NEXT GEN MASTERNODE SMART CONTRACT ZEROCOIN SHIT.
Today we will be going over a coin not talked about too much: Phore.
Let’s dig in to this shit...
Phore (ticker: PHR)
Low-Tier Shitcoin (moving to mid-tier it seems)
Wtf is Phore?
Among masternode geeks, Phore has been a point of discussion over the past couple of months. But, amongst traders and HODLers, not so much.
Generally, it can be telling if masternode guys (or miners too) are interested in a coin….as @ThisIsNuse (Ant) has said, “Hashing is the new accumulation phase.”
Anyways, let’s explain what Phore is about, then you can make your own decision on shitcoin investing.
Phore is a PoS only (no PoW), platform project, with masternode functionality. Masternode guys receive block rewards for a variety of services.
Here are some:
- Process zercoin private transactions (zPHR)...if you want to learn more about zero-knowledge proofs check it out in our BTCP review.
- Provide decentralized governance..fancy talk for being able to vote towards budget and technical development proposals. Invested users then have some influence over the projects direction
Running a masternode requires 10,000 PHR in your wallet as collateral (as of the day of this article, there are around 601 live masternodes).
Meanwhile normal PoS plebs can still stake their coins and receive block rewards, but the pay out is smaller.
We do want to re-iterate there is no PoW, and only PoS services are provided. The Phore team feels this is a more fair, environmentally friendly approach that is also more scalable and provides for better governance. Seeing how the economics of this plays out in any practical sense has yet to be seen. Those wealthy enough to spin up early masternodes, or simply run PoS get a pretty large first mover advantage. Granted, there is no ICO or pre-mine here, which is good.
They also tout having minimal fees..we think they hope that the masternode and PoS incentives can outweigh the need for fees over individual transactions.
Phore plans to have a large DApp ecosystem, which they intend to be scalable by allowing smart contract enabled masternodes...but they have yet to publish much information on this yet.
They have already released a Phore marketplace, to compete with eBay, but with minimal fees. Then in Q3 of 2018, they plan on adding a decentralized crowdfunding platform, which will integrate with their marketplace. So, smart contracts are already created on the Phore platform, which is telling that it does at least work (lol).
They are also big advocates of Segwit, which they plan to introduce into their system, in addition to being Lightning Network compatible and allowing for atomic swaps. Many promises here.
Who tf is behind this shit?
The team is not necessarily made up of big names, but they have a large dedicated team (for whatever that’s worth to you lol).
They have two head honchos (literally ‘Co-CEOs’) - Anthony Alleyne and Thomas A.
Anthony is an advisor to Netvrk (a VR startup that ICO'd) and has been in the blockchain space since 2014. There's not much on Thomas available online, but he seems to have some involvement in the eSports industry.
Still, it would be nice if Thomas’ last name was available...we really appreciate a more transparent team. Even their CTO goes by “Moonshot” on their website, with no photo.
So, there's a lot of faith being put in the Phore team and they should use this opportunity to prove themselves to the industry. If you look on LinkedIn they do have a lot of help from consultants and advisors, hopefully mentoring them properly.
All in all, it seems like they are trying to tackle many problems with just as many solutions, which will make any investor skeptical. At the same time, they have done well thus far with rolling out functionality on time. If they hit their roadmap, they may be a gem, who knows. If they don’t, then it’s yet another shitcoin down the drain.
Hope you learned some shit.
- Mike and Aaron