Utility

Understanding Utility

Utility refers to the various use cases and functions of a blockchain network, including tokens or coins within their respective ecosystems. For example utility tokens can be used for transactions, paying fees, accessing platform features, or participating in governance. The scalable utility of Pecu Novus as a blockchain network is the ability to have various applications and layer-2 networks built on top of the network across various industries, solving inherent issues that may exist.

Pecu Novus Utility

Transaction Fees

  • Core Utility: PECU is the primary method for paying transaction fees on the Pecu Novus blockchain network. Members use PECU to cover the cost of any fees across platforms built on the network, as well as any computational resources required to validate and process their transactions. The utilization of the network for cross-border payments, as a standalone platform or integrated into existing financial systems, is a key element, the speed, security and scalability play a vital role.

Staking & Governance

  • Staking Rewards: PECU may be able to be staked by holders to earn rewards and contribute to the security of the network. Since Proof-of-Time is the consensus mechanism utilize there is no staking involved to host a node.
  • Governance: PECU holders may have voting rights on proposals related to the network’s development. The number of PECU coins held could determine voting power, allowing holders to influence decisions on future developments and changes within the network.

Layer-2 Private and Public Blockchains

  • Private Blockchain: Pecu Novus could be integrated into existing systems across various industries to fortify the integrity of data in a controlled environment as a layer-2 blockchain. The private institution benefits from the speed, security and transparency of the blockchain while also having the ability to access the additional utility of Pecu Novus such tokenization for financial products.
  • Public Blockchain: Approved groups could create a standalone layer-2 blockchain that inherits all the attributes of Pecu Novus, which would give them the ability to utilize certain utilities of the mainnet such as tokenization, integration into payment systems and more.

Access to Services

  • DApps & Services: Developers are incentivized to build decentralized applications (DApps) and services on the Pecu Novus blockchain. PECU is used to access these DApps or pay for services within them.
  • Marketplace Transactions: PECU is used in digital marketplaces built on the Pecu Novus Blockchain Network. Members can buy and sell digital products and services using PECU. Payment portals are being developed to facilitate broader usage similar to lightning network-like protocols.

Store of Value

  • Store of Value: PECU is considered a store of value as the adoption of Pecu Novus grows, akin to Bitcoin or other cryptocurrencies. Holders may expect its value to appreciate over time.

Cross-Border Payments

  • Cross-Border Payments: PECU could facilitate faster and cheaper cross-border payments compared to traditional methods, leveraging blockchain technology’s efficiency. This makes PECU an attractive option for international transactions, reducing the time and cost associated with cross-border transfers.
PECU serves multiple roles within the Pecu Novus ecosystem:
  • Transaction Fees: Primary method for paying transaction fees.
  • Staking & Governance: Used for staking to earn rewards and participate in network governance.
  • Access to Services: Access DApps, services, and digital marketplaces.
  • Store of Value: Considered a valuable asset expected to appreciate over time.
  • Cross-Border Payments: Facilitates faster and cheaper international transactions.
These utilities underpin the functionality and value proposition of the Pecu Novus Blockchain Network, making PECU a versatile and valuable asset within its ecosystem.