The Phore Blockchain Project — Start Here
Phore Blockchain is an ambitious, community owned and governed, distributed ledger technology (DLT) platform. Our mission is to establish, strengthen and grow a community-based digital asset (cryptocurrency) and Blockchain ecosystem that forms the foundation of free and/or low cost, sustainable, decentralized commerce on a global scale.
With over 50% of all ICOs launched in 2017 having failed already, it is important to note that there was no ICO and no Premine of any Phore coins. Thats right… NO ICO and NO Premine. This is unusual by today’s standards, and Phore is proud of the fact that it is completely self-funded and sustainable.
The project is aggressive with a vision that encompasses an entire ecosystem of software capabilities and decentralized applications (dAPPs) unlike most DLT/Blockchain projects currently in development.
The system is based on a Proof of Stake (PoS) Blockchain network that offers fast transaction speeds, utilizing the “PHR” currency, which can be either private or transparent. It offers rewards for network participation to holders of PHR, through a system of decentralized Masternodes and Staking. This system is more environmentally friendly than traditional Proof of Work (PoW) networks, and keeps the network decentralized and secure.
One key differentiator is the Phore Marketplace. The Marketplace gives PHR a real-world use as a platform to buy and sell goods and services. It is a free, decentralized application (dApp) enabling e-commerce.
Buying and selling is live and active today. With no listing fees, or platform fees, Phore aims to compete with platforms such as eBay.com and Amazon.com by offering a more attractive, and profitable, platform for sellers. Phore recently announced a partnership with Reddcoin (RDD) to add support for RDD into the Marketplace upon the launch of the full release of the Marketplace dApp. The Phore Marketplace application in open beta format may be downloaded here: https://phore.io/marketplace/. As of this update, a new Marketplace release is planned within a few weeks.
SegWit integration into the Phore network was completed in Q2, and offers additional security, faster transaction times, micropayment capability, and also provides a base for cross-chain Atomic Swaps and opens the possibility of a future Lightning Network. Phore Blockchain was the first first pure PoS coin with Masternodes to integrate SegWit in the world.
Decentralized Crowdfunding, will enable small business, artists, entrepreneurs and others the ability to gain funding for their ideas and help bring them to market. This functionality will be integrated into the Phore Marketplace.
A new Sharding Architecture is in development, code-named “Synapse”. In the current version of Phore, every node in the network validates every single transaction. Synapse works by splitting the network into many shards and having only a small percentage of validators validating each transaction. This allows for incredible network speed and flexibility.
Synapse will stand as the foundation for Phore’s Smart Contracts. Not much has been done with the innovation of Masternodes since Dash launched in 2014. Phore is going to change that with Programmable Smart Contract capability enabledSynapse, enabled through Masternodes. This feature will open the door to countless internal and third-party applications, and add considerable functionality to peer-to-peer, business-to-consumer, and business-to-business transactions.
The Phore business development team is also actively pursuing partnerships with organizations for mutually beneficial relationships. Phore recently announced a partnership with Unifox to have PHR added to their global network of Point of Sale (POS) Terminals, ATM Machines and Online Exchange. This partnership aligns perfectly with Phore’s vision of real-world use, adoption and accessibility.
Phore recently announced a partnership with StoneCash, the worlds largest purchasing group serving the stone industry, for cross-border transactions. By enabling PHR in it’s online marketplace, buyers and sellers have the opportunity to save an enormous amount of time and significantly reduce costs with their business transactions.
Another exciting partnership is with Platinum Circle, the world’s leading business group involving corporations, governments and investors from around the world. Phore’s Co-CEO, Anthony Alleyne, Co-Chaired the Global Assets and Wealth Forum, hosted by Platinum Circle, in Singapore, and introduced the Phore project, as well as blockchain technology to a broad, diverse and influential audience.
With our experienced team of developers, Phore also offers B2B Blockchain Services for companies interested in leveraging DLT technology in order to stay efficient and competitive. We are currently working with several clients, developing custom solutions that fit their specific needs.
Phore Blockchain is completely community owned, governed and funded, with the vision of developing one of the strongest and most flexible Blockchain networks available.