We Will Cover The Differences & Use Cases For Both PHI.Network Social Media Wallet & PHI Smart Chains.
Used For Sending & Receiving Only To PHI.Network Usernames.
The Wallet Used To Mine PHI
Balance Is Completely Private
Simple To Use No Need To Save Private Keys.
Login With Password & Username
Instant Transaction Speeds
No Gas Fees
Ethereum Virtual Machine Interoperability
Build Tokenized Economies
Self Custodial
Build Decentralized Unstoppable Applications
Create Custom Crypto Tokens
Deploy Smart Contracts
Make Payments To Any EVM Compatible Wallet
Integratabtle Into Any Crypto Wallet
Super Computers That Run High Performance On Chain Applications
Opensource
Yes
To Deposit To PHI.Network Username Wallet Use This Form Here.
Select PHI As The Payment Method
Then In The Redemption Form Select PHI.Network Username Wallet As Chain Type.
To Withdraw from PHI.Network Wallet To Either Of The PHI Smart Chains
Use These Instructions Here:
Welcome to the PHI Smart Chain Docs & Glossary! Here you'll find everything you need to know about the Network.
Have Additional Questions Or Need Support Use PHI.Support
PHI Smart Chain is an open-source Decentralized Autonomous Economy (DAE), programable smart contracts platform built for decentralized and enterprise-level applications, in one highly scalable ecosystem. PHI Network is home for digital store of value, decentralized infrastructure, and applications, ready and built to scale for global usage and adoption. It is compatible and interoperable with Ethereum and other EVM networks, and Solidity is natively compatible, making it easy and quick for Ethereum developers to build, deploy, or fork from existing open-source infrastructure built on other networks. A noticeable difference between PHI Network and other decentralized networks is the structuring of our consensus protocol. It leverages on a novel concept named Hybrid Consensus Algorithm, and ensures decentralization, quick finality, and high throughput, without compromising on scalability and energy efficiency.
PHI- or Φ - is the native token of PHI Network. It is a low supply and scarce asset that is used to pay for usage fees, to secure PHI public ledgers, as a means of exchange, payment, and as a basic unit of account for applications and protocols. Validators receive Φ as reward for sealing a block, and part of the usage fees users pay for submitting transactions to the network's public ledger.
Powering Decentralized Infrastructure
Public Ledgers
PHI Smart Chain official public ledger, PHI Smart Chain (v2) Chain ID 144. Anyone can connect and use the public ledger.
PHI Network can also be deployed on a private and controlled environment, which is ideal for governmental, development, and enterprise-level applications. Our company also develops and maintains a full suite of applications that facilitate and promote the usage of PHI Network with privately controlled ledgers, that allows users to create and deploy a production blockchain with just a few clicks.
PHI Smart Chain leverages on the Ethereum Virtual Machine (EVM) for its smart contracts, and this means that its platforms, tokens, protocols, and dApps are compatible and interoperable with other networks that uses the same algorithm to calculate addresses, and EVM for smart contract compatibility. Some major examples of other networks that can be deemed compatible with PHI Network are Ethereum, Avalanche, Fantom Opera, and Binance Smart Chain.
Proof-of-Use (PoU) Consensus: Phi Network uses PoU as its consensus mechanism, rewarding network participants based on actual resource usage, which helps distribute rewards more fairly. PHI Smart Chains Use the Genesis Block For Validation Block Rewards Are Produced To Users Based On Participation. Users Contribute Assets & Are Rewarded PHI For Their Contribution.
PHI Smart Chain can achieve finality in just a few seconds, with a block size on average 100000x greater than most other blockchain networks. The structure PHI uses to validate and seal blocks also strongly influences the blocks' mining time. This allows better management of difficulty and hashpower to achieve optimal performance and consistency.
The security inherent to the PoW mechanism is present on PHI Network while still allowing it to enjoy all the benefits - including the low energy consumption - of PoS and PoA networks.
The greater block size, aligned with PHI's novel HCA mechanism, allows a consistent minimum of 9,995tps, and upwards of 1,000,000tps while processing raw transactions, compared to about 7tps on Bitcoin and 13tps on Ethereum (Eth1.0).
Smart Contract Compatible
PHI Smart Chain leverages the Ethereum Virtual Machine (EVM) to offer smart contract functionality, meaning it is 100% compatible with any platform coded in Solidity and/or deployed on any other EVM, making it possible for developers to migrate over.
The transaction costs are minimal, and PHI has influence mechanisms to ensure it always remains this way.
We Will Now Explore The Main Benefits Of The PHI v1 & v2 Smart Chains.
There Are Benefits To Both The v1 & v2 Smart Chains Which is Why PHI Has Two Smart Chains.
Below You Will See The Major Benefits Of Each.
V1 Chain:
Private, Fast, Low Cost Transactions. Built For Private Peer To Peer Transactions.
Benefits:
Private Focused Public Smart Blockchain Built For Fast Real Time Payments.
Block Explorer Does Not Openly Display Phi20 Token Balances
Transaction History Is Only Displayed To The Private Key Holder.
Can Handle Millions Of Transactions A Second.
V2 Chain:
Instant, Private & Extremely Low Cost Payments. Built For High Performance Enterprise Applications & Point Of Sale Merchant Payments.
Benefits:
3x-10x Faster Than v1 Chain
Fees Are 1000x Less Than v1 Chain
Developer Friendly
Modern Industry Standard Block Explorer (Phiscan.com)
Extensive Consumable API Library
Built For High Performance Applications
Wallet Balances Are Openly Displayed On The Block Explorer
Wallet Transaction History Is Publicly Available
