Crypto Academy Season 2 Week 3 Homework Post for (@imagen) - Blockchain Project || PAYEI Blockchain

It is a beautiful week again attending @imagen lecture. This week, the assignment task is to create a blockchain project. The post as to be creative and at the same time fictional. I will be giving it a try but first I need to make a disclaimer.

"The content in this post is only for information purposes only and most of the names mentioned are fictional.

Blockchain Project Payei Blockchain
Consensus Mechanism POU
COIN NAME and TICKER PAYEI
COIN VALUE Pegged to $1

PAYEI WHITEPAPER

Introduction

Payei is a new blockchain designed to enable a decentralized medium of payment at fast speed and with almost Zero (0) transaction fee. Providing accounts, decentralized databases, limitless transactions at the least expected transaction fee with the lighting speed.

Unlike centralized banks and payment companies such as PoyPol, and so on who perform transaction in minutes, Payei will achieve ease in transactions as well as speed as a result of reducing latency to 0.5 seconds thereby allowing millions of trasactions per seconds, and almost eliminating per-transaction fees as fee is 1/1000000 Payei, no matter the size to be transferred.

Consensus Mechanism

Currently, on the blockchain, only one consensus mechanism can meet the speed Need and that is POU (Proof of Use). The proof of Use consensus allows for easy verification of blocks which means every phone or system using the service is directly a miner. With this, it is more decentralized and it makes everyone a miner and eliminating centralization.

Tokenomy

1,000,000,000 tokens will be premined. Token will not be sold in ICO or any IEO, since there is no profit to be made after purchase but rather the coin is to facilitate transactions. 10% of the coin will be used for advertising and marketing purposes, 10% will be allocated to team members locked for 6 years, 10% will be allocated for listing purposes.

Token Price

Token will be sold at 1 PAYEI to $1 at major exchange such as Krokon, Bonnoice, and Heeby. We will be looking into on other major exchanges as well.

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Road Map

Q2, 2021: Launching of Beta application
Q3, 2021: Launch of main network
Q4, 2021: Listing on Major exchange
Q1, 2022: Marketing
Q2, 2022: Launching of Marketplace to allow improve use of PAYEI.

About the Team

Chief Executive Officer: Adukunle Oluwatobiloba (@oluwatobiloba)
Cheif Operating Officer/Co-founder: Penny George
Chief Technology Officer: Brian Brause
Marketing: Fred Thomson

Contact Us:

Web address: www.payei.com
Twitter: @Payei_blockchain
Facebook: payei_blockchain

Conclusion

After writing my project, I fell in love with the universal coin to transfer funds from one person, in a location to another person in another location. I am really glad to be a part of this assignment.