pNetwork

pNetwork (PNT) – The Cross-Chain Decentralized Finance Platform

pNetwork (PNT) Review

pTokens aspires to be a decentralized open-source system that facilitates the transfer of assets between several blockchains. In order to drive governance choices, as well as promote community involvement and adoption, the pNetwork Token (PNT) is being used. The PNT token is a critical component of the staking mechanism that serves as the foundation of the network. It does so by issuing a governance token, which serves as a crypto-economic incentive.

DeFi is intended to enable cross-chain composability to access all assets for decentralized apps. They offer a broad purpose, a simple and safe basis for any token transfer on any blockchain. DeFi tokens may be exchanged like conventional financial assets, invested, collateralized, and traded. To address this issue, pTokens offer a broad purpose, a simple and safe basis for enabling any token movement on any blockchain.

The pTokens Cross-Chain Bridge System

The pTokens system is responsible for enabling both unidirectional and bidirectional connections to be established. It enables crypto assets from either the Bitcoin or the EOS blockchains to be transferred to the other blockchains. A pToken is a token that is linked one-to-one to a non-native cryptocurrency, and whose issuance and redemption are managed by a network of validators (also known as miners). It is via the pTokens bridges that crypto assets are transferred from their original blockchain to the host blockchain and vice versa.

How The Network Works

The pTokens system will be upgraded to a completely decentralized validator network called the pNetwork. The pNetwork was established as a permitted network, which soon developed into a permitless network. It is an open, public, and autonomous network with an integrated system of governance. The technique is supported by a single validator in its first version. The first update seeks to set up a validator network that cooperates in the automatic verification of each attachment and peg-out process.

How The Node Validators Work

The pTokens system is an unauthorized network that enables anybody to be involved. The initial update to pNetwork will expose the system to a number of well-known parties, who will be validators on the network. These are node operators with unique signature skills – they securely and decentrally verify the transition from one blockchain to another (peg-in and peg-out). Further improvements seek to achieve complete decentralization, making pToken a network accessible to everyone.

pNetwork Uses Multi-party Computation (MPC)

Multi-party computing (MPC) is utilized for distributed signing of the network state using a threshold signature technique. The updated structure uses Trusted Execution Environments as an additional protective layer. A TEE is a secure sandbox with safety measures that safeguard and maintain confidentiality of the code and data put into it. The MPC can maintain certain security even if certain parties conspire and assault the protocol maliciously.

The creation and maintenance of key pairs used by the pTokens bridges are guaranteed using several TEE methods. This helps the whole system by making it more costly and difficult to disrupt. The inclusion of an underlying network improves the model by increasing the safety of the bridges of the p-tokens and minimizing hazards.

The pNetwork Decentralized Autonomous Organisation

The pNetwork is a crucial ingredient for switching to a more decentralized system that is community-run. The pTokens bridges are regulated and managed entirely by the development team in their first phase. This simplifies the implementation and accelerates the early phases of the project. To make the system genuinely decentralized, involvement by the community is essential. The pNetwork DAO is accessible to everyone and contributes through a token-based vote mechanism to its development.

How The Token Ecosystem Works

The pTokens technology allows cross-chain composition as an important component to be interoperable with any crypto-asset in decentralized financial applications. Compared to the liquid alternatives on the market, the pToken system makes market makers in the decentralized financial ecosystem more attractive since it provides economical, automated procedures.

What Is The PNT Token?

The pNetwork token (PNT) will be added to the system as an incentive for players within the network to do their part in the implementation of community governance. The pTokens system uses PNT internally to allow actions for both validators and DAO members. The PNT token is a crucial component of the system that harmonizes rewards for all players.

The flywheel effect is caused by the requirement for validators and DAO members to possess and stake PNT tokens to carry out their respective responsibilities. Validators must provide a minimum quantity of PNT tokens (200K PNT) which is used to demonstrate their commitment and acts as a bond. If a validator maliciously works, the system will be penalized by losing tokens. On the contrary, validators receive back tokens at the conclusion of the life cycle of the validator while functioning impressively.

The PNT token provides a means for users of the DAO to vote on changes to the DAO voting process. The usefulness of PNT depends on its function in the environment. It encourages validators and allows the community to engage actively in the voting processes of the system. Members will be able to voice their preferences for a range of ideas in the future through staking PNT tokens.

Over a period of two years, PNT tokens will mature at a total of 63% interest. The interest is divided over the two-year term, with a greater rate of compensation in the first year (42%) and a shift to half (21%) in the second year. This project is devoted to up to 28.35 M PNT coins that are created through inflation.

Conclusion

The system pTokens is intended to link a number of protocols for any translated crypto asset. On 5 March 2020, the first pTokens bridge (pBTC on ETH) had a successful mainnet launch with a number of live integrations. Other platforms were flawless. Integrations so that fasteners and fasteners may be created from their interface.

Further pNetwork Information

  • pnetwork
  • pNetwork
    (PNT)
  • Price
    $0.264
  • Market Cap
    $13.32 M
Scroll to Top
Bondly $BONDLY – Review My DeFi Pet $DPET – Review DFYN Network $DFYN – Review NFTb $NFTB – Review Waves Ducks $EGG- Review MegaCryptoPolis $MEGA – Review Toshimon $TOSHI – Review Cometh $MUST – Review Spore $SPORE – Review
Bondly $BONDLY – Review My DeFi Pet $DPET – Review DFYN Network $DFYN – Review NFTb $NFTB – Review Waves Ducks $EGG- Review MegaCryptoPolis $MEGA – Review Toshimon $TOSHI – Review Cometh $MUST – Review Spore $SPORE – Review