What is PQCN?
PQCN is the Utility/Native token of Post Quantum Network Blockchain, similar to ETH for Ethereum.
PQCN / the utility token of Post Quantum Network
PQCN Contract Address: 0x0DEa95a35220Fa04FC9F2b329b53171cA0191903
PostQuantumNetwork is the quantum-resistant Layer 1 hybrid blockchain platform that enables developers and enterprises to build quantum-resistant smart contracts, DApps, DeFi solutions, NFTs, tokens, and Metaverse projects on top of the PQN blockchain platform using any programming language.
All participants in the PostQuantumNetwork ecosystem need to hold PQCN Token(s) to engage in platform activities.
PQCN Token will fulfill its functional value when the PQN public blockchain goes live.
What is PQCN used for?
The PQCN Token has multiple functionalities for different utilities
Developers need to acquire PQCN Token(s) to pay for contract deployment.
DApp users need to purchase PQCN Token(s) to pay for executing methods of deployed contracts.
PQCN Token holders need to pay a transaction fee when transferring tokens.
Validators need to buy validation tickets with PQCN Token(s) to participate in the validation process.
Full-node Providers need to purchase a full-node license with PQCN Token(s) to become a full-node provider.
Rewards such as smart-contract royalty fees, validation and full-node provider rewards, token challenge, and bug-bounty rewards are paid to ecosystem members in PQCN Token(s).
TOKEN FUNCTION 1
Payment for contract deployment
Developers must pay a fee to deploy new smart contracts on the platform. This fee is paid in PQCN Token(s), and the amount relates to the size and complexity of the deployed contract.
TOKEN FUNCTION 2
Payment for executing methods of deployed contracts
Application (DApp) users may need to pay a fee for using certain smart contract functions if the operation causes data to be written to the blockchain. This fee is paid with PQCN Token(s) and may relate to the length of the data written and the complexity of the executed smart contract function.
TOKEN FUNCTION 3
Payment for fees of token transfers
When users send PQCN Token(s) as a value transfer to another address, they must pay a transaction fee. This is a flat fee and does not correlate to the amount of PQCN Token(s) sent during the transaction.
TOKEN FUNCTION 4
Payment for validation tickets
A potential validator needs to pay a deposit fee to enter the pool of validators who have the right to validate the following block. Validators ensure the integrity of transactions by validating the blocks based on the Proof-of-Stake (POS) consensus mechanism. When a particular validator wins the validation process, they also receive all the coins as rewards from the Issuance Pool.
TOKEN FUNCTION 5
Payment for full-node provider registration
Full-node providers continuously run the Post Quantum Network software on a capable device, providing storage space for the network. To join the network as a Full-Node Provider, developers/providers need to pay a registration fee using PQCN.
TOKEN FUNCTION 6
Rewards are paid in PQCN Token
Rewards such as smart-contract royalty fees, validation and full-node provider rewards, token challenge, and bug-bounty rewards are paid to ecosystem members in PQCN Token(s).
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