![](https://assets-currency.kucoin.com/65dffb9b1a5e52000157f19d_PSL%20logo.png)
Pastel Network (PSL) is a blockchain platform focused on digital art and NFTs. It uses a unique blockchain to allow artists to securely register and trade their digital artworks as NFTs. The native token, PSL, serves multiple purposes within the network, including payment for services, staking, and governance.
The network features a decentralized infrastructure with Masternodes that validate transactions and store data. These Masternodes help ensure the security and integrity of the artworks registered on the blockchain. PSL tokens are used to pay fees for creating and trading NFTs, running SuperNodes, and participating in governance decisions.
Pastel Network aims to provide a secure, cost-effective, and scalable solution for digital art and Web3 applications. It supports permanent storage of digital assets and offers interoperability with other blockchain networks through open APIs.
Pastel Network provides a decentralized platform for creating, trading, and securing digital art as NFTs. Artists first create a unique Pastel ID. This ID includes a public key and a private key, ensuring secure identification and verification of the artist’s work. Artists upload their digital artwork to the Pastel platform. They sign this artwork with their private key, preventing tampering and ensuring authenticity.
The network uses Masternodes, powerful servers that validate and store the artwork. These Masternodes inspect the art for indecent content or plagiarism. If three Masternodes approve the artwork, it gets recorded on the blockchain. Once registered, the digital art is securely stored on the blockchain. Collectors can then trade these NFTs directly on the Pastel platform without intermediaries.
Pastel Network uses a combination of Proof-of-Work (PoW) and Proof-of-Stake (PoS) mechanisms. Miners use PoW to validate transactions and secure the network, while SuperNodes, using PoS, provide additional services and governance functions.
Both artists and collectors use PSL tokens to pay for services, and Masternode operators earn PSL tokens for their validation work. These tokens also enable users to participate in network governance by voting on proposals.
Pastel Network (PSL) was founded by Alexey Kireyev, Jeffrey Emanuel, and Anthony Georgiades in 2018. The mainnet officially launched on March 13, 2021, providing a system for artists to register and trade digital artworks securely.
2023 Initiatives
2024 Vision
Pastel Network's PSL token is used for several key purposes within the ecosystem:
The tokenomics of Pastel Network (PSL) revolve around several key aspects:
A portion of transaction fees in PSL is permanently burned, reducing the overall supply over time. This occurs during key operations such as PastelID creation, NFT registration, activation, and trading. This mechanism helps manage inflation and potentially increases the token's value over time.
Investing in Pastel Network can be beneficial due to its strong focus on security, interoperability, and innovative NFT solutions:
While we cannot offer a reliable PSL price prediction, here are several factors that influence the price of Pastel Network crypto:
By staking PSL and operating a SuperNode, you contribute to the network’s security and decentralization while earning rewards. Here’s how PSL staking works:
Period | Change | Change (%) |
---|---|---|
Today | $0.0000102 | 5.86% |
7 Days | $0.0000042 | 2.33% |
30 Days | $-0.0000042 | -2.18% |
3 Months | $-0.0001574 | -46.06% |