Planq
What is Planq
Planq is a blockchain focused on mobile platforms. Planq is OS-independent and works on every mobile device.
More than half of the world's population does not have access to a desktop or laptop computer. On the other hand more than 80% have access to a cell phone. This means that those who only have access to a phone or other mobile device could theoretically use Planq's blockchain to interact with DApps , DeFi apps and other mobile users without using a desktop computer.
The Planq’s model removes barriers and invites range of users from a wide variety of communities to interact with blockchain. The impact will be felt in everything from peer-to-peer exchanges to DApp and DeFi development.
Planq is built on existing solutions including Web3, the Ethereum Virtual Machine (EVM) and the Tendermint consensus which have already successfully met their core objectives.
Planq's EVM infrastructure means that Ethereum-based smart contracts will run immediately on the Planq platform. This allows users and developers accustomed to the Ethereum ecosystem to interact with the platform seamlessly.
Due to Planq’s built in Tendermint technology users have all the resources needed to develop blockchain-based applications. Also Planq’s PoS design provides possibility for users to be active consensus mechanics participant as well as to develop blockchain solutions right from their cell phone.
In the near future developers at Planq will release a wallet app that integrates a full-featured wallet into one app as well as a gateway or hub that will allow this and other apps to interact with the blockchain. As a result it will be easier for developers to create solutions on the platform. Over time more and more tools will be added to the libraries making development faster and more efficient.
Usage Scenarios
Safe communication
It's important to keep messages private whether you use blockchain or not. With Planq users will be able to encrypt their messages protecting them from third parties who might want to intercept or interfere with communication.
As a result you can share all kinds of information including sensitive data through the Planq platform without worrying about someone stealing your data.
Instant funds transfering
Another key feature of Planq's solution is the ability to send crypto assets to other users directly in the chat app. The app simply integrates with your cryptocurrency wallet making it easy to transfer funds to whoever you're chatting with. There is no need to leave the app and go to another platform or website to send crypto-assets.
Building applications in developing countries
With Planq anyone can develop a simple application that allows users to send, for example, medical information about the patients as well as payment information, treatment progress and prescription data; or create an application to pay for goods and services simultaneously with encrypted communication in countries where the banking system has not reached. High speed, low fees, confidentiality are the main advantages of using such applications.
Technical features
Block creation time
The average block creation time on Planq is 5 seconds. This makes an advantage for users especially those who use Planq on the road or traveling. Applications will provide the stated performance even in case of bad internet. Transactions are instantaneous and do not require a constant high-quality connection.
Inflation
Inflation at Planq should range from a minimum of 7% to a maximum of 20% per year. It varies dynamically depending on how many coins are staked.
Staking
To meet its primary goals Planq team set an initial goal of 30% of all coins need to be staked. In this case network performance will be at a high level, the network infrastructure will be supported as it should, and the end-user experience will be enhanced.
Decentralization
Planq's governance infrastructure allows all holders to vote on the operation of the network. This means that ordinary investors have the right to make decisions about parameter changes and other modifications to the network or its policies.
Tokenomics
The initial supply of PLANQ is 100,000,000 $PLANQ. Within the first year, this will increase by 13,500,000 $PLANQ for a total of 113,500,000 $PLANQ. While minted, not all tokens will be in distribution straight away. Inflation will be distributed to stakers and validators of the $PLANQ blockchain as block rewards.
First 100 million $PLANQ minted at genesis will be distributed & unlocked over a +- 2-year timespan.
The minted supply (blue line) is locked up, and at the end of each month, approximately 3,7% of the token will be distributed between:
The founders/team: 833K Per month
The Treasury: 1M per month
The community pool: 1M Per month
Advisors: 872K per month
This brings us to a token unlock of 3,705,000 (or 3,7% of total genesis supply) tokens a month, not including inflation.
All tokens from genesis will be unlocked in February 2025, if tokenomics do not change from governance before that date, a new proposal will be made to fund the pools above.
Block Rewards
As for block rewards, 2% of all block rewards are sent to the community pool. 98% will be distributed to stakers and validators of the $PLANQ network. For further insight in how the PLANQ framework distributes staking rewards, click here.
Community pool
1 Million tokens were donated to the community pool in December. These 1 Million came from the block rewards the Foundation validator received in the first month of its lifespan.
Roadmap
Castrum
Planq has developed the Castrum app for confidential and secure communication. In January 2023 users will be able to test the app and give their feedback.
The main purpose of the application is confidential communication and token transfer.
Inside the application there is the possibility to use popular Dapp`s (exchangers, games, marketplaces, social networks, DeFi applications, etc.).
The settings in the app allow you to customize your privacy, arrange private communication and joint chats.
We have tested the possibility of tokens transfer.
Castrum automatically detects the language of the system and switches the application language.
In the near future users will be able to test everything themselves and give their feedback.
Links
Web-site: https://planq.network/
Twitter: https://twitter.com/PlanqFoundation
Reddit: https://www.reddit.com/r/planq_network/
Discord: https://discord.com/invite/jGTPyYmpsq
Docs: https://docs.planq.network/
GitHub: https://github.com/planq-network/
Validators: http://explorer.creeptah.xyz/planq/staking
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