In the rapidly evolving landscape of blockchain technology, Phore stands out with its mission to create a global, decentralized commerce platform that is both low-cost and efficient. Unlike many other projects, Phore launched without an Initial Coin Offering (ICO) or premine, remaining self-funded with a focus on long-term sustainability. Based on a Proof-of-Stake system, Phore's blockchain rewards participants for network security through staking and masternodes, offering users a way to earn passive income. With innovative developments like a high-speed sharding architecture and a decentralized marketplace already in place, Phore is set to revolutionize how we think about digital transactions and decentralized applications.

The Purpose and Utility of the Phore Crypto Token

The Phore crypto token (PHR) is designed to facilitate secure, fast, and low-cost transactions, particularly in sensitive industries like healthcare. Operating on the Phore blockchain network, which is based on a Proof-of-Stake system, the token rewards participants for helping to keep the network secure through staking and masternodes, offering a passive income.

Addressing Key Issues

Phore aims to address the need for a decentralized and secure method of conducting transactions, especially in industries where sensitive data is exchanged. By utilizing the Phore blockchain network, businesses and individuals can benefit from faster transaction speeds, lower costs, and enhanced security compared to traditional centralized systems.

Ecosystem Functionality

The Phore token serves as a utility token within its ecosystem, providing access to specific services or functionalities. The primary purpose of the Phore token is to facilitate transactions and enable participants to conduct economic activities within the project. Staking Phore tokens allows users to earn a passive income, contributing to the network's stability and security. Masternodes offer advanced features and services to the network, such as increased transaction speed and privacy.

Unique Features and Benefits

Phore's unique features and benefits include:

1. Decentralized Marketplace: Phore has its own decentralized marketplace called the Phore Marketplace, where users can buy and sell goods and services using PHR, the native token.
2. Phore Synapse: A cross-chain bridge that allows users to transfer assets between different blockchain networks, such as Bitcoin and Ethereum, using PHR as the intermediary token.
3. Phore Blockchain: Designed to be more scalable and secure than other blockchain networks, utilizing a hybrid consensus mechanism called Proof of Stake (PoS) and Proof of Work (PoW).
4. Phore Rewards: A rewards system where users can earn PHR by participating in various activities within the ecosystem, such as staking, running a masternode, or contributing to the development of the platform.
5. Phore Wallet: An official wallet that supports PHR and other cryptocurrencies, designed to be user-friendly and secure, with features such as multi-signature support, cold storage, and encrypted messaging.
6. Phore Development: Actively developed and maintained by a dedicated team of developers and community members, constantly working on improving the platform.

Tokenomics and Distribution Model

The tokenomics and distribution model of the Phore (PHR) crypto token can be summarized as follows:

Total Token Supply

The total supply of Phore tokens is 30,535,913 PHR, which is also the circulating supply, as there is no difference between the two figures.

Maximum Supply

The maximum supply of Phore tokens is not specified, indicating that there is no hard cap on the total number of Phore tokens that can be created.

Token Distribution Model

Phore had no ICO/Premine and was self-funded, indicating that the initial distribution of tokens was not through a public sale or pre-sale event. Instead, the team behind Phore likely held onto a portion of the total token supply for themselves and used it to fund the development of the project.

Utility

Phore's mission is to establish and grow free to low-cost decentralized commerce on a global scale. Its blockchain network is based on a Proof-of-Stake system that rewards participants for helping to keep the network secure through staking and masternodes, offering a passive income. Phore's sharding architecture aims to provide transaction speeds far beyond what is available today, serving as a platform for smart contracts and unlimited decentralized applications. Phore's decentralized marketplace is currently available, with decentralized crowdfunding also planned in the future. Phore also offers B2B blockchain services for companies interested in leveraging distributed ledger technology for their organizations.

Mechanisms to Control Inflation

To control inflation, Phore employs various mechanisms such as token burning, staking rewards, and treasury management. Token burning involves destroying tokens to reduce the overall supply, which can help maintain the token's value. Staking rewards involve distributing additional tokens to users who lock up their tokens in a staking mechanism, thereby incentivizing long-term commitment and participation in the network.

The Team Behind Phore

The Phore crypto token is backed by a strong team with diverse backgrounds and expertise in blockchain and relevant industries. Here are some of the core team members:

Anthony Alleyne, co-CEO

Anthony Alleyne is a co-CEO of Phore Blockchain, which enables the transfer of value across an accessible, standardized ecosystem that is secure, flexible, and scalable. He has extensive experience in the blockchain industry and has been instrumental in driving the growth of Phore Blockchain.

Mike Trisko, CEO

Mike Trisko is the CEO of Phore Blockchain, appointed in 2021 to drive the company's growth in the expanding blockchain industry. He is a seasoned professional with decades of relevant industry and technology experience, having previously served as a Senior Manager at Deloitte Consulting.

Éric Lamontagne, Senior Software Engineer

Éric Lamontagne is a senior software engineer with 23 years of experience in software development. He is certified in blockchain and has worked with organizations of all sizes, from successful startups to corporations in various sectors. Éric has a strong background in software development, web development, and blockchain technology.

Belma Gutlic, Full-Stack Developer

Belma Gutlic is a full-stack developer with a master's degree in software engineering and experience in blockchain development since 2015. She has built several decentralized applications (dApps) using Ethereum and is known for her expertise in smart contract development and blockchain technologies.

Denis Baturin, Blockchain Analyst and Solidity Developer

Denis Baturin is a blockchain analyst and Solidity developer with experience in developing and integrating blockchain solutions.

Market Data and Performance

Phore's market data provides insights into its current performance and historical trends:

• Current Price: $0.0031
• Market Cap: $95,082.59
• 24h Price Change: 1.54%
• 7d Price Change: 13.17%
• 30d Price Change: 63.16%
• 24h High: $0.0031
• 24h Low: $0.0031
• All-Time High: $9.4570 (2018-01-13)
• All-Time Low: $0.0002 (2023-01-21)
• Circulating Supply: 30,535,