News is out from a company based on crypto aiming to lay support for the businesses dealing in cannabis and helping customers avail themselves of standard quality commodities. News highlights that the company is coming into the Cosmos sector by making a switch.
A globally operating company based on blockchain-built technology that acts as a support system for companies dealing in cannabis to enjoy a cashless experience came with an announcement that the company is making a switch by entering into Cosmos.
At current, the blockchain platform is performing in a customized DASH/BTC technology version. Though it works as wonderful support for payment gateway, the first infrastructure came into performance a decade ago. The executives speak on the matter that they hope to work on improving and progressing the network.
BiTCanna considers Cosmos as a great option that is present in the current time and it does hold a strong performance in Testnet surroundings. Along with this, BitCanna is considering offering other infrastructural sweeping changes that will enable Cosmos to open the way for a “supply chain layer” with higher efficiency and ensures a seamless BCNA new coins transaction.
Why shift to Cosmos?
BitCanna reveals that the newly launched coin based on Cosmos will result in speedy payment transactions and fewer fees on transactions in comparison to the current operating network. The benefits are not just limited to this, since other benefits comprise how blockchains get a chance to engage in communication with each other in Cosmos- making BitCanna build a network with Polkadot, Ethereum, Cardano, and Binance Chain likes. It depicts that the team will enjoy freedom with the development of features – resulting in unlocking different possibilities for customization and lowering the time required in development.
Apart from the native launched coin, another coin will come as an “ERC-20 token” and both the coins will be Cosmos-based. Over time, BitCanna holds a belief to come into the market by launching certain exchanges that run in a decentralized network like SushiSwap and Uniswap, which are high in the market with a volume for trading going to $1 billion every day. Learning all this, one gets to understand that users of BCNA don’t need to cover up details for KYC (Know Your Customer) verification.
At present, it is said to the BCNA holders that there’s no need to move ahead with any action step. Within the future months, holders will get hands over an opportunity to indulge in coin swapping for Cosmos-based currency. Also, many opportunities will come to serve as BitCanna delegator or validator.
Modifying attitudes in the regulatory network
Although there’s a shift in the regulatory network framework and attitudes are changing, BitCanna says that restrictions are impeded on the industry operating globally for cannabis. Different payment providing services don’t accept entrepreneurs providing service even after the legalization of marijuana’s recreational and medical use in some places due to the shade type of image prevailing in the sector.
Also, BitCanna is engaged to form an alliance that works suitably for legislators and acts as a measure in resolving multiple issues that are just ruining the prevailing market.