Phoenix Global [v2]

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Discover Phoenix Global [v2]'s fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Phoenix Global [v2]?

Phoenix Global [v2] (PHB) is a consumer-driven protocol that supports the development of decentralized consumer applications (DApps) on the Binance Smart Chain. It integrates blockchain technology with AI, multi-party computation, and smart IoT capabilities to enhance customer experience and provide data-driven insights. The protocol includes features such as decentralized AI, on-chain analytics, and a proprietary oracle, making it suitable for various use cases including retail, financial services, and healthtech.

How is Phoenix Global [v2] used?

Phoenix Global [V2] (PHB) is primarily used as a decentralized AI federated learning and integration platform. It hosts next-generation consumer-focused decentralized applications (DApps) on the Binance Smart Chain (BSC). Key features include:

  • Decentralized AI: Federated learning and integration with mainstream AI frameworks.
  • Multi-party computation: Analyze, compute, and share value without compromising data privacy.
  • Smart IOT: Facilitate decentralized edge-computing mechanisms on IoT and smart devices.
  • On-chain analytics: Fully blockchain-native Web 3 apps with on-chain data computation and analytics capabilities.
  • Phoenix Layer 2: Acts as a computation layer for privacy-preserving data processing and bridges on-chain protocols with off-chain data and AI models.

These features enable various use cases such as:

  • Retail: Create new Web-3 based customer engagement and CRM models.
  • Financial Services: Strengthen customer AI-scoring models without compromising data privacy.
  • Consumer IoT: Enhance decentralization and interactivity of existing consumer IoT apps.
  • Supply Chain: Increase on-chain computational and analytics resources of existing blockchain apps.
  • Healthtech: Smart personal health apps with data-driven personalization and analytics features.
  • Web3 Gaming: Enable AI capabilities, including using fast-reacting reinforcement learning models.

How do I store Phoenix Global [v2]?

To store Phoenix Global [v2] (PHB) tokens, you have two primary options:

Store on an Exchange

You can store your PHB tokens on a cryptocurrency exchange. This method provides easy access to various investment products and features, such as spot and futures trading, staking, and lending. The exchange will securely hold your funds, eliminating the need to manage and secure your private keys. However, it is crucial to choose an exchange with robust security measures to ensure the safety of your assets.

Use a Non-Custodial Wallet

For enhanced security, you can withdraw your PHB tokens to a non-custodial wallet. This type of wallet grants you complete control over your private keys, ensuring that you have full ownership of your assets. You can use hardware wallets, Web3 wallets, or paper wallets. Keep in mind that this option may be less convenient if you plan to trade your PHB frequently or use them for staking or lending.

How to buy Phoenix Global [v2]?

To buy Phoenix Global [v2] (PHB) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports PHB, such as Coinbase Wallet, MetaMask, or TrustWallet. Ensure the wallet is suitable for your trading preferences and payment methods.

  2. Set up your Wallet: Create an account, provide personal information, and set a strong password. Note down the Secret recovery phrase or Seed Words carefully for future reference.

  3. Buy a Base Currency: Choose a cryptocurrency exchange platform and buy a base currency like Bitcoin, Ethereum, or Tether. This will be used to trade PHB.

  1. Transfer Funds to your Wallet: Withdraw the base currency to your crypto wallet. Log into your exchange account, provide your wallet address, and specify the transfer amount.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. Compare trading fees and liquidity before making a choice.

  3. Buy Phoenix Global (PHB): Connect your wallet to the DEX, select PHB, and enter the amount you want to trade. Be cautious of market trends and trading fees.

  1. Use Smart Contracts if Necessary: If PHB is not listed on the DEX, use bscscan or etherscan to locate the smart contract address. Copy and paste it into the DEX to complete the transaction.

Additionally, you can buy PHB directly on centralized exchanges like Binance, Gate.io, or HTX, which offer various payment options and lower fees.

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History of Phoenix Global [v2]

Phoenix Global [v2] (PHB) is a cryptocurrency and a BRC-20 token on the Binance blockchain. It represents PHX, the native token of the Phoenix network. The Phoenix network is a blockchain infrastructure platform for decentralized artificial intelligence (AI), computation scaling, and data-driven Web3. It was created from the merger of APEX Network and Red Pulse Phoenix in October 2020.

Red Pulse Phoenix was founded in 2015 as a blockchain-based intelligence platform covering China's economy and capital markets. It was the first application launched on the NEO blockchain, initially under the ticker RPX. In 2017, the company underwent an Initial Coin Offering (ICO), raising $15 million. A significant upgrade in 2018, called Phoenix, introduced enhanced smart contract functionality and replaced RPX with PHX tokens. These tokens were non-mineable and operated a staking mechanism for node holders using the NEO delegated Byzantine fault tolerance (dBFT) consensus algorithm.

In 2020, APEX Network and Red Pulse Phoenix merged to form Phoenix Global. As part of this merger, APEX's CPX token holders were airdropped 2.5 Red Pulse's PHX for every 1 CPX they held. These PHX tokens could be held in their current state or converted to PHB (BEP-2 on Binance blockchain) by depositing the PHX into their Binance wallet. After the merger, the APEX Network (CPX) tokens were deprecated and no longer tracked by data providers.

In June 2022, Phoenix Global officially launched its Layer 1 Mainnet.

