PNT

Overview of pNetwork (PNT)

pNetwork (PNT), founded in 2019, is an open-source protocol that facilitates the movement of assets, NFTs, and data across different blockchains. Their main feature is pTokens, which are wrapped versions of original tokens designed to maintain a 1:1 peg with the original asset. PNT is the native token of the network, used for governance and available on various exchanges including Coinbase, and can be stored in any ERC-20 compatible wallet. pNetwork is prominent in the DeFi (Decentralized Finance) space, enabling interoperability between various blockchain ecosystems.

Pros and Cons

What Makes pNetwork (PNT) Unique？

pNetwork's innovation lies in its pTokens, a type of wrapped token that bridges assets between blockchains. Unlike other cryptocurrencies focused on a single blockchain, pNetwork allows users to interact with various DeFi applications and hold assets (including NFTs) across different ecosystems, promoting interoperability and wider utility for digital holdings.

How Does pNetwork (PNT) Work？

pNetwork's magic lies in its “two-way peg” system. When a user wants to move an asset (like Bitcoin) to another blockchain (like Ethereum), they deposit it into a smart contract on the original chain. An equivalent amount of pTokens (pBTC in this case) are minted on the target chain. To retrieve the original asset, the user simply burns the p Tokens, and the original asset is released from the smart contract on the first chain. This system relies on a network of validators who ensure the peg remains constant and secure the entire process.

Exchanges to Buy pNetwork (PNT)

Here's a breakdown of some exchanges where you can buy pNetwork (PNT), including currency and token pairs.

Centralized Exchanges (CEXs):

• Binance: One of the world's largest crypto exchanges, Binance offers PNT trading against several popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Tether (USDT).

See this link for details on how to buy PNT: https://www.binance.com/en/how-to-buy/pnetwork

• Download a crypto wallet, such as Trust Wallet. Set up your wallet.
• Buy Ethereum (ETH) on Binance and transfer it to your crypto wallet.
• Choose a DEX that supports Trust Wallet, such as 1inch. Connect your crypto wallet to the DEX.
• Swap your ETH for PNT. Be aware of scams and ensure you have the official contract address.

• Coinbase: A reputable exchange known for its user-friendly interface, Coinbase allows buying PNT with fiat currencies like USD and EUR using their proprietary payment methods.
• Gate.io: This exchange boasts a high trading volume for PNT and supports pairings with various cryptocurrencies like BTC, ETH, USDT, and USD Coin (USDC).
• Bitrue: A popular exchange with margin trading options, Bitrue offers PNT trading against BTC, ETH, USDT, and Binance USD (BUSD).

Decentralized Exchanges (DEXs):

While DEXs generally offer fewer trading pairs, some popular options for buying PNT include Uniswap (UNI), SushiSwap (SUSHI), PancakeSwap (CAKE), and Balancer (BAL). These DEXs typically allow swapping PNT with other ERC-20 tokens.

How to Store Phoenix(PHB) ？

There are two main types of wallets you can consider for storing your pNetwork (PNT): custodial and non-custodial (self-custodial).

• Custodial Wallets:

These are easier to use for beginners as they store your private keys for you. This makes them convenient but also means you don't have full control over your PNT. A good option for custodial storage is using the wallet provided by the exchange where you buy your PNT, like Kriptomat [Search Kriptomat buy PNT].

• Non-Custodial Wallets:

These give you complete control over your PNT by storing your private keys yourself. This offers more security but requires more technical knowledge. Here are some popular non-custodial wallet types:

• Hardware Wallets: Considered the most secure option, these are physical devices that store your PNT offline. Examples include Ledger and Trezor.
• Software Wallets: These are digital wallets you install on your computer or phone. MetaMask is a popular option for its ease of use.
• Paper Wallets: These are physical pieces of paper containing your private keys. While secure if stored properly, they can be vulnerable to damage or loss.

Is It Safe？

pNetwork (PNT) utilizes a multi-layered security approach to safeguard its network and user assets. Here are some key security features:

• Trusted Execution Environments (TEEs): pNetwork employs TEEs to secure the minting and burning of p Tokens. TEEs are isolated hardware components within processors that provide a secure execution environment for sensitive operations, protecting private keys and preventing unauthorized access.
• Multi-Party Computation (MPC): pNetwork leverages MPC to distribute the responsibility of managing private keys across multiple validators. This decentralized approach ensures no single entity holds complete control over the keys, mitigating the risk of single points of failure and malicious attacks.
• Fraud Proofs: pNetwork utilizes fraud proofs to enable anyone to detect and challenge fraudulent transactions. This mechanism allows the network to maintain its integrity and quickly rectify any discrepancies.
• Decentralized Autonomous Organization (DAO): pNetwork is governed by a DAO, a community-driven structure that empowers token holders to participate in decision-making processes. This promotes transparency and accountability, ensuring that security measures align with the best interests of the network.
• Regular Security Audits: pNetwork undergoes regular security audits conducted by reputable firms to identify and address potential vulnerabilities. This proactive approach helps maintain the network's resilience against evolving threats.

How to Earn Phoenix(PHB)？

To earn pNetwork (PNT), users can participate in staking, liquidity mining, or providing cross-chain services within the pNetwork ecosystem. For those considering buying PNT, it's essential to conduct thorough research on the project's fundamentals, including its technology, team, and roadmap. Given its focus on cross-chain interoperability, the success of pNetwork hinges on the broader adoption of DeFi and blockchain technology. Assess the market conditions, understand the risks associated with volatile cryptocurrencies, and consider diversifying your investments.

FAQs

Is pNetwork (PNT) secure？

pNetwork utilizes multiple layers of security including TEEs, MPC, and DAO governance to safeguard user assets.

How can I earn PNT？

Staking, running a validator node, and DAO participation are the primary ways to earn PNT within the pNetwork ecosystem.

Is PNT a good investment？

While pNetwork's technology offers potential, PNT is a speculative investment. Conduct your own research and understand the cryptocurrency market's volatility before investing.

Where can I buy and store PNT？

PNT is available on various cryptocurrency exchanges. Choose a reputable exchange and consider both custodial and non-custodial wallet options for storing your PNT based on your security preferences.