PSC Token Effectiveness

Protect the network

The main use of PSC tokens on PolySmartChain is to protect the network through a proof-of-stake system. Verifier nodes need to pledge their PSC and in return for their services, the nodes will receive block rewards and fees. In addition to preventing centralization, the system is also environmentally friendly.

Payment

Due to the high throughput, fast certainty and low fees of the PolySmartChain network, PSC tokens are perfect for sending and receiving payments. On PolySmartChain, payments take about 1 second and cost about $0.0000001.

On-Chain Governance

PSC is required for on-chain governance. Because PolySmartChain is a completely permissionless and leaderless decentralized ecosystem, any decision regarding the network is executed by on-chain governance. Through governance, stakeholders can propose and vote for changes and improvements, and PSC is the governance token required to participate in the voting process.

Network Fees

PSC are used to pay for network fees, such as transaction fees and the cost of deploying smart contracts or creating new networks. Without minimal barriers, the network will be an easy target for spam, which will eventually affect performance and populate the ledger with useless information. On PolySmartChain, the fees are very inexpensive, but enough to make it extremely expensive for malicious actors to carry out attacks.