What is Planq ($PLQ)?
Planq is a proof-of-stake (PoS) network that enables value transfer between Ethereum and Cosmos ecosystems. It is developed using the Cosmos software development kit (SDK). Developers can seamlessly leverage Planq to run Ethereum smart contracts on app-specific Cosmos networks. In addition, the Cosmos Inter-Blockchain Communication (IBC) protocol empowers Planq to link decentralized applications (dApps) on various blockchains and benefit from joint liquidity and value transfer.
Planq makes use of Tendermint Core's Byzantine Fault Tolerance to distinguish itself from other network application layers. By combining the EVM and Cosmos environments, Planq also enables developers to create cross-chain dApps faster and more cost-effective. Generally, Planq strives to give Tendermint developers a flawless experience when using Ethereum tools by offering them an open-source library to facilitate EVM compatibility on the Cosmos ecosystem. The Planq token is vital in securing the Planq blockchain by incentivizing network validators and developers. Apart from fueling network transactions and validation processes, Planq is the second asset on an EVM that facilitates network participation through governance voting. As an Planq token holder, you are responsible for navigating the Planq decentralized autonomous organization (DAO) and shaping the ecosystem's future.