Review on pTokens BTC by francis fernandez
Ptokens BTC: removing barriers between chains
Because digital currencies are in constant risk of loss of market value; Cryptors have focused their goals on achieving linkage mechanisms to other stable assets to maintain their value.
BTC Ptokens constitutes a platform that aims to maintain the 1: 1 value stability of its native currency with respect to the most popular and stable currencies such as ETH, BTC and EOS.
Functioning:
To maintain the 1: 1 balance of Ptokens with any other cryptocurrency; the user must make a deposit of funds in the asset that he wishes to link to the Ptokens. The assets most often linked to Ptokens are EOS, BTC, and ETH.
In this sense, if pToken is linked to EOS, pEOS is obtained and so on.
Technology:
The pTokens platform uses smart contract technology as a mechanism for linking stable assets to the native cryptocurrency.
In the smart contract of pTokens, the asset is deposited that will support the conversion of the value of the cryptocurrency. This serves as a connecting bridge between the base currency and the linked asset.
All of this is possible thanks to the versatility of the Ptokens cross chain and its high interoperability with multiple chains.
Utility:
The main advantage offered by the Ptokens platform is its ease of converting simple assets into underlying assets, without restrictions or intermediaries and safely due to the use of the unalterable infrastructure provided by blockchain. In addition, all this process is done efficiently, facilitating the interface with decentralized finance applications.
Pros
- Allows barrier-free transfer of assets between multiple chains
- Has a decentralized government system
- It has a 1: 1 link with a robust currency such as ETH
Cons
- It has no disadvantage
