USE CASES
Where is PLKX used?
PLKX is the coin used as the main currency in the PLAAK Phaeton blockchain. PLKX is built for independent payments and not only limited to use for dapp transaction fees in sidechains for medium & large scale enterprises.
Payments
As any other cryptocurrency, PLKX can be used for low fee payments worldwide.
DApps
Phaeton DApps use PLKX for paying the cost of transfers & transactions.
Purchasing
PLAAK will soon allow you to use PLKX for purchasing PLAAK Hardware wallet, and memberships.
Trading
PLKX will enable higher speed trading on all exchanges focused on decentralized exchanges.
Hyper Fast
Utilizing the 1mil tps including the sidechain transactions, phaeton blockchain will be one of the fastest.
Scalable
Utilizing dPOS & sidechains, PLAAK Phaeton can scale horizontally and in layers allowing nested sidechains.
Highly secure
Phaeton uses the blake2b as the hashing algorithm which is well optimised for security & speed.
GETTING PLKX
How to buy PLKX?
PLKX is the coin used as the main currency in the PLAAK Phaeton blockchain. PLKX is built for independent payments and not only limited to use for dapp transaction fees in sidechains for medium & large scale enterprises.
To allow easy purchasing of PLKX, PLAAK Phaeton Web wallet will soon introduced with a new feature of buying PLKX coin using ETH/BTC/XRP, supporting over 1000 cryptocurrencies. No need to signup anywhere, just use your web wallet!
How to exchange PLK with PLKX?
PLAAK will support 1:5 buy back program held in Q4 2018 & Q1 2019. The instructions and duration of this program will be released soon on our social channels Telegram, Discord and Facebook
INFO & ECONOMICS
 Type of Blockchain
|
Delegated Proof of Stake |
 Scaling Solution
|
Sidechains, SVN |
 Total Coin Count
|
500,000,000 |
 Crowdfunding Status
|
Completed successfully |
 PLK Token Holder count
|
350+* |
 Volume
|
1,000,000 tps |
 Block time
|
1 second |
 Can be Mined
|
No |
 Staking
|
Yes |
 Type of Blockchain
|
Independent |
Staking
The staking model inside of PLAAK Phaeton works differently than many others. The current model in use-
- Provides an approach for more decentralisation
- Gives the user more control over their funds
Delegates
The delegate system in Phaeton will be public. Any user having a wallet can become a delegate by paying an amount in PLKX as the fee. Delegates can customize their name in the blockchain allowing uniqueness and secure transactions. Delegates can enjoy the benefits of joining the system of voting and will eventually get a chance to add the block to the blockchain. Any number of users can vote for a delegate. The system of dPOS allows more decentralization to the blockchain.