FAQ

What is Pandacoin (PND)?

The Origins of Pandacoin (PND) stem from the the great need to counter the manipulation we see taking place all too often within the crypto-currency community. Pandacoin (PND) was created as a solution to this problem and provides a platform designed to resist these manipulative forces. The original goal of Pandacoin (PND) is to bring honesty, integrity and a strong sense of community into the ever-growing world of crypto-currencies. The Panda is a symbol of peace, positivity and compassion. It is these traits that we feel are most important in the development of a successful crypto-currency.

In order to achieve these goals, Pandacoin (PND) was built to have a fair launch with no insta/fast/premine with absolutely no IPO. We believe these features, in addition to being the only 100% PoS coin with more than 3 months of a PoW distribution phase, will allow Pandacoin (PND) to grow in the most fair and sustainable fashion as possible.

The founders, developers and architects of the Pandacoin Project have sought to make Pandacoin (PND) a crypto-currency that is geared towards use of the coin to bring liquidity to commerce interchange as opposed simply be another abstract commodity. Many new alternative crypto-currencies are simply 'yet another' micro commodity with no vision beyond that with an attempt to derive value into an abstract commodity through complex regulations of minting of coin(s). These coins do not seek any utility beyond becoming an alternative form of commodity. Pandacoin (PND) is different - it is designed from the ground up to be used as a currency, not a commodity. The Pandacoin (PND) development team will deveop services, applications and content to ensure Pandacoin (PND) would be used as a form of currency.

The Pandacoin (PND) development team aims to bring the entire crypto-currency market forward by adopting a philosophy of simplicity and ease of use in order to lower the current perceived high barriers of entry to the world of crypto-currency by the mainstream public. We endeavor to redefine the space and become the gateway crypto-currency and reach as much of the mainstream population as possible.

To find out more, have a read of our official statement regarding the Pandacoin (PND) development team's vision for the coin, which direction it is headed, and a sneak peak at what developments the community could expect from the development team in the near future -

http://thepandacoin.org/vision.pdf

Simplified Chinese translation: http://thepandacoin.org/vision_cn.pdf
Traditional Chinese translation: http://thepandacoin.org/vision_hk_tw.pdf

How long has the PoW phase been running so far?
Pandacoin (PND) had begun their PoW phase since Feb 16, 2014 and has been mined for 95 days. Pandacoin (PND) is one of the rare PoS coins with such a long PoW phase, a duration of more than 3 months, to distribute the coins fairly out towards the community.

What will the maximum number of Pandacoins (PND) be?
Not fixed nor limited when we switch over to PoS. We switched to PoS when 32,000,000,000 Pandacoins (PND) are mined, which marks the end of the approximately 3 months of PoW phase.

How could I start PoS staking when it rolls out?
You will have to download our new wallet, have it unlocked and leaving your wallet open with an online connection to start staking!

Can I still mine Pandacoin (PND) directly with my mining rig?
With Pandacoin (PND) as a pure PoS coin, you would not be able to mine it directly. Instead, you will mine other alternative crypto-currencies and exchange them for Pandacoin (PND) through our ever growing mhs multipool. This way, you will be able to still mine Pandacoin (PND) from the multipool, and help increase the value of Pandacoin (PND) at the same time.

Website: http://multi.pandapool.info

Subreddit: http://reddit.com/r/multipanda
Bitcointalk thread: https://bitcointalk.org/index.php?topic=552464.0
Email: admin at pandapool dot info

How does the Pandacoin (PND) multipool work?

The Pandacoin (PND) multipool automatically switches between coins to mine based on difficulty and price variations in order to be as profitable as possible for the miners. For payout, the multipool computes the proportional share of each miner over rounds that last four hours. Once a round is complete, and after the mined blocks become mature, the multipool exchanges all coins for Pandacoin (PND). Please note that due to the time required for block maturation, deposits and withdrawals on exchanges, payouts for a round are processed one hour after the end of the next one. The multipool also apply a fee of 1.25%, in addition to the exchange and transactions fees required by the operation

Why implement Proof of Stake?

The Pandacoin (PND) development team are keen to keep up with technological innovations in the alternative currency space in order to remain relevant and have a viable and successful future that is in line with our vision for the coin. We, the developers, as a team often take a collaborative approach to Pandacoin (PND), by interacting and taking feedback from our community on what they wanted to see for the coin in the future. As such, we recently held a poll the Pandacoin (PND) community to vote on either switching to PoS from PoW or have Merged Mining with Dogecoins.

The poll concluded and the Pandacoin (PND) community has voted in favor of PoS (url of the community poll: https://bitcointalk.org/index.php?topic=572462.0).

