Phore Coin PHR Cryptocurrency is a new cryptocurrency available dedicated to offering private, secure, and fast payments. It is available for both Windows and Mac applications online through Phore.io.
The acronym PHR is the way to locate Phore cryptocurrency. When Phore coins were launch in November of 2017 they were valued at thirty cents per coin. As of December 2017 Phore had moved up in value to become one of the top two hundred cryptocurrencies regarding market cap at $5.00 per coin with a market cap of 40 million US dollars.
With a circulating supply of 8 million Phore, there is a total supply of 11,514,939 Phore. Users familiar with KryptKoin will be interested to know that Phore is an updated and rebranded version of KryptKoin. A complete one to one coin sway between KryptKoin and Phore occurred in November of 2017.
What Makes Phore Special?
The relaunch and rebrand of KryptKoin into Phore offers users development oriented option that is collaborative while maintaining privacy at the same time. Phore is an open source project focused on the community at hand first.
The goal of the Phore project is to offer a wide range of global users including individuals, merchants, and traders who are looking for a decentralized cryptocurrency that offers both high performance results as well as fair distribution. Two features were added to Phore’s plan by the developers including Zerocoin protocol and governance masternode voting.
Governance mastermode voting allows users to vote for or against proposals made by developers. Zerocoin protocol ensures complete security and privacy while using Phore.
By the first quarter of 2018 developers plan to roll out a decentralized marketplace called Segregated Witness with full availability within the second quarter of 2018. The block chain of Phore was built on Bitcoin Core 0.10.x. Phore offer BIP38 encryption and private key decryption.
Phore is a completely proof of stake network offering users a large supply at 11,268,429 with the Block target rate is 60 seconds. Transaction fees are .0001 and the Minimum Staking Age is three hours. Phore’s Block Maturity is 50, Block Reward is 7.7 PHR, and Phore’s Budget System is .7 PHR.
- Staking is what keeps the Phore network secure with masternodes being used for instant transactions and governance. 10,000 PHR is required as collateral for each masternode. 40% of the of the block reward goes to stakers and 60%of the block rewards goes to masternodes.
- Zerocoin allows for coin mixing. This security measure was developed based on a system developed by academic cryptographers called libzerocoin. Unlike Bitcoin, Phore is able to use Zerocoin to offer guaranteed privacy with 100% untraceable exchanges.
- Phore offers sixty second block times making funds available for spending quickly.
- By offering BIP38 encryption and decryption of private keys, Phore offers a completely private option for users. Rewards to both masternodes and stakers are fair at a 60/40 split.
The Phore website Phore.io lists the development team in full with an emphasis remaining on decentralizing development.
Summarizing Phore Coin PHR Cryptocurrency
Phore is currently available for trading on Cryptopia and features fast, cheap, private transactions using a 3.0 PoS System. Phore focuses on a decentralized government and an open source collaborative environment. More information is available online at Phore.io.