What is Phaeton
Phaeton is a decentralized public blockchain featuring hyper fast transactions and side chains. PLKX is Phaeton’s coin used for all transactions. PLAAK is building the blockchain to solve the issues of scalability, speed & cost optimisation. The phaeton blockchain is targeted for medium- large scale enterprises along with individual open-source developers who can utilize the API and create dapps. The blockchain uses the delegated proof of stake (dPOS) in which any user can be a delegate by paying a monthly fee.
The blockchain is created to optimise the scalability and speed together allowing plaak to have a block time of 1 second.
Full Smart Contracts
Phaeton blockchain uses side chains which help with scalability and allowing main chain to be nearly independent of side chain transactions. Side chains run dapps & smart contracts (under development)
Phaeton blockchain supports unlimited tps. Being already tested for 1 million tps makes Phaeton one of the fastest blockchains.
Phaeton is a public blockchain. Every user can join and become a delegate and can openly contest in voting. The blockchain is much more decentralized & federative.