Pastel current price (PSL)

$0.00317

48.13%
Trading Volume (24h)
$385,887.47

Market/Exchange

Exchange
Currency Pair
Price
Trading Volume (24h)
Bitcoin.com Exchange
Bitcoin.com Exchange
PSL/USDT
HitBTC
HitBTC
PSL/USDT
HitBTC
HitBTC
PSL/BTC

About Pastel

What Is Pastel Network (PASTEL)?

Pastel Network is the first fully dedicated, decentralized digital art platform allowing users to register, store, and trade ‘provably rare’ assets. The network is a fork from Z-cash, running the Proof-of-Work (PoW) algorithm Equihash and also supports Masternodes from Dash, which provide computational resources to the network to support asset registration, distribution, and permanent storage.

PSL is the native utility token that is used for:

  • Fees for processing transactions and registering assets.
  • Running masternodes on the network via staking PSL tokens.
  • Used for governance votes to determine how network resources are allocated.

PSL features include:

  • Near-duplicate Image Protection - The network rejects any new registration of the “same” (or clearly derivative) art image using Tensorflow with Keras Applications (models)
  • NSFW Detection - The network rejects any new registration of NSFW art (for the purpose of excluding illegal child pornography images) using Tensorflow with OpenNSFW models.
  • Masternode Reputation Tracking - The network verifies that all Masternodes are actually storing the data they are supposed to store and punish those that are not using cNode’s Validation logic extended to validate MN activities.
  • Data protection at transit and at rest - Connections between nodes and wallets use TLS at all times to prevent man-in-the-middle attacks, while data stored on the network is protected from unauthorized access.
  • Reliability - Data stored in the Pastel Network Storage Layer is available to the users at all time, regardless of active nodes - the fountain code algorithm (RaptorQ) is used to break up the original data (i.e., the art image file) into a set of redundant, fungible chunks. The sets of chunks are then auto-distributed across the network using the Kademlia DHT algorithm.

PSL tools include:

  • PSL Thick Wallet - The User Interface (UI) to the Pastel Network, both blockchain (cNode) and storage layer. Requires the full cNode. Provides advanced functionality to users (view / register / trade art, import / export crypto wallet, create / registerPastelID).
  • PSL Thin Wallet - Mobile/web application, without access to the full cNode.
  • PSL Explorer to aid with understanding network movement and performance.
  • PSL Command Line Tools to allow developers to deploy and manage nodes from various environments.
  • COMING SOON: PSL SDKs.

How Many PSL Tokens Are There in Circulation?

Pastel launched its mainnet on January 1st, 2021 with a fully-diluted initial supply of ~10.5BN, or ~50%, of total tokens created at genesis. Only ~1.2BN of the tokens are currently in circulation, with the remainder held by the foundation or locked-up. The initial block reward is set to 6,250 (5,000 to miners and 1,250 to masternodes) with a targeted block time of every 2.5 minutes. The block reward halves every 840,000 blocks.

Who Are the Founders of the Pastel Network?

Pastel is the brainchild of Jeff Emanuel, a machine-learning and financial analyst, but also an aspiring digital artist. The team is supported by founder’s Alex K, a developer with 25+ years of development experience, and Anthony Georgiades, a product manager and prominent technology investor at Innovating Capital.

When the team started this project a few years ago, they concluded that the only way to do this was to make an application specific blockchain (rather than an ethereum-based token) so that they could control every aspect. The biggest issue with other methods is that they do not provide storage for the image files themselves, and thus one cannot put this data directly into the blockchain without it quickly running into scaling issues. Thus was born Pastel - native blockchain that has built the functionality required to efficiently and securely provide the services required for the specific use case of rare digital art on the blockchain.

Where Can I Buy PSL?

Pastel is available for trading on Bitcoin.com

Pastel Price Chart