PotCoin is the first digital currency created to facilitate transactions in the legalized marijuana industry. PotCoin was originally a fork of Litecoin with a few differences, such as shorter block times, a quicker halving schedule and an increased maximum supply of tokens. PotCoin was created by three entrepreneurs who went by the nicknames, Hasoshi, Mr. Jones and Smokemon 514. Mr. Jones (Joel Yaffe) and Smokemon 514 (Nick Iverson) have both revealed their identities, but Hasoshi’s identity is still unknown. On August 23, 2015, the PotCoin consensus mechanism was changed from Proof of Work to Proof of Stake Velocity, similar to Reddcoin.