Proof of Stake is confusing me. Is there a Proof of Stake FAQ?

Yes there is, to find more about how Proof of Stake works, please visit our Pandacoin (PND) Proof of Stake FAQ:

http://thepandacoin.org/doc/pos_faq.pdf


Useful Information and Links

Social

Homepage: http://thepandacoin.org
IRC: #PandacoinPND on freenode.net

Twitter: https://twitter.com/PandacoinPND
Facebook: https://www.facebook.com/Pandacoin.PND
Reddit: http://www.reddit.com/r/PandacoinPND

Weibo: http://weibo.com/pndcoin
Chinese QQ group: 255237866

Pandacoin (PND) IRC Lotto Faucet now available

We have implemented a Pandacoin (PND) IRC Lotto Faucet system, where you can type the following commands on our irc channel every 24 hours for a chance to win up to 10 million every 24 hours Pandacoins (PND): !lotto !panda or !gimme

It works by a lotto system, where you get one try every 24 hours:

Normal payouts = 300-500 PND
1/10 chance = 1,000 PND
1/100 chance = 10,000 PND
1/1,000 chance = 100,000 PND
1/10,000 chance = 1 million PND
1/100,000 chance = 10 million PND

So join us on #PandacoinPND at freenode.net to try out the Lotto-Faucet commands !lotto !panda !gimme, have a chance of winning up to 10 million Pandacoins (PND) and chat with the other Pandas from this awesome community!

Wallet

v2.0.2
http://thepandacoin.org

Alternative hosts
mega
uploaded

If you would like a fresh list of nodes for your conf, see
http://bamboohouse.info/pandacoin.conf

Mining

See above FAQ under 'Can I still mine Pandacoin (PND) directly with my mining rig?' and 'How does the Pandacoin (PND) multipool work?'

Exchanges

https://mintpal.com/market/PND/BTC
https://mintpal.com/market/PND/LTC
https://www.swisscex.com/market/PND_BTC
https://www.swisscex.com/market/PND_LTC
https://www.swisscex.com/market/PND_DOGE
https://allcrypt.com on BTC, LTC and DOGE markets
https://swaphole.com BTC and LTC markets
https://xnigma.com/markets/view/59
https://coinedup.com/OrderBook?market=PND&base=BTC
https://www.rapidcx.com/exchange/pandacoin

Upcoming exchange LazyCoins has stated PND will be listed!

Help PND get on Cryptsy! https://www.cryptsy.com/coinvotes

Services

Merchants
http://coinpayments.net Merchant tool used to accept payments in PND
http://www.zazzle.com/pandacoin PND related merchandise

Blockchain Explorer
http://pnd.showed.us Blockchain Explorer #1
http://pandachain.net Blockchain Explorer #2

Faucets
https://pandapool.info/index.php?page=faucet Faucet
http://bamboohouse.info/index.php?page=faucet Faucet
http://pandacoin.altcoinfaucet.net Faucet
#PandacoinPND Pandacoin (PND) IRC Lotto Faucet

Misc
http://pndaddress.org Open Source JavaScript Client-Side Pandacoin Wallet Generator
https://pnd-dice.com PND dice gambling
http://1dash.net User-defined dahsboard for general charts/countdowns, accepts donations in PND
http://crypto-prices.com/PND Monitor PND prices in fiat
https://www.cryptonator.com/widget  Customizable and installation-friendly price and calculator widgets

Pandacoin (PND) Chinese communities

Some PND friends are spreading the word in the land of the panda!
https://bitcointalk.org/index.php?topic=484555.0 PND熊猫币，真正熊猫币，0预挖，拒绝圈钱 [显卡币][KGW]

http://weibo.com/pndcoin (155+ followers)
QQ group: 255237866 (270+ active members)

Charities

PND4PND (http://pnd4pnd.com), the first Pandacoin (PND) charity initiative, had been created by a dedicated and awesome community member! Let's show our support and feel good by donating PNDs to a choice out of 4 different charity organisations!

It is a unique concept in that all donations made now will be held and only released to the chosen charity organisations until June 1st, 2015.

