Road Town, British Virgin Islands--(Newsfile Corp. - January 16, 2025) - In a significant move for cryptocurrency enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of PHI (PHICOIN) on January 16, 2025. The PHI/USDT trading pair (https://www.lbank.com/trade/phi_usdt) is now available to users of LBank Exchange.
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The Proof-of-Work (PoW) consensus mechanism has been foundational to blockchain technology. PoW ensures network security through computational puzzles solved by miners, who validate transactions and maintain the ledger. However, as PoW networks matured, challenges such as mining centralization, high energy consumption, and hardware inequality emerged. ASICs and FPGA devices dominate mining, sidelining ordinary users. The need for a decentralized, fair, and accessible PoW solution has become evident, inspiring projects like Phicoin to innovate and address these shortcomings.
Phicoin: Redefining PoW Mining with Fairness, Performance, and Sustainability
Phicoin is a high-performance cryptocurrency designed to revitalize PoW's decentralized ethos. With a mission to ensure equitable participation, Phicoin empowers users with consumer-grade hardware to contribute to the network. Its vision centers on sustainable growth and building robust infrastructure for decentralized applications. Phicoin's innovative design promotes ASIC and FPGA resistance, ensuring fair mining opportunities for gamers, small-scale miners, and everyday users. By aligning with technological advancements, Phicoin aims to create a vibrant, evolving ecosystem that balances accessibility, efficiency, and decentralization.
Phicoin's blockchain is engineered for performance, scalability, and fairness. The network supports 1,092 transactions per second (TPS) with a block time of 15 seconds and a block size of 4 MB, ensuring efficiency for modern financial applications. The genesis block, created on November 16, 2024, includes the message: "The Times 11/06/2024: Donald Trump wins US election 2024," emphasizing transparency and immutability. To future-proof the network, the Directed Acyclic Graph (DAG) grows annually by 25%, phasing out outdated GPUs with less than 4 GB VRAM. This gradual growth ensures that the network remains efficient and accessible, aligned with the progression of GPU technology.
Phihash, Phicoin's innovative PoW algorithm, integrates Ethash and KawPow/ProgPow features to ensure ASIC and FPGA resistance. The algorithm employs FP32 floating-point computations to fully utilize GPU capabilities and the Permuted Congruential Generator (PCG) for enhanced randomness. Its dynamic difficulty adjustment stabilizes block production, while the 25% annual DAG growth phases out obsolete hardware, maintaining fairness and decentralization. By anchoring mining requirements to the memory capacities of consumer-grade GPUs, Phihash fosters equitable participation, enabling gamers and small-scale miners to compete effectively with larger operations.
Phicoin Tokenomics
Phicoin's tokenomics balance sustainability with fair rewards for miners. With an unlimited supply model, PHI ensures continuous participation. Initial block rewards start at 5 PHI, halving to 2.5 PHI in the second year and stabilizing thereafter. This inflation control maintains network security and encourages long-term engagement. The 25% annual DAG growth aligns with GPU advancements, ensuring compatibility with modern consumer hardware while discouraging outdated, inefficient equipment. By promoting a sustainable and accessible mining ecosystem, Phicoin ensures that decentralization remains at its core, creating an equitable and resilient foundation for PoW cryptocurrencies.
Phicoin Innovations:
Phicoin supports a wide range of decentralized application expansions, including DeFi and decentralized DDNS. Decentralized DDNS is the key application Phicoin aims to promote in the next phase of its decentralized app ecosystem. This innovation will provide users with more secure, efficient, and reliable domain name services. By driving such advancements, Phicoin continues to foster deeper integration of blockchain technology into decentralized ecosystems, laying a solid foundation for building a more open and efficient decentralized application infrastructure.
Learn More about Phicoin:
Website: https://phicoin.net
X: https://x.com/PhicoinNet
Telegram: https://t.me/phicoin_official
Whitepaper: https://arxiv.org/html/2412.17979v1
Innovation(DDNS): https://arxiv.org/html/2412.01959v2
About LBank
Founded in 2015, LBank is a top crypto exchange offering financial derivatives, asset management, and secure trading. With over 15 million users across 210+ regions, LBank ranks in the top 20 for spot trading and top 15 for derivatives trading globally, ensuring fund integrity and supporting global crypto adoption.
Leveraging its acute market insight and expertise, LBank always takes the lead in spotting and listing Alpha altcoins. The platform was among the first to list popular gem coins like BONK, BOME, and FLOKI, as well as emerging favorites like NEIRO, MOODENG, GOATSEUS, and PNUT.
Start Trading Now: lbank.com
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Press contact:
press@lbank.com
Business Contact:
LBK Blockchain Co. Limited
LBank Exchange
marketing@lbank.com
business@lbank.com
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SOURCE: LBank
