Phore Project Discusses DApps, Smart Contracts, and Elimination of Platform Fees

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In Brief
  • The platform enables users to buy and sell goods with cryptocurrency via DApps.

  • By activating a Phore masternode, operators are rewarded with additional Phore coins.

  • The Phore community has decided to implement a new sharding infrastructure as part of the Graphene update.

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BeInCrypto caught up with Emanuele Melchionda, a marketing manager of the Phore project, to talk about decentralized marketplaces, smart contracts, and ambitious plans of the project.

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The decentralized Phore Blockchain is a jointly owned and managed distributed ledger technology (DLT) project. The mission behind it is to build a community-based digital asset and blockchain ecosystem.

In the future, this infrastructure is set to be used for more cost-effective, sustainable, and — above all — decentralized trade on a global scale. The system behind Phore (PHR) is a proof-of-stake blockchain network that promises fast transactions, with the native token, PHR, to be used privately and transparently. Melchionda said:

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“What I love about Phore is that it’s a decentralized marketplace, which is constantly being developed. Goods, services, and the like can be sold anonymously and in a decentralized manner.”

“Also, the fast and scalable blockchain called Graphene will be launched in the next few months. Graphene can process up to 100,000 transactions per second. Phore’s blockchain is not only fast, inexpensive and scalable, but it’s also possible to create digital applications (DApps) and new bridges to different blockchains, including Tron and ETH.”

Decentralized Marketplace — Trading in Goods and Services

The focus is not only on the native token Phore, but also on a decentralized marketplace. The platform enables users to buy and sell goods with cryptocurrency via DApps. The team behind the project has set ambitious goals. Melchionda explained:

“In contrast to conventional platforms such as eBay.com and Amazon.com, Phore offers the advantage of completely eliminating listing and platform fees. In addition, no Know Your Customer checks are necessary.”

“The Phore Blockchain is a lightweight, versatile network that is extremely strong and secure. Our community ensures fast, scalable, secure and reliable transactions thanks to the ever-expanding masternode infrastructure.”

In this ecosystem, those who invest at least 10,000 PHR can operate a masternode that helps stabilize the Phore network. Phore emphasizes that this system is more environmentally friendly than traditional proof-of-work networks.

By activating a Phore masternode, operators are rewarded with additional Phore coins on a daily basis.

New Blockchain and Phore Airdrop

In order to further expand the possibilities of the platform, the Phore community has decided to implement a new sharding infrastructure as part of the Graphene update. The company says that, with Graphene, it will be possible for each smart contract to run in its own shard. For example, one for lending, one for pooling and one for issuing assets.

Speaking further, Melchionda revealed that at the beginning of next year, the project will airdrop the new Graphene token to all investors in the Phore project. Those who hold Phore in their wallet or on an exchange will be able to participate in the Graphene airdrop.

Phore convinces with its unique blockchain technology and will offer new possibilities for many projects with the sharding-update and the launch of Graphene. The implementation of the Phore Marketplace has been successful and will be further expanded.

Phore COO Thomas Ambler noted: “We’re certainly going to be making it possible to transact with FIAT on the Phore Marketplace in the near future”.

You can visit Phore’s social platforms on Discord, Telegram, and Twitter for regular updates.

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