The charity wallet will be on a transparent and public address, managed by the Pandacoin (PND) development team. Read more about it and the chosen charity organisations here: http://pnd4pnd.com

PND4PND Charity 1 - WWF (official website: http://wwf.panda.org/)

Donation address: PNWLTA6tANL7waXUBt6rHYVgBwvpmtdu3c
http://pandachain.net/address/PNWLTA6tANL7waXUBt6rHYVgBwvpmtdu3c

http://pnd4pnd.com/koken/storage/cache/images/custom/chengduQRcn-png/huge.png?1399402692

PND4PND Charity 2 - Chengdu Giant Panda Breeding Research Foundation (official website: http://www.panda.org.cn/china/)

Donation address: PFfzRE4NVAQrx9gMkFogjHcBXhbQzesL5r
http://pandachain.net/address/PFfzRE4NVAQrx9gMkFogjHcBXhbQzesL5r

http://pnd4pnd.com/koken/storage/cache/images/custom/earthwatchQRcn-png/huge.png?1399402741

PND4PND Charity 3 - Earthwatch Institute (official website: http://earthwatch.org/expeditions/on-the-trail-of-giant-pandas-in-china)

Donation address: PTFvBkEQY9si5ScK26PkcwbKHtS6b1axmN
http://pandachain.net/address/PTFvBkEQY9si5ScK26PkcwbKHtS6b1axmN

http://pnd4pnd.com/koken/storage/cache/images/custom/ISISqrcn-png/huge.png?1399402778

PND4PND Charity 4 - ISIS (official website: http://www2.isis.org/Pages/Home.aspx)

Donation address: PGsEpNxEBVRaJ659ddCnUxALHWNJoBTSGU
http://pandachain.net/address/PGsEpNxEBVRaJ659ddCnUxALHWNJoBTSGU

http://pnd4pnd.com/koken/storage/cache/images/custom/WWFqrcn-png/huge.png?1399402812

Additional Languages community here on BTCtalk

German|Chinese|Turkish|French|Dutch|Italian|Polish|Portuguese|Russian|Spanish

License

Pandacoin is released under the terms of the MIT license. See http://opensource.org/licenses/MIT.

Development and contributions

Developers work on their own trees, then submit pull requests when they think
their feature or bug fix is ready. Gitlab instance is available for everyone at http://git.bamboohouse.info.

This is just the start of a very long journey…

After the implementation of Proof of Stake to Pandacoin (PND), the development team are currently finalizing our roadmap for the coin to ensure that we are heading in the right direction towards our vision for Pandacoin (PND). Examples being included in our development roadmap that are currently being discussed, details worked out and the timing of implementation in the future include:

     o X11 and N-Scrypt mining being added towards the Pandacoin (PND) Multipool

     o Pandacoin (PND) based web and mobile games

     o Pandacoin (PND) wallet redesign and developing an online secure Pandacoin (PND) wallet

     o Work towards being listed by more high volume exchanges such as Cryptsy.com, and major Chinese exchanges such as BTC38.com and Bter.com

     o Upgrading our homepage by providing Chinese language support, Chinese and English community forum, directory listings of all services and websites associated with Pandacoin (PND), a Pandacoin (PND) development team news blog, list of available bounties, FAQ and more

     o Creating content (such as videos, infographics and blogs) in both Chinese and English to be used as a guide and FAQ to introduce newcomers and 'newbies' to crypto-currencies and Pandacoin (PND)

     o Integration of crypto-coin technologies such as Darksend and coin-mixing services that provides anonymity towards the users of Pandacoin (PND). It would make Pandacoin (PND) more attractive for Chinese citizens to adopt our coin.

     o Starting a Pandacoin (PND) Charity Foundation so we can involve dedicated and charitable members of our community and work towards having more charity initiatives such as PND4PND.com. The foundation will initially aim towards establishing an official sponsorship relationship with organisations such as WWF and/or other giant panda charity organisations. Once the community expands, the foundation will work towards other charitable causes, taking ideas directly from the Pandacoin (PND) community

     o Pandacoin (PND) gambling services managed by the team, with the profits going towards the Pandacoin (PND) Charity Foundation donation and bounty wallets.

     o Approaching as many merchants and retailers as possible to have them accept Pandacoin (PND) when the Pandacoin (PND) community and liquidity of the coin is large enough. The Pandacoin (PND) development team will continue to work towards our vision of having Pandacoin (PND) to function as a crypto-currency that is widely accepted as a unit of exchange in the future by introducing services, applications and programs to add towards the Pandacoin (PND) ecosystem.

     o Expanding our development team which currently comprise of 9 dedicated members. We're looking for graphic designers, additional marketers, additional programmers and individuals that are interested in helping to kick-start the Pandacoin (PND) Charity Foundation.

