For the record, there was no premine. No coins were held in reserve. There was no ICO. This was a fair launch coin and there is no company or foundation in control or that holds coins on behalf of PegNet. This is a decentralized ecosystem.
Do you intend to compete with Bitcoin? but I see PEGNET more than Bitcoin and it looks like Ethereum,
I see pEth, pXLM, pBitcoin etc. what does all this mean? I am curious
Those are "pegged" versions of those cryptocurrencies. Miners subscribe to external market APIs and submit the price data for those crypto to PegNet and, long story short, on PegNet you can then convert into and out of those pegged assets.
is that some kind of token made from the Pegnet platform? I think your explanation about it can not be understood,
I myself am still confused about how there are pBtc, pEth etc.
PEG is the mineable token of PegNet. PEG is awarded to miners who subscribe to external market APIs and publish the data to PegNet. This data is for fiat, crypto, and precious metals at present and these miners are acting as decentralized oracles. The price these miners agree upon for USD, BTC, ETH, XLM, Gold, etc becomes pUSD, pBTC, pXLM, pGold, etc. These are the "pegged assets". This, for example, makes pUSD a decentralized, fully auditable competitor to the likes of centralized stablecoins like USDT and Tether. pGold becomes a crypto version of gold that should always follow the value of gold. So if you want to hold crypto that follows the price of gold, you now can.
Please let us know if you'd like further clarification on specific points.
And what's the real purpose of the PegNet if that will be awarded to the miners only? You are saying if there will be pUSD and etc. is there a hot wallet to store the reserved funds? as far as i know if the stable coin will always need something to back it to make sure if the price of that coin will be stable without getting the volatility from the market.
If you are having the data for the collateral to backed the coin and it can'e be used to backed your coins.
Im feeling curious about how it works consider you are offering various pair to be used as a stable coin.