Giá Protocon (PEN)

What Is Protocon (PEN)?

**Protocon** is short for **Protocol Economy Network**, a web 3.0-based Layer 1 public blockchain Platform.
The goal is to establish a protocol-based economic system that can provide blockchain that is free to anyone and has no boundaries to anyone.

For this purpose, the platform provides 1) up to 5,000 tps of decentralized algorithms, 2) Contract Models that modularize various blockchain functions such as tokens, NFT, data management, DID, and voting functions, 3) FeeFi that solves complex and difficult blockchain fees and provide automatic fee swap & staking features, 4) various mainnet bridges that can interact with the entire blockchain ecosystems.

PEN is the native utility token that is used for:
**Means of Payment (transaction fees)**
The PEN token functions as a kind of ‘gas’ within the Protocon ecosystem, as a means of payment for mainnet transaction fees, such as using dApp services or transferring dApp tokens.
**Means of Payment (Purchasing dApp tokens)**
PEN tokens function as a payment method for purchasing dApp tokens for individual dApps based on Protocon blockchain, including BlockSign and Blockcity, which will be released in the future.
**Deposit for FeeFi participation**
PEN token holders can become FeeFi liquidity providers by depositing more than a certain level of PEN tokens. In return, liquidity providers can exchange individual dApp tokens and PEN tokens at favorable rates.
**Staking for node operation**
PEN token holders can become node operators of the blockchain network by staking a certain amount of PEN tokens as collateral, and the node operators receive compensation (rewards) in PEN tokens.
**Participation in governance**
PEN token holders who deposit PEN tokens for FeeFi participation or staked PEN tokens for node operation can participate in the governance of the blockchain network.

What Makes Protocon Unique?
Implementation of decentralized network technology based on PBFT algorithm Based on the self-developed consensus algorithm (ISAAC++), Protocon has prepared technical alternatives to implement a decentralized network while securing the processing speed and efficiency, which are the advantages of the PBFT-based consensus algorithm.

**Here's an overview of this technology:

In order to check whether or not it is an intact node, a verification process through the Acting Suffrage Group is included during the consensus process. This verification process is also used as information to exit the node.
In addition to the Suffrage Group participating in the consensus process, Protocon have implemented a method that continuously checks whether the Candidate Group is intact, and allows the intact candidate node to automatically participate in the Suffrage Group instead of the expelled node. In other words, it has been implemented so that problematic nodes can be replaced periodically in the network live state.

Introduction of **'Contract Model'** as a new smart contract methodology
The Contract Model can be defined as a 'framework that utilizes blockchain core functions' and is a modular set of functions that handle operations required by a specific business. In general, smart contracts need to be developed for each service, whereas the model modulates and provides the necessary blockchain functions for each industry as a framework, making it easier and faster to develop blockchain application services.