PHAETON Raises USD 1.5 Million Within 24-Hour Of IEO Launch
Phaeton, a blockchain-cantered service company that offers sustainable investment options, launched its IEO on September 18. Within 24-hours of the IEO, the project raised $1.5 million US dollars indicating a considerable demand in such a new blockchain technology service firm.
Phase 1 of Phaeton’s IEO is currently live on two Crypto Exchanges, namely P2PB2B and LAToken. Here, users can buy the native token PHAE that plays a critical role in the Phaeton ecosystem.
After Phaeton’s IEO campaign ends, PHAE Coins will be available for open market trading (buy & sell).
The second phase lists several other major exchanges, namely OKEx, FTX, Bitfinex, Gemini, and Kucoin. Team Phaeton are currently engaged and working with the latter exchanges.
Phaeton Technology has created a Positive Social Impact Platform that incubates, develops, and collaborates with new and established business enterprises that address social and environmental challenges in line with the United Nations Sustainable Development Goals. The project aims to resolve long-running social issues using blockchain technology and collaborate with all business levels, government agencies, not-for-profit organizations, impact investors, philanthropists, and technologists who want to make a social change. The sectors that Phaeton is looking at include:
- Affordable housing and community development
- Renewable energy and conservation
- Carbon credits and climate change
- Health and Wellness
- Education and social infrastructure
- Small business and microfinance
- Sustainable products and agriculture
- Supply Chain management
Phaton Ecosystem and Core Technologies
The Phaeton platform has an ecosystem offering users access to a decentralized global market. Its side chains allow independent dApps, facilitating customization, scalability, and a departure from high network fees providing multiple benefits for the users. In addition, the protocol has been designed to make it convenient, secure, and seamless for all stakeholders. Phaeton ecosystem comprises the following core technologies that power the platform and make it infinitely scalable and highly usable.
- Phaeton Blockchain: Phaeton Blockchain has created its decentralized ledger system with a 250kb block size (potential of one million transactions) and five-second creation time. Phaeton Blockchain is based upon the Delegated Proof of Stake plus Delegated Byzantine Fault Tolerance (DPoS+dBFT) consensus algorithm, significantly improving energy efficiency. Phaeton remains an independent blockchain that provides its native platform for enterprises to use, whether for monetary, transaction, data, or smart contracts. The ability for individuals to host a node is critical for the speed, infinite scalability, and security of Phaeton’s Blockchain.
- Phaeton Core: Phaeton Core is a single-sign-on platform with multi-factor authentication and biometric identity validation for smart contracts, KYC, and cosignatory transaction authorization. Phaeton Core was developed to address the lack of trust in the crypto-currency industry by authenticating all those interacting with the Phaeton Blockchain.
- Phaeton Smart Card: Resembling a typical debit/credit card, Phaeton Smart Card is a biometrically secure device serving multiple functions. It includes ID authentication, multi-currency banking, and hard-wallet storage for cryptocurrencies. As a result, it has considerable scope in retail banking and Industry 4.0 applications.
- Phaeton Coins: The Phaeton Coin transaction model is like the Ethereum ETH Coin, which is applied when any of its ERC- 20 tokens are used within its ecosystem, but in no way connected to the Ethereum or any other platform. Phaeton Coins are also used for staking and as a reward for each delegate hosting a Phaeton Blockchain node within Phaeton’s ecosystem. Phaeton has pre-mined 500 million coins with approximately 250 million Phaeton Coins in circulation and around 250 million Phaeton Coins in reserve.
- Phaeton Sidechains: The Phaeton Blockchain platform is built on the consensus of a dPoS model (delegate proof of stake). This Phaeton feature is unlike PoW (proof of work) models used by Ethereum and others. In addition, Phaeton’s Sidechain model is designed to allow an infinite number of projects or subsidiaries to create a sidechain on the Phaeton Blockchain. A Sidechain is a type of Blockchain that exists alongside its parent chain (Phaeton Blockchain). Thus, the Sidechain can be defined as the “child chain.”
Phaeton Blockchain empowers new Projects
New startups are created every minute, which is an excellent opportunity for Phaeton to tap into this ever-increasing market and make the Phaeton business model grow exponentially. Phaeton helps existing businesses incubate ideas and develop an ecosystem around current products, making the market tilt towards Phaeton incubated technology products. Phaeton also offers mentorship, guidance, and seed capital to entrepreneurs and takes an equity position, improving Phaeton’s holdings and increasing Phaeton coin value. By attracting startups with new ideas, there is the potential to find a “unicorn” idea that will disrupt the market.
New startups and projects will select Phaeton over other incubation projects because the ecosystem offers a range of infinitely scalable and secure solutions that ensure greater market exposure and user base.
New startups are attracted towards the following offering from the Phaeton,
- A network powered by interoperability to improve accessibility
- The opportunity of creating a public or isolated blockchain network
- A secured ( military grade) and infinitely scalable environment with the delegated proof of stake
- A truly decentralized governance model creating an unbiased network
- Faster hashing algorithm ( 1M+/tps) than popular alternatives like MD5, SHA-3, secure against length extension attacks, parallelizable on multi-core architecture.
The vision and realization of Phaeton Blockchain as a true market disrupter is through the leadership of Chai Shepherd.
As Co-Founder and Head of Technology, Chai is driven to ensure Phaeton Blockchain platform is robust and designed to adapt to technology changes now and into the future. Through his experience and leadership, Chai leads a highly talented and credentialed team of technology experts and developers to provide a future-ready Blockchain solution that combats the shortcomings of current Blockchain platforms, such as high/unaffordable costs, scalability and interoperability.
The first round of IEO is still running! Grab some PHAE now
To learn more about Phaeton, visit Phaeton.io.
Social Links :
Twitter : https://twitter.com/PhaetonOfficial
Facebook : https://www.facebook.com/phaeton.io/
Instagram : https://www.instagram.com/phaetontechnology/
Telegram : http://bit.ly/Phaeton_telegram
Discord : https://discordapp.com/invite/F44Ybhj
Media Contact :
Contact Person: Chai Shepherd
Company Name: Phaeton PTY LTD
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