What is the Pecu Novus Coin (PECU) used for?
PECU is the native utility token of the Pecu Novus network, playing a crucial role in facilitating various functions within the ecosystem. Here’s an overview of how PECU is utilized:
Transaction Facilitation
-
Medium of Exchange: PECU is used as a primary medium of exchange within the Pecu Novus network. Users can transfer PECU tokens between wallets quickly and securely.
-
Transaction Fees: PECU tokens are used to pay for transaction fees on the network. This incentivizes validators to process transactions and maintain network security.
Smart Contracts
-
Execution: PECU is used to execute smart contracts on the Pecu Novus platform. Smart contracts are self-executing contracts with the terms of the agreement directly written into code.
-
Gas Fees: Similar to Ethereum’s gas fees, PECU tokens are used to pay for the computational power required to execute smart contracts. This ensures that resources are allocated efficiently and prevents spam on the network.
Governance
-
Voting Rights: PECU token holders have the right to participate in the governance of the Pecu Novus network. This includes voting on proposals for network upgrades, changes to the protocol, and other critical decisions.
-
Decentralized Governance: By distributing voting power among PECU holders, Pecu Novus ensures that the network is governed in a decentralized manner, reflecting the collective interest of the community.