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How Phoenix Global [v2] works

Phoenix Global (PHB) is a cryptocurrency that operates on the Binance Smart Chain (BSC) and focuses on empowering decentralized AI via blockchain infrastructure. Here's how it works:

Staking Mechanism

Unlike traditional mining, Phoenix Global uses a staking mechanism for node owners. This means that instead of relying on energy-intensive mining processes, node owners can participate in the network by staking their PHB tokens. This approach is more environmentally friendly and reduces the energy consumption associated with mining.

Byzantine Fault Tolerance (dBFT) Consensus Algorithm

Phoenix Global employs the Byzantine Fault Tolerance (dBFT) consensus algorithm, which is endorsed by NEO. This algorithm ensures the integrity and security of the network by allowing it to function even if some nodes fail or act maliciously.

Decentralized Applications (DApps)

Phoenix Global supports a variety of consumer-centric decentralized applications (DApps) built on its computation layer and layer 1 blockchain. These DApps are designed to enhance customer experiences and provide innovative solutions.

AI-Driven Applications

The ecosystem of Phoenix Global includes AI-driven applications that leverage blockchain technology to develop cutting-edge solutions. These applications focus on deep learning, image recognition, time series prediction, and lightweight generative AI tasks.

Node Management

Node operators can manage their PhoenixNodes through the SkyNet Control Panel, which allows them to connect their nodes and monitor their performance. The nodes can be hosted in local networks or colocation centers, and Phoenix partners with regional colocation centers to provide node operators with cost-effective and efficient facilities.

Token Supply

As of May 7, 2024, there are 49.3 million PHB tokens in circulation, out of a total supply of 64.0 million.

Price Predictions

Phoenix Global price predictions suggest that the token could reach $4.87 in 2024 and $11.18 in 2025. However, it is crucial to remember that these predictions are subject to change and should not be considered as investment advice.

Trading and Storage

PHB can be traded on various exchanges and stored in both centralized exchanges (CEXs) and non-custodial wallets. Users can choose the method that best suits their needs and preferences.

Overall, Phoenix Global aims to revolutionize the AI and blockchain space by providing a decentralized infrastructure for AI-driven applications and empowering node owners through its staking mechanism.

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Phoenix Global [v2]'s strengths

Phoenix Global [v2] (PHB) has several strengths that make it a notable blockchain solution:

  1. Proprietary Oracle: Phoenix Global has a built-in proprietary oracle that connects to the real world, allowing for efficient integration with external systems and data sources. This enables seamless connectivity and data relay to the blockchain.

  2. Enterprise Sidechains: The platform supports enterprise-level workstreams by separating them from the main network, ensuring scalability and flexibility. This allows for the creation of multiple sidechains, each optimized for specific application ecosystems.

  3. Two-fold Consensus: Phoenix Global uses a consensus mechanism that combines performance and agility, making it suitable for deploying consumer-focused DApps. This mechanism allows for easy asset transfer between the main network (DPOS) and side networks (POS).

  1. Multi-layered Smart Contracts: The platform features a multi-layered smart contract system, which enhances scalability, flexibility, and ease of deployment. This system allows certain components to be stored off-chain, making it more efficient.

  2. Data Transaction Engine: Phoenix Global has a built-in data transaction protocol designed to increase trust and security in B2C transactions. This protocol also supports decentralized, encrypted data storage.

  3. Decentralized AI and Federated Learning: Phoenix Global integrates decentralized AI and federated learning, enabling the analysis, computation, and sharing of value without compromising data privacy. This feature is particularly useful in various industries such as retail, financial services, and healthtech.

  1. Smart IoT and On-chain Analytics: The platform facilitates decentralized edge-computing mechanisms on IoT and smart devices, and supports fully blockchain-native Web 3 apps with on-chain data computation and analytics capabilities.

These strengths position Phoenix Global as a robust and versatile blockchain solution, well-suited for a wide range of applications and industries.

Phoenix Global [v2]'s risks

Phoenix Global [v2] (PHB) carries significant risks for investors. Trading in financial instruments, including PHB, is inherently random and can result in losses greater than deposits. This is particularly true for sophisticated investors who use leverage, which can amplify both gains and losses. Additionally, the cryptocurrency market is highly volatile, making it unsuitable for all investors, especially those with limited risk tolerance.

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Did Phoenix Global [v2] raise funds?

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Phoenix Global [v2]’s team

  • Mark Porto: Chief Executive Officer.
  • Alain Masson: Sr. VP Finance.
  • Steven Hall: EVP Operations North America.
  • Theodore Barry: Chief Administrative Officer and General Counsel.
  • Clint McGinty: Sr. VP Procurement & Assets.
  • Jeff Mellen: Sr. VP Sales & Marketing.
  • Jeff Suellentrop: Chief Technology Officer.
  • Carlos Sarmento: Sr. VP Strategy & Analytics.
  • David Riccio: VP Human Resources.
  • Chris Eberly: EHS Director, North America.
  • Venkatesh Srambikal: EVP International.
  • Fausto Tavares: EVP Operations Brasil.
  • Johan Pretorius: Country Manager for Phoenix Global South African Operations.
  • Irina Gata: General Manager of Phoenix Global Romania.
  • Stefan Bekenyi: Operations Director of Phoenix Global Kosice, Slovakia.
  • Sergi Pujol: General Manager, Spain.
  • Timur Colak: Special Advisor to the CEO.

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