The PegNet token (PEG) is an open, distributed, autonomous and minable stablecoin network. PegNet enables cryptocurrency users to hold value and make payments in the form of any asset they would like thanks to Pegged Asset Tokens. PegNet tokens are digital copies of the fiat currency, cryptocurrency or precious metal they mirror.
Supported by prominent early Ethereum contributor Jonathan Mohan and early blockchain leaders such as David Johnston, and Paul Snow. PegNet’s technology leapfrogs existing stablecoin implementations by being minable via proof of work, where miners are rewarded with PEG tokens in return for submitting and approving price data from external sources. Miners subscribe to various market API’s and submit the prices of 29 assets, including Gold, Silver, USD, Euros, Ether, Factoids & Bitcoin, with many more to come to PegNet. Users can choose their exposure to any of the Pegged assets by simply converting between assets at current market prices.
• Five-thousand PEG tokens mined per block, every 10 minutes • Distributed mining reward go to the top 25 miners each block • 29 stablecoins including: Gold, Silver, USD, Euros, Ether, Factoids & Bitcoin
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