Use Cases for PWR (Power) Coin
The PWR (Power) Coin, as the native on chain currency of MaxxChain, is required for sending and receiving payments, swapping for NFTs and on-chain Project tokens. Transactions are verified by miners and PWR (Power) Coins are rewarded with every block validated. Gas fees are extremely low in comparison to other Proof of Work chains and are well under $0.01 USD.
PWR (Power) Coin is used for all network gas fees when it comes to deployment of smart contracts, sending payments, swapping for tokens or NFTs. Miners work to secure the network while fees are extremely cost effective for a Proof of Work consensus in relation to other competitors. Block rewards are capitalized for verifiable transactions.
Integrity and Accuracy
PWR (Power) Coin under the Proof of Work consensus allows for the verification of accuracy of new transactions that are added to the public ledger. The integrity of data and accuracy allow for new coins to be rewarded to the validators thus offering an incentive of computational power to the network.
PWR (Power) Coin Supply
MaxxChain harnesses the PoW consensus mechanism, minting 5 coins with each successful block mined, with gas fees shared among miners. To maintain a balanced ecosystem, MaxxChain offsets newly minted coins through burn from fees implemented on on-chain utilities. Furthermore, the MaxxChain team has committed a substantial portion of the project treasury to extended coin burns for 2 years following chain deployment. This initiative includes a weekly burn of 1,201,600 PWR coins for the first 52 weeks, effectively offsetting the 201,600 PWR coins produced from mining, in addition to 1,000,000 PWR coins. Commencing with an initial supply of 1,000,000,000 PWR coins, the team has thus far burned over 75% of the supply, with the aim of restricting the circulating supply to enhance long-term price stability and security. For a full breakdown and updates of the pre-mined supply, please refer to our Knowledge Base.
How to buy PWR (Power) Coin
PWR coin is available for purchase on Coinstore, a centralized exchange. Additionally, decentralized users can exchange several top cryptocurrencies for PWR coin via the PWRSource Bridge by BlockBlend, an anonymous cross-chain bridge. PWR will also be available on the Ethereum network through an upcoming fairlaunch and will be backed 1:1 with the current supply of PWR coin.
We highly recommend to always secure your PWR (Power) Coin in your own hot wallet such as MetaMask, Coinbase Wallet or DiveWallet as this eliminates any custodial risks with exchanges. Additional security can be made by moving your coins to a Cold Wallet via MetaMask.