|Industry:||Payments / Currency|
|ICO Timeframe:||01/10/18 – 01/30/18 (Presale & ICO)|
|Token Supply:||15,000,000 PSC (50% Crowdsale)|
Phoscoin is a decentralized cryptocurrency designed for everyday use, with fees so low “you will not even notice that you are paying them,” explains the official whitepaper. Phoscoin also has an anonymous blockchain that prevents anyone from seeing transaction details or your wallet funds. In terms of fees, Phoscoin claims users can expect to pay a fee of around $0.0001 per transaction, which is obviously significantly lower than the fees paid by networks like Bitcoin. The development team claims you’ll pay that fee whether you’re transferring $0.5 worth of PSC or $1 million. Once you own the coin, you’ll be able to hold it and spend it from your wallet (a mobile app). The app has not yet been released, but is expected to be available for download at the beginning of 2018 (the whitepaper lists a launch date of January 25 for the Android app and January 30 for the iOS app).
PROS: Extremely fast (30 second block time as compared with Bitcoin’s 10 minutes), cheap to transact, claims to address privacy concerns better than Bitcoin.
CONS: Extremely discounted coin values for presale investors may lead to pump-and-dump trading, highly competitive marketplace within the payments sector, wallet has yet to launch, lack of advisory board, not a “full-time” team in place at the moment.