Poken (PKN): Definition, History and How It Works

Bittime - The development of cryptocurrencies never stops at one point. In its rapid changes, Poken was born, built on the Ethereum blockchain. Let's learn more about Poken (PKN), from its definition to how it works!

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What is Poken (PKN)?

Poken (PKN) is a cryptocurrency that was launched in the summer of 2021 through an ICO and managed to raise 10.7 million USD from approximately 80,000 investors. Although relatively new to the industry, Poken has a long history through its parent company having previously launched two platforms in 2017 and 2019 with the same goal.

Poken Company has always had an interest in creating a transparent platform for creators through the use of crypto. Nevertheless, this goal remains consistent to this day, but through a different and more unconventional industry, namely through the Pokmi platform which mainly focuses on buying and selling adult content.

PKN is built on the Ethereum blockchain, which operates via a proof-of-stake ( PoS ) protocol. Even though Poken staking is not available, this cryptocurrency can still enjoy the same security and decentralization that blockchain provides as well as the benefits of popular blockchain smart contracts .

The total supply of PKN tokens is limited to 5 billion and to date, token expansion continues across various exchange platforms. The main goal of the token is to reward content creators through efficient and clear transactions, with no hidden fees, as well as allowing uncensored access to content.

Poken Company History

The Poken company is a company from France that has been founded in 2017. Poken founders, Marco Garniga together with Nils Lataillade have a vision to create a platform where content creators and consumers can interact freely without any restrictions. Hence, they launched Poket and Pokikoo afterward, but both failed.

It was only in 2021 with Fred Coppula that the company actually launched Pokmi to USD. Coppula is a well-known adult film director and producer and together they created Pokmi to focus on sharing adult content. 

Several famous adult actors and actresses such as Abella Danger, Manuel Ferrara, and Kayden Kross promoted the platform and became successful. Pokmi is a platform for selling adult content in the form of NFTs and several collections are available. Poken (PKN) would become the native token for purchasing NFTs, so it was no surprise when the token's ICO raised 10.7 million USD in the summer of 2021 and the price of Poken skyrocketed.

Although the Pokmi platform is now prominently featured in the use of the Poken crypto, the Poken company emphasized that these tokens can still be used in other content categories. If we rely on the company's statement on its official website, Pokmi is not the only arm of the company to consider when thinking about Poken's share price.

The goal remains the same for the company: to offer a practical and decentralized way of online payments. In the future, Poken aims to challenge payment habits that consumers have adopted for years and promote better rewards for creators.

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How Poken (PKN) Works?

As previously mentioned, Poken's current operations are extensive, although it has recently risen to prominence, especially through its Pokmi platform. However, its overall function does not only depend on Pokmi. Poken and its PKN tokens cover an entire ecosystem that promotes various projects in the world of cryptocurrency. 

Poken also seeks to offer services to businesses in various sectors, primarily aiming to popularize cryptocurrency payments. To achieve this, the company emphasizes the advantages of its token (PKN), including enhanced anonymity and strong security. The functions of Poken tokens (PKN) are various, including the following.

Decentralized Payments

The main function of this token is to revolutionize online payments in various services by utilizing cryptocurrency. The technology aims to eliminate the need for traditional banking systems, which are subject to government and regulatory control, thereby facilitating seamless payments.

Transaction Speed

In contrast to long waiting periods, decentralized networks like Ethereum operate without geographic restrictions. As a result, transactions are processed quickly as soon as they are verified on the blockchain, without any delays. This aspect is very important for content creators and consumers who are interested in sharing content.

Transaction fees

By taking advantage of lower gas fees on the Ethereum network and without the need for a dedicated Poken blockchain, transaction fees through Poken are lower compared to traditional money transfer services. High transaction costs often work against content creators, making them feel undervalued for their content. However, with Poken, these exorbitant fees can be avoided.

Non-Fungible Tokens (NFT)

Content shared on Poken is issued as NFTs using smart contracts. The main advantage of NFTs lies in their ability to demonstrate true ownership of content, thereby preventing piracy and hacking. This feature is critical for both content creators and consumers, as it allows them to establish content ownership in the event of a dispute.

User Friendliness

Poken Company strives to provide a more enjoyable experience than its competitors. This is achieved by developing a user-friendly platform that is accessible to everyone, regardless of the device used. The goal is to make the process of sharing content smooth and enjoyable, without unnecessary obstacles.

How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds intowallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SUN) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.