Please contact us if you are interested in joining the dedicated Pandacoin (PND) development team, either by email, private messaging one of the team members or speaking to us on our irc channel - #PandacoinPND at freenode.net

the dev team expanded from 2 to 9 ppl around a month and half ago, and things started happening:

- pandacoin pnd is now the fairest pos coin with 95 days of pow, which is unprecedented in the alt-currency market with no fast/pre/insta-mines or ipo. more and more people are starting to realize that. read the following investigations of many other famous and popular pos coins and why they are dangerous investments - www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins

- since PND-Chinese joined the dev team (he is living in china, and is a chinese national), the chinese community is growing steadily and has grown the pnd weibo and qq chinese irc channel to 180 and 280 users respectively

- pandacoin pnd made mintpal history by being the first coin being delisted from btc markets and being deregulated to the ltc markets, only to have their btc markets relisted

- the dev team shown unprecedented persistence and dedication by never giving up on the coin even when it was trading below 5 litoshi (omg cheap lol wtfbbq) and maintained a daily presence in the thread and irc channel, always communicating with the community and answering questions. today/yesterday and them handling the issues with constant presence was the perfect example of their activity

- dev team released their vision for their coin - targeting Eastern markets, Western markets and the internet, with aims to be the gateway crypto-currency for the masses. this coin has the marketing right for many markets, and PND-Chinese already shown us the increasing popularity of it by the growing chinese community.

- pandacoin pnd has shown that it can evolve and keep up with technological changes so it remains relevant with the ever changing world of crypto (cough doge cough scrypt cough asics cough palmer)

- most interesting coin in terms of how it was birthed and created. it was created by a community initially to stop scammers and scumbags that manipulate the market. later it rebranded and kept it's 'anti scam coin' philosophy, by doing campaigns like "reimbursing asiacoin bagholders". many coins claim to be 'fair', 'honest' and 'anti-scam', but really, what have they done to show for it? did they defeat and screw with one of the most famous alt coin scammers in history? those coins are nothing but marketing fluff, when they say they are 'anti-scam'.

Quote from our last thread before it got locked.


We appreciate your ideas minairia3. Before we can focus on ideas like this, we need to concentrate on growing the community size and the number of Pandacoin (PND) wallet owners before bringing out services like the one that you have suggested. One of the issues that most alt coins have is that they come out with all these services and infrastructure but do not have the community size to support a healthy ecosystem that enables it to function as a currency. At the end of the day, most function only as a "cryptocommodity".

The Pandacoin (PND) development team envisions our coin not to function as a "cryptcommodity", but as a cryptocurrency. New cryptocurrencies are not automatically money. They have to earn that liquidity by being widely accepted as a unit of exchange. And to do that, you would need a large community size to support it, and gives the community a reason to use PND. A coin is only successful in the future as a cryptocurrency only if it is valued for their liquidity and having common daily usage due to it being widely accepted as a unit of exchange. And this is the vision that the Pandacoin (PND) development team will strive for and are working towards bringing out developments to assist the adoption of PND and used as a currency in the future.

Step 1: Focus on developments which will increased the PND wallet holders. Step 2: Build upon the PND ecosystem and give individuals a reason to use PND, instead of hording it like a commodity.

With your prior suggestions on adopting anonymity coin technologies and I've just spoken to our dev team about this: it is in our 'step 1' major development roadmap. However I've mentioned this before, and that is that we have to tread and pick carefully on which technologies to adopt to ensure survival of our coin in the long run. Some solutions are more elegant and will have more longevity than others. If none of the current anonymity solutions are ideal, we might have to create our own. Bear in mind that we are careful in not being caught up in these 'flavor of the month' technologies that these new technological 'prototype' coins are bringing out (Darkcoin and Darksend for example). We do not want to integrate say Darksend now, only to find out that 1 month later a better solution comes out, which makes our invested resources and man-hours redundant.

Adopting the right coin technologies is key to survive in this fast-paced-ever-changing crypto world. That, we (dev team) understand. But we are also wary of not being seen as a coin that only knows how to copy and paste other coin technologies and add it to Pandacoin (PND). We want to be innovators also and bring out elegant developments and technologies that encourages other altcoins to follow our lead because it makes sense in the perspective of "ah yes, this is how a cryptocurrency should be like" or "ah yes, this should be an expected feature for all cryptocurrencies from now on". This is where we are focusing most efforts on right now.

We want to increase the amount of PND wallet holders in the future, and to show the crypto-space that we are dead serious on making this coin THE gateway cryptocurrency for the masses Smiley

Glad to have another official thread up.

Glad to see PND community back up on their feet again! You guys are the best! The most active dev's I have seen on this coin! This coin wins in every aspect! Only time will tell when the community will flourish! In all communities! Love you guys!

-Your #1 fan in cryptocurrency!

Great coin back by a great dev team. What else do you need?

Well said.

oh,no!!

Friendly reminder to vote for us at UseCryptos and Cryptsy!

https://www.usecryptos.com/coinvoting (even though we're #1, we can never be too sure)
https://www.cryptsy.com/coinvotes

It keeps raining PND in the IRC channel. The constant development of this coin since the start of the year and the future planned for it is what has made me a follower.