Phore Blockchain is very much a community-focused cryptocurrency. From the start we’ve developed our project with the users first and foremost in our minds. This is one of the main reasons we didn’t launch with an ICO or a pre-mine but instead allowed a coin-swap from our team’s previous coin (KTK). We chose to reward the people who’ve stuck by us, rather than choose the option that would lead to optimal short-term profits for the Phore team.
Phore Blockchain has come a long way in a short time since the coin-swap. This is due – in no small part – to our fantastic community, many of whom have provided support and contributions far beyond just buying and holding Phore. We’ve had users contribute videos, designs, guides and other contributions, often off their own initiative.
A cryptocurrency lives and dies on the strength of its users. You can have the best tech around in the industry today but without anyone to use it you’re doomed to failure. Phore’s users are among the best in the industry and have helped maintain a helpful and friendly environment in which to welcome new users. This is very important to us because of the tech we wish to implement, our upcoming marketplace will rely strongly on community involvement if it’s to become as successful as we’re hoping.
This Growing Community Also Helps Us Maintain The Phore Blockchain
This is because Phore Blockchain uses masternodes and staking (Proof-of-Stake) to maintain the network and confirm transactions on the blockchain. Unlike other cryptocurrencies where a few powerful miners provide transaction confirmations and control the blockchain; everyone with a Phore wallet has a role to play in keeping everything running smoothly. This helps keep Phore decentralised and protects the blockchain from abuse.
We recently passed a major milestone. Phore Blockchain’s masternode count exceeded 500 masternodes. Not only does this help maintain a fast confirmation time; it also provides some stability in a volatile market, with over 5 million Phore tied up in masternodes earning their owners rewards.
As well as this, our masternode holders can vote on proposals put forth by the team to determine how Phore Blockchain will progress as a cryptocurrency.
If you wish to come and join our growing community you can find us on Discord, Reddit, Facebook, Telegram, Youtube, Bitcointalk and Twitter.