What is PhaNtomX (PNX) – Crypto Beginner’s Guide
Although cryptocurrencies are becoming more mainstream in the digital world, there is still not a lot of simple ways to implement them in real-world economics. Not everyone understands the basics of using cryptocurrency, and it can have an incredibly steep learning curve for even those who are familiar with computers and finances, much less those who don’t have much experience in those fields.
Cryptocurrencies also bump into problems when transferred to real world uses such as maintaining value and being accepted in stores. To try to ease this transition, some cryptocurrency developers are making the effort to create currencies that can be easily applied to real-world situations. One of those is PhaNtomX.
Features of PhaNtomX (PNX)
PhaNtomX is a decentralized, peer-to-peer currency that is striving for improvements over more popular, but somewhat cumbersome, cryptocurrencies like Bitcoin. For example, one of Bitcoin’s major criticisms is that its transaction time can be incredibly slow, something that can be annoying regarding microtransactions and can make trading difficult; it also results in high fees.
PhaNtomX claims that their transaction time will be much, much faster than Bitcoin’s, allowing quick processing between anyone anywhere in the world and transparency regarding those transactions. The incredibly fast processing time for transactions is the most distinctive trait of PhaNtomX.
The currency also offers security and anonymity, which has become standard for cryptocurrencies. PhaNtomX will utilize DarkSend to support anonymous transactions. The PhaNtomX wallet is also completely encrypted and will protect the currency stored on your device.
Another promising trait of PhaNtomX is that it will be community minded. It already has a friendly, growing community and the developers have a lot in mind for the evolution of the coin. They are hoping that the community will continue to support and participate in the future of PhaNtomX as it moves into its following stages.
Roadmap for PhaNtomX
Although PhaNtomX is still in its early stages, it already supports a wallet for Windows, Apple, and Linux. It has a lot planned for the future, though, such as multiple wallet updates, more in-depth information about PNX and the team behind it, and the implementation of smart contracts.
PNX – The PhaNtomX Cryptocurrency Coin
The PhaNtomX coin, PNX, is a hybrid Proof-of-Work/Proof-of-Stake currency. Block rewards are 47PNX until block 250,000. Block times are a fast 120 seconds, and transaction confirmations take 10 blocks. The minimum staking time is 3 days. It is available to buy on multiple exchanges such as Southxchange and Crex24.
Although still in its early stages of distribution, PhaNtomX is setting the bar high for itself. Since it’s still early on, however, there is still a lot of information lacking on the webpage and they have yet to release a whitepaper. However, they do supply a lot of information on the specifics of PNX, which is more than can be said for many fledgling cryptocurrencies. Whether or not PhaNtomX stands out as an extraordinary cryptocurrency will depend on its success and implementation, but it certainly is offering some competitive features.