You may have heard of the Phoenix Initiative: It started as an NFT game on Telegram. But it has now developed into an increasingly popular blockchain.
It has been created so that users can mint NFTs and gain rewards without paying sky-high gas fees. And it is expanding – morphing into an all-encompassing crypto solution.
To find out more about this futuristic ecosystem, read on!
What is Phoenix Blockchain?
Launched by a group of crypto enthusiasts, the Phoenix Blockchain is a crypto ecosystem running on an Ethereum Virtual Machine Phoenix Blockchain. It’s been created to become a one-stop shop for all your cryptocurrency needs.
It covers a dex swap (called Fireswap) as well as an NFT marketplace (called Firesea) and a merchandising store (called Fireswag).
As part of the ecosystem, there is a community token called CPHX (which is being called the world’s first “CommuTility” token by the Phoenix coin team) and a collaboration-focused Golden Ratio token.
How Does Phoenix Blockchain Work?
The crypto ecosystem works through several different initiatives. Firstly, its block explorer tracks statistics of transactions (including mining, token transfers, and NFT contracts).
Its two tokens – the Golden Ratio and CPHX – allow users to get involved with the ecosystem by gaining both voting rights and influence over the blockchain. As well as this, PHOENIX is presently air-dropped to each token holder, providing users with small gains.
The storefront, Fireswag, is for storing the NFT artist’s merchandise and has been designed to provide the artists with extended control over the way their business is conducted. Then there is also the decentralized exchange (DEX) Fireswap, where developers can use Phoenix Coin’s blockchain to create tokens.
Step-by-Step Guide to Using Phoenix Blockchain
There are two main ways to start getting involved in the Initiative:
1. For users looking to buy Phoenix Coin, go to the website, and click ‘Where to Buy’. You’ll see there are options to buy via Xeggex or Easy Connect. Click whichever platform you prefer and the link will take you through.
2. If you are interested in becoming involved in the Initiative’s community, go to the bottom of the page of the website and click the Telegram link. You’ll be taken to a website page where you can then access the Reddit page, and the wider Telegram community – and it’s in the Telegram app that the NFT games can be accessed.
Who is Phoenix Blockchain For?
The crypto ecosystem is for everyone, but artists, who can show their work in its marketplace FireSea, should find it particularly beneficial. It has been designed for fast and easy NFT sales, with reduced fees.
It’s also for game-lovers. Its two NFT games, Duck Hunt and Battle Ducks, which provide winners with in-game currency and a small amount of the Phoenix Coin.
What Makes Phoenix Blockchain Unique?
The crypto ecosystem has a unique combination of benefits: its capped gas fees allow for reasonably priced minting and it’s emphasis on creating a modern storefront further facilitates this. Token pairs can be made in Fireswag, which helps users to evade the usual cumbersome transactional fees.
Conclusion
This Phoenix coin started out as an NFT game, and although it has grown to become an all-encompassing ecosystem, the Initiative still very much has NFT focused benefits. Its blockchain facilitates the fast and easy sale of NFT artworks, has low fees and provides multiple coins.
So, if you are interested in NFT games, and being part of an ever-expanding ecosystem built for and by crypto enthusiasts, buy Phoenix Coin today!
FAQs
What Are the Gas Fees?
The gas is capped at 1 gwei of Phoenix for easy usage by crypto users. (Gwei is currently equal to around 0.000000001 ETH).
Is the Phoenix Blockchain Legit?
Yes, absolutely. The crypto ecosystem had its audit release in 2021, then gained its CMC listing and had a live AMA with its founder the same year. It has mechanisms in place, such as running a semi-open network, to protect itself from users who are trying to game the system.
How Does Phoenix Blockchain Protect Itself From Attacks?
The crypto ecosystem has been based on a Proof of Work (PoW) protocol – where members work together to prevent people from hijacking the system. The downside of PoWs is that they, in turn, can be vulnerable to attacks, so in response, the Phoenix Initiative runs a semi-open network.