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AAX Trends

Phaeton (PHAE) Explained

Phaeton (PHAE) Explained

Explainers Blockchain

07 Feb 2022

What is Phaeton (PHAE) Blockchain?

Phaeton Blockchain is a social impact project that aims to advance blockchain use cases beyond cryptocurrencies. The platform relies completely on renewable energy, making it a clean and sustainable investment.

Its mission is to create blockchain solutions for current social problems, including paving the way for affordable housing, renewable energy and conservation, carbon credits, education and social infrastructure, small business and microfinance, agriculture, and supply chain management.

It uses a sidechain functionality, which allows other protocols to use its platform without disturbing Phateon’s core operations. It also created an incubator platform for social impact-driven projects, which will also be tackled here.

Core Technologies

  • Phaeton blockchain

The blockchain uses decentralized ledger, which allows peer-to-peer transactions without the need for an intermediary. It uses a Proof-of-Stake model and Delegated Byzantine Fault Tolerance, which means safer assets and faster transactions.

  • Phaeton core

Phaeton Core is representative of security and convenience using single sign-on (SSO). This allows users to log in once to access multiple services. The technology also uses multi-factor authentication and verification using biometrics.

  • Phaeton smart card

It is a multi-use card that can be used for ID authentication, banking, and hard wallet storage for your crypto assets. It is secured with biometrics.

  • Phaeton coins

There are 500 million pre-mined coins, out of which 250 million are in circulation. They can be used in staking and transaction fees. They can also be acquired as a reward for hosting a node.

  • Phaeton sidechains

The Phaeton sidechain model exists alongside the parent blockchain. This means other platforms or protocols can be developed without disturbing the main chain.

Some Phaeton applications in the real world

Phaeton aims to competitively enter real estate, data centers, identity management systems, carbon credit trading, and staking industries. Its own projects live up to the mission of creating solutions that have a social impact and improve the communities around the project.

  1. The Phaeton network are data centers that reduce carbon footprint.

The novel idea is to integrate off-grid modular data (OMD) with blockchain, using the powers of solar, hydro, and geothermal. It is used for data network interrogation and the secure upload and download of information. Being modular makes it easily scalable. It can be installed in any location and managed remotely.

  1. The Phaeton smarter housing uses clean energy and are built on sustainable materials.

The materials are produced in a factory on updated construction technology, which renders their high quality in a controlled environment. The houses are built on the latest digital tech and are powered with renewable energy. In addition, it offers alternative mortgage using Phaeton’s DeFi model and NFTs.

  1. The Phaeton real estate TNFT marketplace is an investments platform with a crowdfunding feature

If you want to buy, sell, or trade tangible non-fungible (TNFT) real estate tokens, this is your market. Users can also mint tokens of real estate projects here to be sold later in the marketplace as a form of crowdfunding. TNFT can be considered as shares, property title, timeshare, co-sharing, and mortgage.

There are also non-branded projects that use Phaeton technology in their platforms. These include the Australian Carbon Credit Exchange (ACCE) and the UniCity NFT Marketplace.

The project of ACCE tokenized Australian Carbon Credit Units to make them tradeable. It offers real-time settlement and faster transactions. The token can be “burned” to offset one tonne of carbon emissions.

Meanwhile, UniCity is a marketplace for real estate projects. Users can view the history of sales, including price fluctuations.

The team behind Phaeton

CEO Ron Forlee leads the team and brings in a rich background in architecture and property development. He envisions Phateon as a propeller of blockchain use cases beyond cryptocurrencies, including for financial, construction, and agricultural technologies.

CTO and Co-founder Chai Shepherd considers himself an early investor in the crypto space. His expertise lies in UI design and front-end development. COO and Co-founder Damian Robson contributes his experience in marketing and operations from blockchain projects, such as Plaak.

CFO Jeremy Wolf brings in a solid background in accounting and business law. He has worked in the medical, hospitality, professional services firms, and tech industries.

Where can I buy, sell, or trade PHAE?

PHAE first launched across five exchanges—AAX, Lbank, Latoken, P2PB2B, and XT.com—in December 2021.

You can buy, sell, or trade PHAE on exchanges such as AAX, CoinTiger, LATOKEN, and XT.com. Its usual trading pairs are Tether (USDT) and Bitcoin (BTC). PHAE reached an all-time high of US$1.9 per cryptocurrency on January 1, 2022, according to CoinMarketCap.

PHAE first launched across five exchanges—AAX, Lbank, Latoken, P2PB2B, and XT.com—in December 2021.

You can buy, sell, or trade PHAE on exchanges such as AAX, CoinTiger, LATOKEN, and XT.com. Its usual trading pairs are Tether (USDT) and Bitcoin (BTC). PHAE reached an all-time high of US$1.9 per cryptocurrency on January 1, 2022, according to CoinMarketCap.

A greener future with Phaeton

Phaeton may seem fairly new in the industry, but its concept in the blockchain space is pioneering. It is pursuing a cleaner and greener future using renewable energy while incentivizing its users. With real-world applications in existence, Phaeton brings together the ingenuity of blockchain technology in solving real-world problems and creating impact where it matters for communities. You can find Phaeton in data centers that aim to reduce the global carbon footprint, in smart houses with DeFi mortgage plans, and in TNFT marketplaces for real estate investors.

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