Phonon DAO (PHONON)?
Phonon DAO is a true layer 0 scaling and privacy solution for public blockchain networks. The Phonon Network allows participants to conduct private off-chain transfers of assets that exist on-chain by utilizing a protocol that relies upon secure hardware. Phonon transactions are completely validated between the participants of a given transaction. Transaction data is only shared with users who are directly participating in a phonon transaction.
Phonon DAO This yields significant benefits to both scalability and privacy relative to public permission less blockchains. The Phonon protocol does not require global broadcasting of transactions. There is neither proof of work, proof of stake, nor any other community formed consensus. The transactions are strictly p2p between two compatible pieces of hardware community through an encrypted tunnel.
Phonon DAO(PHONON) Storage Key Points
|Coin Name||Phonon DAO|
|Circulating Supply||3.62B PHONON|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Hardware-Secured, Off-Chain, Crypto Transactions
Phonon DAO is a open-source Layer 0 protocol which enables off-chain transfers of digital assets using secure hardware. Phonon lets you turn any cryptocurrency into P2P cash: with private, fast, & free transactions. With no node infrastructure required, Phonon serves as a unique new tool for blockchain scaling, privacy, and trustless cross-chain transactions.
Phonon Developer Kit
Phonon DAO is open-source. Anyone can contribute code or build their own apps that interface with Phonon systems. Are you a developer wanting to be first to market with Phonon’s killer app? This DevKit is the place to start. If you already have a card reader, you can get a pack of just phonon cards.
How Does the Phonon Network Work?
Phonon DAO Network is a protocol that uses secure hardware to enable private, off-chain, free transactions for nearly all blockchains. The Phonon Network lets you securely use any digital asset with all the privacy and security properties of physical cash. The Phonon Network is a peer-to-peer (p2p) system which prevents double spends through the use of unique hardware-derived cryptographic properties.
Phonon DAO Secure hardware isn’t just limited to hardware devices focused solely on wallet functionality; compatible device categories also include SIM cards and smartcards which use the same kind of chip found in today’s credit cards. Utilizing the cutting edge security that ensures safety in the current global payments system endows Phonon with robust security. Phonon will work with any blockchain wherein the curves that underlie a given blockchain are supported by the system on a chip (SoC) used in Phonon cards. As of now, this will cover 99% of all public blockchains. The Phonon DAO token and protocol governance framework are built on Ethereum.
What are the Downsides to Phonon?
Phonon DAO shares a downside with fiat cash: If you lose it, it’s gone. It’s important to think of Phonon in these terms. We doubt you’d walk down dark alleys in a major city with your entire net worth in cash on your person. Likewise, you wouldn’t want to put all of your crypto assets into a single Phonon and haphazardly lose the Smart Card or Smartphone that contains it.
Everyone has different risk tolerance, but, in general, Phonon is intended as a cash-like system, not as a savings account. For the savings account (in crypto terms) we recommend the GridPlus Lattice1 hardware wallet. It’s the most secure publicly sold hardware wallet we’re aware of. And bonus: it will have native Phonon integration soon!
Why should buy the PHONON token?
Phonon DAO Because is the next DOGE, SHIBA and BITCOIN – combined! Kidding. The Phonon DAO Token, or , is a governance and bonding token right now, which may or may not be sexy to you depending on your view of the Phonon Protocol and its potential. have more plans for the token, though, and if you’re interested and have more questions about the token we recommend reading the Phonon token FAQ.
Phonon DAO At the highest level, the PHONON token governs the system. Going forward, there will be more value added to the token. Hardware manufacturers who wish to produce Phonon-compatible hardware will be required to stake Phonon. Applications that leverage the Phonon network will likely pay fees to the Phonon DAO. Read more in the FAQ and note that these are all early iterations and they can be changed and updated by the community depending on what benefits the DAO the most.