TOKYO, Japan, August 28, 2024 —- Effective immediately, PKT, the bandwidth-hard layer-1 proof-of-work blockchain has changed its ticker symbol from “PKT” to “PKTC” as traded on centralized exchanges. The project will continue to be recognized as PKT, as well as PKT Classic.
This change is aimed at clarifying the distinction between the original proof-of-work version, now referred to as PKT Classic, and the evolving PKT project, which includes a Stake-to-Earn upgrade following its move to Base blockchain on August 21, 2024. The PKT ticker will remain associated with the PKT project on the Base platform, highlighting its ongoing evolution and development within a more robust ecosystem.
For PKT Classic (PKTC), the new ticker is intended to create a clear separation between the two branches of the project. For community members, both current and prospective, this differentiates the layer-1 blockchain technology of PKT Classic, which continues with its unique bandwidth-centric mining protocol, from the Stake-to-Earn features now available on the Base blockchain. This technology upgrade is designed to directly incentivize community involvement in operating and expanding PKT’s decentralized physical infrastructure network (DePIN).
Those holding PKTC currency before the snapshot on block 2,639,299 are eligible to receive a 2:3 airdrop of the new PKT tokens on the Base blockchain. This provides an immediate benefit and incentive for existing supporters to participate in scaling the PKT Network infrastructure.
This new approach represents an evolution to the PKT project development and community engagement. By maintaining the integrity of PKT Classic, while simultaneously embracing the advanced capabilities of the Base blockchain, such as Web3 wallets and DeFi, the PKT project can continue to innovate and adapt in the fast-evolving blockchain space.
The split into PKTC and PKT also addresses both the technological and operational advancements of the project. This enables users to choose their preferred pathway: continuing with the traditional mining-focused approach of PKT Classic, or engaging with the dynamic, Stake-to-Earn driven model of PKT on Base. This flexibility caters to the diverse needs and preferences within the PKT community. It ensures that the project remains relevant to a broad spectrum of users, from miners and holders, to those interested in the latest DeFi applications and infrastructure scaling.
For traders and investors, the ticker symbol change requires no action on their part. The update is automatic and has no impact on wallet holders. Trading will continue on centralized exchanges under the new PKTC symbol, ensuring a seamless transition.
As the PKT network continues to grow, the introduction of the PKTC ticker symbol is an important step to ensure that all stakeholders can distinguish their involvement in the future of the project.
About PKT
PKT is a decentralized media network ecosystem powered by the people. Built as a decentralized physical infrastructure project (DePIN), its technology stack supports the future of global content accessibility, digital distribution and the decentralized web. Network features include its decentralized media platform, censorship-resistant websites, open internet access, and permissionless, digital payment rails.
PKT is an extension of the open-source cjdns mesh networking protocol, which is the backbone of the PKT Network. Cjdns enables users to get onto the internet peer-to-peer, without requiring a traditional internet service provider (ISP). PKT’s Stake-to-Earn protocol on Base provides the economic incentive for people to scale the PKT Network worldwide.
Visit https://pkt.cash for more information about PKT on Base.
