The Pacio cryptocurrency token is called the PIO. It will be the native or intrinsic and tradeable cryptocurrency of the Pacio blockchain, with two unique features beyond those of other cryptocurrencies:
- PIOs will be numbered like banknotes so that they are traceable, and recoverable in the event of theft. The numbering will extend to even the smallest unit of PIOs.
- PIOs will be entitled to a share of newly minted PIOs as a new issuance reward.
These world first features combined with the other security advantages of blockchains, and the EOS advances of scalability, account management options, and zero transaction costs, make PIO safe money with new issuance rewards a major advance in the history of money, and human interaction.
- One billion or 1,000,000,000 tokens to be minted initially
- No cap but with annual issuance strictly controlled according to the Pacio Constitution
- Smallest denomination to be called a Pico with one trillion Picos in one PIO
PIO Uses and Rights
- be a cryptocurrency for trading, payments, and value storage, as for Bitcoin and Ether etc, with these additional benefits:
- safety due to numbering and traceability
- speed – a transaction can be considered confirmed with 99.9% certainty after an average
of 1.5 seconds from time of broadcast, or fast enough for real time use
- no transaction fees which, with the speed, will make micropayment systems possible
- many more applications available (in time), and potentially world scale sophisticated ones at that, thanks to the Pacio advantages making it attractive for developers to build and launch Pacio blockchain based systems
- entitle the holder to a share of 25% of newly minted block PIOs as an issuance reward in proportion to the number of PIOs held, with the other 75% being the reward for block producers, akin to miners’ rewards for Bitcoin and Ethereum. At a 5% issuance rate pa this amounts to a new issuance reward for holding PIOs of 1.25% pa.
- allow opening and maintaining a Pacio account with all its rights and facilities
- provide Pacio blockchain resource usage rights
- provide access to the Pacio API
- allow running of a Pacio node, either full or light
- allow optional participation in the Delegated Proof of Stake (DPOS) Consensus process
- provide a voice in the governance of the Pacio blockchain via voting rights as per the Pacio Constitution
PIO Value Creation
The benefits of PIOs described above, with PIO being widely traded and used by many applications, are expected to, but are not guaranteed or promised to, produce value for token owners in the manner of Bitcoin and Ethereum.
See the Pacio Concept Paper for more detailed information.