PinkChain Network: A Layer 1 Proof Of Work Blockchain!

in #flokichristmas • 2 years ago

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Foundation

The Cryptocurrency Industry is characterized by different Blockchain networks. The common of the networks are The Ethereum Blockchain ERC20 and the Binance Smart Chain Network (Bep20). Other effective Blockchain networks that have popularized the cryptocurrency genre are the Polygon Matic, Solana and Stellar Chain to list a few. Pinkchain is another Blockchain network that would be joining the fray with additional features; it would be compatible with Ethereum Virtual Machine and would feature a kind of Proof of Work Mechanism different from the traditional mining machine and mining rig setups. Ethereum Virtual Machine is a computation engine that functions like a decentralized computer with millions of executable projects. EVM functions like a huge decentralized or Master Computer which executes all classes of tasks on the Blockchain Network.

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An Evaluation of PinkChain Network

Pinkchain is a Layer-1 Ethereum Virtual Machine (EVM) Blockchain Platform that is centred on Decentralized Finance (Defi), GameFi and the Metaverse. Pinkchain is the maiden Proof of Work Blockchain to have Liquidity Mining and Staking. These are new innovative ways of mining that presents alternatives to the Proof of Work Ethereum. Pinkchain in itself s Scalable, Sustainable, High-Performance Blockchain platform and is fully compatible with EVM. Pinkchain’s compatibility with EVM authorizes developers to erect scalable user-friendly Decentralized Applications at almost no cost. Pinkchain guarantees real decentralization using Proof of Work (POW)

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PinkChain Network, EVM Compatible

Pinkchain is a hundred percent compatible with Ethereum Virtual Machine and can deploy and run any application based on Ethereum/EVM. Developers can execute smart contracts on PinkChain coded in popular programming languages such as Solidity, Pink.

Build on PinkChain

Like earlier iterated, PinkChain is fully compatible with EVM, equipping developers to build scalable user-friendly Decentralized applications at almost no cost. As a developer, you are invited to build your Decentralized Applications and Web3 applications on PinkChain. As a developer, you can start building using Soldity, Vyper and any other tool you are familiar with. Such as Remix, Truffle and MetaMask. Since PinkChain supports EVM, you can deploy your DApps just like on the Binance or Ethereum Blockchain. Some faucets are also available that would issue out little PINK tokens if you are in need of gas fees for deploying contracts. There is no limit to what you can achieve on PinkChain.

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Features of PinkChain Blockchain

The four features in the diagram below are the primary features of the PinkChain Blockchain but below they are more features with elaborate explanations. You can digest them below and reach out to the telegram administrators if clarifications are needed.

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  • Cross Chain Support: Pink Bridge

One of the greatest innovations that have braced the cryptocurrency industry is the Multibridge. I just love this function. With this, Crypto Enthusiasts can transfer assets from one Blockchain network to the other in a matter of minutes. Pinkchain is connected to renowned Blockchains such as the Ethereum Network, Binance Smart Chain and Polygon Matic to mention a few with PinkBridge. Pink Bridge authorized the exchange of data between Pinkchain and other supported Blockchain networks. Investors or Crypto Enthusiasts can transfer tokens, Non Fungible Tokens and Arbitrary data between Pinkchain and other Blockchains using the Bridge. It is also worthy to note that Arbitraging and liquidity transfers are present with Cross- Chain support.

  • High Performance

PinkChain is classical! PinkChain network can handle up to 2000 Transactions per Block while maintaining Security and Scalability. The network is also capable of adjusting Block and Transaction sizes in respect to network usage and load. I just love how flexible the PinkChain network is. The Block time is presently set to 5 seconds.

  • Zero Transaction Fees

The Pinkchain network has nearly zero transaction fees. This is in contrast with the Ethereum Blockchain which suffers from humongous transaction fees. The PinkChain is designed in such a way that the zero fees would last forever, so every user need not worry about paying high gas fees. This feature alone would make PinkChain adoptable for everyday living.

  • Stablecoins: PinkDAO and PUSD

Stable coins are assets that remain stable in price irrespective of the forces of demand and supply. It presents a safe haven for investors when the entire cryptocurreny market capitalization is taking a nose dive. Assets such USDT, BUSD, USDC, PAX, DAI to mention a few all present an ability of maintaining their intrinsic value and can be used as a means of transferring funds from one geographical location to another. The PinkChain Ecosystem would also be launching its own native asset in the form of PUSD which would be backed by all the stablecoins mentioned above. PinkDAO acts like a bank where you can deposit where you can deposit numerous stablecoins to get one principal stablecoins PUSD and also earn interest in the process. In comparison with other banking system, PINKDAO is totally decentralized and is operated by individuals across the globe that has the native token of PinkChain Protocol, PINK. The core team’s principal goal here is to create a stable coin that would mitigate the risk of holding one single stablecoin by leveraging a handful of multiple stablecoins.

Mining for Everyone

With the traditional Proof of Work mining Algorithm, every miner required a mining machine or a mining rig and this sets a barrier since not everyone can afford or manage mining rigs or establish network nodes. This constraint, limits the entire mining activities to tech savvy individuals and not the regular crypto populace. PinkChain is stepping in to change this narrative by making the liquidity mining process a whole lot easier to accommodate all participants that desires to participate in mining exercises. Just anyone can start mining PINK by providing liquidity asides the GPU miners.

PinkChain Partnership

The core team at PinkChain network have secured meaningful partnership with some recognized firms as displayed below. Pinksale would be carrying out the presale action on behalf of the Pinkchain core team. These partnerships shows how resolute the core team is to see that their concept gets global recognition. Feel free to get more clarifications from the administrative team via the links below.

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Roadmap

The roadmap below shows the team's near and distant plan. You can get acquainted to it. These plans would help the mean keep track of their proposed roadmap, developmental plans and events. Kindly get accustomed to it.

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Pink Sale Tokenomics

Chain ID: 10100 (mainnet), 10101 (testnet)

Name: PinkChain

Ticker: PINK

Max Supply: 100,000,000

PINKBlock Time: 5~10 seconds

Block Reward Ratio: 50% PoW - 30% Farming - 20%

Staking: Approximately Yearly Emission: 4~5 Million PINK

Supported Cross-chains Networks: BSC

Conclusion

The PinkChain network is an amazing network, one that brings distinction and a lot of benefits in comparison with other Blockchain networks in the industry. The network features a near zero transaction fees, a model and initiative such as the provision of liquidity to enable all participants mine. A unique stable coin PUSD that has the capacity of mitigating the risk associated with holding a single Stablecoin by leveraging a number of multiple StableCoins. In all, PinkChain offers a lot of benefits other chain do not posses. I foresee that a number of Cryptocurreny Enthusiasts would make it their number one Blockchain of choice. As an Enthusiast, make PinkChain your primary Blockchain!

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2 years ago in #flokichristmas by
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