getting Pranacoins
There are 3 main ways of obtaining Pranacoins:
- Mining (see documentation, how to do mining);
- Earning for your volunteer work (karma yoga), participating in one of the Open Yoga Foundation projects;
- Buying Pranacoins on the exchange.
Pranacoin as a cryptocurrency (like Bitcoin) consists of a network of peers. Every peer has a record of the complete history of all transactions and thus of the balance of every account.
After signed, a transaction is broadcasted in the network, sent from one peer to every other peer.
The transaction is known almost immediately by the whole network. But only after a specific amount of time it gets confirmed.
Only miners can confirm transactions. This is their job in a cryptocurrency network. They take transactions, stamp them as legit and spread them in the network. After a transaction is confirmed by a miner, every node has to add it to its database. It has become part of the blockchain.
For this job, the miners get rewarded with Pranacoins. Everybody can become a miner of Pranacoins!