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Casper, WY 82609
Casper, WY 82609
PKT PAL © Copyright, 2021
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
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.
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.”
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.
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.
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.
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.
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 and more accessible.
PKT is a decentralized project like Bitcoin, not a centralized token. Community members are having conversations with different exchanges and you can do it too. There are not more details about the particular listing initiatives.
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.
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
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.
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.
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.
A group of 5 volunteers including the original author of the code. More information can be found [here]: (https://pkt.cash/network-steward)
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.
You can check out the stats on burned coins in the block explorer Network Steward page.
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.
Here is a detailed explanation in the Network Steward’s Github. Be sure to check the 10 critera.
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.
PKT is a fully decentralized fork of Bitcoin, so it is similarly considered to be a commodity.
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.
Because PKT is a fully decentralized clone of the Bitcoin codebase, the legal and regulatory framing is probably similar.
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.
There are mining instructions for mining on the PKT website. PktPal is a business in the community which offers turn-key mining solutions.
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.
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.