PacketCrypt is currency for bandwidth
Miners are paid in PacketCrypt by running the PacketCrypt proof-of-work. This delivers the economic incentive for miners to support the network and powers the PacketCrypt blockchain. The PacketCrypt cryptocurrency is designed for microtransactions with near-instant settlement and near-zero gas fees. The intent is for PacketCrypt to eventually power a decentralized bandwidth-trading marketplace.
PacketCrypt is a utility coin
PacketCrypt is the fuel powering the PacketCrypt ecosystem. Utility includes payments for internet access, high speed VPN and e-commerce use cases. With PacketCrypt Lightning Network integration coming soon, website operators can build PacketCrypt Network websites and receive PacketCrypt payments directly to their IPv6 website URL. This eliminates the need for third party payment processors and delivers near-infinite transactions per second and near-instant settlement.
PacketCrypt Use Cases
PacketCrypt VPN
PacketCrypt VPN uses peer-to-peer cjdns technology. It ensures a fully decentralized service, featuring end-to-end encrypted data transmission and connectivity. Leveraging the strengths of mesh networking, PacketCrypt VPN is a robust, trustless alternative to traditional VPN services, which also opens access to the PacketCrypt Network.
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PacketCrypt Websites
Anyone can host websites within the PacketCrypt Network using cjdns. All PacketCrypt websites are censorship-resistant and reachable within the PacketCrypt Network. Website hosts can also use a reverse-VPN feature so content is accessible from the public internet. PacketCrypt websites can use their IPv6 web URL as a PacketCrypt payment address for payment processing.
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PacketCrypt
PacketCrypt is the world’s first bandwidth-hard proof-of-work. Like all proof-of work-algorithms, PacketCrypt uses computational power to solve a mathematical problem. Uniquely, the PacketCrypt problem solving becomes easier when miners work together to solve it by sending data between each other, which requires bandwidth.
Yellowpaper
TokenStrike
TokenStrike is a forthcoming token standard that simplifies the issuing of cryptocurrency tokens. Each TokenStrike token supply will be its own blockchain, so transaction settlement is not dependent on the core PacketCrypt blockchain. This ensures limitless scalability and a foundation for supporting decentralized bandwidth trading marketplaces.
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Bandwidth Marketplaces
Roadmap development includes a DEX-like marketplace where decentralized internet operators (Cloud ISPs) can buy and sell tokens that represent bandwidth-leases. Cloud ISPs will acquire bandwidth leases and stitch together internet service infrastructure. Contributors (Edge Points) will sell bandwidth leases and monetize bandwidth.
Whitepaper