What is the Public Index Network? The Public Index Network (PIN) is a Blockchain project designed to index metadata for Web3. As Kriptokoin.com, we will examine the Public Index Network in this article. In addition, we will answer questions such as what the Public Index Network is, what it offers, what is PIN coin, what is it for, how to get it. Let’s examine this project together, which provides metadata services for DeFi, NFT and other digital assets.
What is the Public Index Network?
The Public Index Network (PIN), formerly known as Flo Blockchain, is a Blockchain network that was released as a Litecoin fork in 2013. This network is designed to operate in a decentralized, secure, fast and efficient manner. The Blockchain structure of PIN is directly derived from Bitcoin’s UTXO model and its security is provided by the Proof-of-Work mechanism. Blockchain network is created without pre-mining, ICO, masternode, airdrop and development funding. Today, the network exists as a fair, Web3-oriented platform for miners.
What does the Public Index Network offer?
This Proof-of-Work (PoW) network with a Litecoin fork has a range of products and services that work well for Web3. Accordingly, the basic use case of the platform revolves around metadata. The ecosystem allows users to index metadata for NFT, DeFi and other digital assets. So much so that the project serves as a cryptocurrency designed to index Web3 metadata. However, the platform works in a multi-chain fashion. Currently, PIN has Wrapped tokens on Polygon, BNB Chain and Ethereum.
Users and developers can fix metadata within the network. This means being able to store it permanently and immutably on the network for general use. Pins can then be retrieved and read by any PIN-based application. Combined with the supporting metadata library, the Open Directory Protocol (“OIP”), Blockchain provides a new standard for publishing, indexing and monetizing any digital content. For this, it uses an algorithm similar to Bitcoin’s Proof-of-Work consensus mechanism.
What is a PIN? What does it do?
PIN, the native cryptocurrency of the Public Index Network platform, is a PoW token. In other words, users can do PIN mining thanks to their computers with high processing power. Miners earn passive income with cryptocurrency while ensuring the security and sustainability of the network. However, users have the freedom to store any metadata they want on the network. Metadata can be stored, published and indexed on the Ethereum-based Blockchain network.
What is the Public Index Network? How to get PIN?
The Public Index Network is currently traded on cryptocurrency exchanges such as Bittrex and Sun.io. Interested investors need access to these exchanges in order to purchase PIN coins.
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