Frequently Asked Questions
Find answers to general questions about PKT Pal and common troubleshooting. If you don’t find what you are looking for please contact us at support@pktpal.com
About PKTPal
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.
What is PKT Cash?
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 is the PKT Cube?
Is the PKT Cube safe?
How much electricity does PKT Cube use?
How to track PKT Cube’s bandwidth usage?
Where to keep the PKT Cube?
Why is the PKT Cube important to PKT
How much money will I make with the PKT Cube?
How do I buy or sell PKT?
PKT is currently listed on Bittrex Global (non-US) and Bitmart (US/Global). You can send your coins from your PKT Cube to the exchange or buy PKT from the exchange and transfer them to your PKT Wallet on your PKT Cube.
What other wallets are available?
There are 2 main wallets for PKT, one is the pktwallet that is in the pktd github. The other wallet is PKT Electrum, which was developed as part of a Network Steward funded project. There is an ongoing project to develop a new wallet based on MatterFi / OpenTransactions. All of these wallets are open source so anyone who wants to continue development of these wallets is free to do so.
What wallet do I use for mining?
For mining it’s recommended to use the command line PKTWallet due to the amount of mining transactions and it’s ability to scale. If you use a Mac then you can also use the PKT-Cash-Wallet for MacOS.
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 will the growth in mining impact the coin?
What is value proposition of PKT?
The PKT project is focused on building a decentralized bandwidth marketplace to decouple the business and technical aspects of internet service from the physical aspect of maintaining infrastructure. The fundamental value is division of labor and lowering the barrier of entry for internet service competition.
What other features will the PKT Cube have?
The differentiating factors vs. Bitcoin and other crypto coins?
The differences from Bitcoin are: PacketCrypt bandwidth hard proof of work replaces SHA-256 1 minute block time 6 billion coins total Mining yields decrease 10% every 100 days in what is called the decimation 20% of each mined block goes to the Network Steward wallet, which funds R&D of the ecosystem
What are the applications and software currently being explored?
A free to use VPN service is called AnodeVPN will be launched in 2021, and users can pay for their VPN speed with PKT Cash. Internet bandwidth sharing and mesh networking are also currently in the stages of development.
Who stands to benefit the most from growth and adaption?
The early miners and adopters of PKT will benefit greatly. PKT also benefits everybody because it will lead to a lower cost and highly competitive internet service ecosystem.
How to trade PKT Cash
PKT Network
What is the Network Steward?
The Network Steward is part of the consensus rules of the PKT blockchain. 20% of every newly mined block goes to an wallet address and then those coins are 100% paid out in grants to help build open-source technology and develop the PKT Network. Network Stewards funds must be deployed within 90 days or else they are 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. More information can be found [here]: (https://pkt.cash/network-steward)
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 helped to fund.
Has the Network Steward burned any funds?
You can check out the stats on burned coins in the block explorer Network Steward page.
Has any branding or marketing already been 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 for technology or for marketing? How do I submit a proposal?
Here is a detailed explanation in the Network Steward’s Github. Be sure to check the 10 critera.
Are any brand ambassadors already engaged?
PKT is not a centralized project so anybody can be an ambassador. There are a number of companies and initiatives which currently exist in the PKT ecosystem including AnodeVPN and Pkt Pal.
Are there any regulatory or compliance liabilities?
PKT is a fully decentralized fork of Bitcoin, so it is similarly considered to be a commodity.
What do you see as the greatest challenge to PKTs long-term success?
Historically, crypto projects achieve the best results when they are focused on use cases and utility. PKT is focusing on building a decentralized bandwidth marketplace where people can earn PKT with their internet and use PKT 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 has been mining PKT similarly to everybody else in the project.
Is there an easy way to start mining?
There are mining instructions for mining on the PKT website. PktPal is a business in the community which offers turn-key mining solutions.
Do 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 Cloud ISPs on Twitter. The role of a Cloud ISP is to perform the technical and administrative aspects of internet service so that the aspects of infrastructure operation can be done by individuals, small businesses and community groups.
