Phoenixcoin (PBX) is a decentralized digital currency for everyone, designed and produced with open-source concepts in mind. It does not require expensive gear and may be successfully mined with common computer video cards or processors. It is also a quick and dependable way to move funds across the world. Phoenixcoin was created with a high level of transparency and community interaction in order to embrace cutting-edge technologies. All users can help with the development of the platform.

To use Phoenixcoin, users require a client software called a digital wallet. The wallet keeps a local copy of the Phoenixcoin blockchain where all transactions are saved, enabling users to trade coins and check their balance at any time. The wallet connects a user’s computer to the Phoenixcoin network and connects with other network participants, referred to as peers. Because Phoenixcoin is a decentralized currency, there is no centralized authority to oversee it. Peers control operations through global consensus. Every peer is a master in their own right.

Phoenixcoin was created in May 2013 as a further development of Litecoin. The asset has a total maximum supply of 98,000,000 PXC coins. The latest version of the Litecoin Wallet was launched on February 13, 2019.