Phaeton Technology… What is it, and why can this project be called a special one? Yes, it’s our new LATOKEN review. It’s been a while! We want to remind you that in our LATOKEN reviews, we talk about different tokens, protocols, and crypto projects to keep our users updated. So let’s get it started!
What is Phaeton, and why do more and more users trust it?
Many users trust the Phaeton project because its main goals lie outside the crypto space. Many came to the cryptocurrency world from the stock market and invested in real companies with real profits, so cryptocurrency can still seem strange. Some of the existing crypto projects will survive, but many are quite unprofitable. We have already written about shitcoins more than once. This is still new to people. Many believe that DeFi, decentralization, Bitcoin, and Ethereum are too far apart. Phaeton addressed this issue and decided that the best way to convince the public of the benefits of blockchain is to use a physical concept that they can understand.
Phaeton has developed an on-site power generation system where it is needed to power a new type of ultra-energy-efficient building that will generate its own energy.
The Phaeton blockchain is based on the Delegated Proof of Stake (dPoS) plus Delegated Byzantine Fault Tolerance (DPoS + dBFT) consensus algorithm, which improves energy efficiency. Phaeton remains an independent blockchain specializing in providing a platform for businesses to use, be it cash, transactions, data, or smart contracts. The ability for individuals to host a node is critical to increasing the speed, scalability, and security of the blockchain.
Data centers consume huge amounts of energy. Imagine that you have a thousand computers at home that work around the clock, seven days a week. Imagine what your electricity bill will be! Data centers should be the most energy-intensive enterprises in human history. But it looks like Phaethon has a solution to the problem of all this energy. If they can succeed in producing energy where it is needed, and with their smart home project that incorporates the same model, it will be a truly innovative concept where homes and businesses may or may not need electricity at all. No power plants, no wires, nothing! Impressive, right?
Is Phaeton a Solana 2.0?
The ultra-efficient Solana and Phaeton blockchains consume much less power than proof of work in blockchains like Bitcoin and Ethereum. In addition, both can offer some of the lowest transaction fees on the market, such as $0.002 per transaction. These numbers indicate that Solana and Phaeton have all the prerequisites for successful blockchains.
By the way, LATOKEN has already written about Solana in the LATOKEN review. Read on!
- Solana Review (SOL) Has Risen in Price by More Than 200% in a Month — What to Expect Next? LATOKEN Review on SOL token
What sets Phaeton apart from any other blockchain company (or project) are the end goals. Very few people in the entire crypto space think outside the square. Many say the Phaeton has a viable profit model.
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- Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
- Has over 2 mln registered users, over 1 mln Android app installs.
- Is in the TOP 10 of CoinGecko rank by the amount of token pairs and coins listed.
- VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
- Advisory Board includes former CFOs from JP Morgan and Paypal.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.