Description
Pyraveum is a layer 1 blockchain project, which uses the DPoS (Delegated Proof Of Stake) consensus method, by prioritizing efficiency and democracy in the existing ecosystem.
How DPoS mechanism work ?
The Delegated Proof of Stake (DPoS) is another common consensus algorithm that evolved as a low-cost, low-energy consuming alternative to the PoW & PoS algorithm. It involves the allocation of responsibility in maintaining the public ledger to a participant node in proportion to the number of virtual currency tokens held by it. However, this comes with the drawback that it incentivizes cryptocoin hoarding instead of spending.
In any centralized system, like a database holding key information about driving licenses in a country, a central administrator has the authority to maintain and update the database. The task of making any updates?like adding/deleting/updating names of people who qualified for certain licenses?is performed by a central authority who remains the sole in-charge of maintaining genuine records.
Public blockchains that operate as decentralized, self-regulating systems work on a global scale without any single authority. They involve contributions from hundreds of thousands of participants who work on verification and authentication of transactions occurring on the blockchain.
AUDITED BY: TECHRATE
Market Rank
In the dynamic and ever-changing landscape of cryptocurrencies, PYRAVEUM has established itself as a formidable player. It is currently ranked #10,971 in the cryptocurrency market based on its market cap. This ranking reflects the trust and confidence that the market has in PYRAVEUM as a viable digital asset.
Tokenomics
The tokenomics of PYRAVEUM consist of a total supply of 120,000,000 tokens, out of which 78,559,194 tokens are currently in circulation. Understanding the tokenomics is crucial for potential investors, as it sheds light on the token's distribution and availability, which can directly impact its value and demand in the market.
Wallet Support
In order to securely store your PYRAVEUM tokens, you can use a variety of wallets such as Trust Wallet, MetaMask, SafePal, Coin98. These wallets provide a safe environment for managing and storing your digital assets. It's essential to select a wallet that supports the specific cryptocurrency and offers a high level of security, user-friendliness, and compatibility with your preferred devices.
Popular Exchanges
To buy, sell, or trade PYRAVEUM, you can use various popular exchanges such as ArkenSwap, Trader Joe. These platforms offer a seamless experience and allow you to manage your investments in PYRAVEUM with ease. Always remember to conduct thorough research before choosing an exchange, as the security and reliability of the platform are crucial for your digitalassets.
