PWR Coin, initially branded as Powercoin with the ticker PWR, is a cryptocurrency aiming to provide an alternative payment method for online shopping. Released on May 18, 2016, it utilises a hybrid model of both proof of stake (PoS) and proof of work (PoW) based on the GPU-mined NIST5 algorithm. This hybrid model was designed to make mining accessible for users with GPUs, compared to Bitcoin's ASIC mining. PWR Coin is primarily used as a payment method for e-commerce platforms. The development team created PWR PAY, a plugin allowing online stores to accept PWR Coin as a payment option. Initially launched for WooCommerce/WordPress, PWR PAY facilitates seamless transactions with low fees. The plugin plans to expand to platforms like Shopify, Magento, Opencart, Prestashop, and Zencart. It also benefits installers by enabling staking rewards on wallet balances, adding profitability for e-commerce sites that implement it.
