What is pNetwork Token? [PNT]
What is the project?
Ptoken is the latest cryptocurrency token with a vision to make sure that all the blockchains on the cryptocurrency market connect with just one crypto token. According to the developers on their website, the project is “The heartbeat of cross-chain compatibility”. What does this mean?
The PNT (an acronym for pNetwork Token) is pegged to the native cryptocurrency coin of the blockchain network to be exchanged among different blockchains. The pegging rate is 1:1 to ensure that a simple system remains maintained across the board. Pegging essentially means that any PNT on any blockchain, say Ethereum chain, is linked on a 1 to 1 basis with the native cryptocurrency, or Ethereum in our example.
To say that the pNetwork project is a bold step is an understatement. One of the major problems faced by cryptocurrencies is the lack of a cross-connection between different coins and tokens. Lack of feasible means makes it harder to exchange cryptocurrencies.
The team describes their project as a decentralised project where “Anyone can become a validator to help secure and shape the future of the network.” The project is thus community-driven with added benefits of transparent decision-making using the DAO (Decision Autonomous Organisation) approach. The project is a secure and scalable work with “Multi Party Computations and Trusted Computing, a combination which makes attacks both expensive and impractical.” Scalability gets maintained by allowing any new blockchain to assimilate with the pNetwork project. Since cryptocurrency is a continuous work, incorporating new projects in this existing ‘project library’ would ensure smooth functioning for the whole market.
Validators are the main actors within the system. A validator is akin to a moderator or a database manager, in that their work revolves around securing the cores. The validators secure the peg-in and peg-out system of the project. The pTokens or PNT are the tokens that are used to transfer crypto from one blockchain to another.
Why should you invest in the project?
Climbing aboard a new solution meant to revolutionise an existing technology is never a bad idea. The pNetwork project and the robust infrastructure surrounding the project with its components like the DAO model and validators make it an excellent choice.
Currently, the transaction fees to transfer a token from one blockchain network to another is a substantial chunk of the whole sum. This ordeal calls for a solution where all the cryptocurrencies in the world can be exchanged without a significant portion being lost to the transaction cost. PNT might be the answer to this problem plaguing the crypto world.
Since PNT is by nature pegged to all the cryptocurrency blockchains, there are no worries about the safety of the project due to the flexibility it provides. Investing a bit in this project would never hurt because the project is 1–1 linked with the blockchain. The ramifications of this are that the native currency’s movement will dictate the coin price in the future. Suppose you buy a 100 INR sum of PNT on the ETH blockchain. If the ETH coin gains a 20% appreciation, the coin will as well, and vice-versa. The aforementioned property makes it easier to track and keep a tab on.
Besides all the above points mentioned, the best feature of this token would be your ability to win a PNT giveaway by WazirX!
Where to buy the PNT token:
WazirX is the best place to buy the token, and the ongoing giveaway makes it even more obvious. To stand a chance to win the giveaway, check: https://blog.wazirx.com/pnetwork-listing-on-wazirx-grand-pnt-giveaway/
Signup for new crypto enthusiasts: https://wazirx.com/invite/qqkfgn43
Happy trading, and all the best for the giveaway!
