What is the PECU Coin Used For?
Uses of PECU: The Native Coin of the Pecu Novus Blockchain Network
PECU serves as the native cryptocurrency of the Pecu Novus Blockchain Network, offering a range of functionalities that support the network’s operation and ecosystem.
Here are some key uses of PECU
1. Transaction Fees
Primary Payment Method
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Transaction Costs: PECU is the primary currency used to pay for transaction fees on the Pecu Novus network. Every transaction requires computational resources to validate and process, and these costs are covered using PECU.
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Incentivizing Validators: Transaction fees incentivize validators to maintain the network by rewarding them for their computational efforts.
2. Staking & Governance
Network Security and Rewards
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Staking: Although Pecu Novus uses a Proof-of-Time consensus mechanism to validate transactions, there will also be options where PECU holders can stake their coins to contribute to the network’s security. By locking up their PECU for a certain period, they help strengthen and secure the network and earn yield rewards in PECU.
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Governance: Staking PECU may also grant holders voting rights on important network proposals. This includes decisions on protocol upgrades, fee structures, and other governance-related matters, allowing stakeholders to have a say in the network’s future.
3. Access to Services
Decentralized Applications (DApps)
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DApp Usage: PECU is used to access and pay for services within decentralized applications built on the Pecu Novus network. Users may need PECU to interact with these applications, such as executing smart contracts or utilizing specific DApp functionalities.
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Digital Marketplace: Within the Pecu Novus ecosystem, PECU can be used to buy and sell digital goods or services. This includes digital assets, collectibles, and other items available in the network’s marketplace.