What Is Phaeton (PHAE)?
Phaeton is an organization that deals in Blockchain Services and Technology. Phaeton has produced a Blockchain system to make a social impact. With the vision of using blockchain to improve the quality of life for all people, the platform is working on developing a social benefit system. Such a system is intended to include a set of existing technologies and efficient management that cooperates, evolves, and commercializes by newly developed business ventures that recognize societal and environmental problems.
As mentioned in its whitepaper, the platform aims to search for the present social challenges in existing communities and look for solutions using blockchain technology. Moreover, it wants to work with all industries and impact investors, NGOs, donors, and technologists who want to make the world a quality place. Using its own distinctive blockchain technology, the platform has created a system that allows access to quicker processing speeds and provides more security and affordable technology with absolute autonomy through its technology.
The Phaeton platform claims to offer the following services:
Enhancing availability and building a system that's also fueled by interoperability.
Focusing on the private or public blockchain network
Creating a protected and reliable ecosystem and distributing evidence of work.
Creating an absolute autonomous management structure that produces a network that is free from partiality
PHAE is the native token of the platform. Whenever any ERC20 tickets are taken into work within the environment, the Phaeton coin exchange model is used, similar to that with the Ethereum network. The PHAE coins are considered while rewarding and staking for every representative operating on its Blockchain network. The platform has 250 million Phaeton tokens in distribution, 500 million pre-mined tokens, and almost 2505 million Phaeton currency in reserve.
History of Phaeton (PHAE)
Phaeton was registered in January 2018 by Chai Shepherd and Damian Robson. Phaeton Blockchain MainNET was launched in February 2019. The team of the Phaeton consists of Ron Forlee as the CEO and Damian Robson as the COO. Jeremy Wolfe is the CFO.