- What is PKT?
PKT allows users to monetize their unused internet bandwidth. By participating in the PKT Network you are helping to build a faster, stronger, and more secure, decentralized network.
Who is PKT?
PKT is a native mined coin based on an open source project. There are multiple companies in the PKT ecosystem but no company "behind PKT."
What wallet do I use for mining?
Where can I buy or sell PKT?
Currently there is a PKT Trading Chat, where you can buy and sell PKT until PKT is listed on an exchange. Please follow the guidelines of the chat to keep you safe.
How is PKT mined?
PKT is mined using the novel PacketCrypt bandwidth-hard mining algorithm which requires bandwidth to mine. It uses a combination of CPU and bandwidth, you get an advantage by working together with other miners which requires bandwidth.
How the growth in mining will impact the coin?
As more people mine PacketCrypt, they will need to invest in more network infrastructure which will become useful later on for making the internet faster.
What is the path towards being publicly listed on exchanges?
PKT is a decentralized project like Bitcoin, not a centralized token. There are certain community members having conversations with different exchanges and you can do it too. We don't have any more detail about the particular listing initiatives which community members are doing.
The value proposition of PKT?
The PKT project is focues on building a decentralized bandwidth marketplace to decouple the business and technical aspects of internet service from the physical aspect of maintaining infrasstructure. The fundimental value is division of labor and lowering the barrer of entry for internet serivce competition.
The differentiating factors vs. Bitcoin and other crypto coins?
The differences from Bitcoin are:
- PacketCrypt bandwidth hard proof of work
- 1 minute block time, 6 billion coins total
- Mining yields decrease 10% every 100 days
20% of all blocks go to Network Steward to fund buildout of the ecosystem
The applications and software currently being explored?
A VPN, internet bandwidth sharing and mesh networking are all currently in the works.
- Who owns or who stands to benefit the most from growth and adaption?
The early miners and adopters of PKT benefit a lot but PKT also benefits everybody because it will lead to lower cost and highly competitive internet serivce ecosystem.
What is the Network Steward?
A Network Steward is part of the consensus rules of the blockchain, 20% of every newly mined block goes to an address, coins issued to this address must be deployed within 90 days or else they are permanently burned. This address was initially set to multi-signature group but it can be changed by a PoS based vote process.
Who is the Network Steward currently?
A group of 5 volunteers including the original author of the code.
- How is the (current) Nerwork Steward using the funds?
The Network Steward follows a project evaluation process.
No funds have ever been deployed except to fund projects which were proposed by members of the public in an open competitive process. The Network Steward operates with full transparency, every transaction made by the Network Steward can be seen in the block explorer and is refered in the Network Steward's github repository explaining the project which that transaction helpd to fund.
Has the Network Steward burned any funds?
You can check out the stats on the block explorer's Network Steward page.
Has any branding or marketing already completed?
PKT is a decentralized project so there is no official brand for PKT, however the website pkt.cash, logos, and other materials were developed as part of a Network Steward funded project and are usable under the Creative Commons license.
What is the process to apply for R&D or coins for marketing? How do I submit a proposal?
Here is a detailed explanation in the Network Steward's Github.
- Any brand ambassadors already engaged?
PKT is not a centralized project so anybody can be an ambssidor, however there are a number of companies and initiatives which exist in the PKT ecosystem such as Anode and PktPal.
- If I were to incentivize adoption through my app, how can I make this go viral? How it would work? Would everyone need a coin wallet?
There are 2 main wallets for PKT, one is the pktwallet that is in the pktd github and the other an Electrum based wallet which was developed as part of a Network Steward funded project. There is an ongoing project to develop a wallet based on MatterFi / OpenTransactions and all of these wallets are open source so anyone who wants to embed one of these wallets in an app is free to do so.
- Are there any regulatory or compliance liabilities?
PKT is a fully decentralized clone of Bitcoin so it is similarly considered to be a commodity.
What do you see as the greatest challenge to PKTs long-term success and hitting $1?
Historically, crypto projects achieve the best results when they are focused on utility, and PKT is focusing on building a decentralized bandwidth marketplace where people can earn PKT with their internet and use it to pay for connectivity. The greatest challenge is getting the next billion people connected to the internet.
What legal disclosures need to made with investments into this? Or are there none?
Because PKT is a fully decentralized clone of the Bitcoin codebase, the legal and regulatory framing is probably similar.
Who is the creator? Is he actively involved? What's his ownership?
PKT was created by Caleb James DeLisle, the creator of cjdns. Cjdns is the only decentralized mesh networking protocol which is designed to function in even if some of the nodes in the network are adversarial. Caleb mined PKT similarly to everybody else in the project.
Is there an easy was to start mining for a novist?
So will miners mining on a single pool have any benefit over miners mining on multi pool?
Multi-pool mining means submitting the exact same announcements to multiple pools so if you have the bandwidth available it will always benefit you to mine all of the major pools.
- What is a Cloud ISP?
There is an explanation video about that on Twitter. The role of a Cloud ISP is to perform the technical and administrative aspects of internet service so that the manual aspects of infrastructure operation can be done by individuals, small businesses and community groups.