LONDON, UK / ACCESSWIRE / August 5, 2021 / Recently, Phenom has proudly announced the launch of its ecosystem, including the Phenom network, Phenom chain, Phenom token, Phenom App, Phenom pay, Phenom exchange, and Phenom game.
Gone are the days when people had to depend on developers for development. Companies such as Phenom have made it possible for users to influence their own development by creating a unified Ecosystem on a unique blockchain.
This is a game-changer as companies spend a lot of money on product development, which is mostly a single product. This reduces the return on investment as most of the costs spread out to product support and making changes. This contributes to a product failing in a year or two and the competitor taking over.
For most companies to stay afloat and be profitable, they have to offer more than one product or service so that when one product is down, the other can support it. This helps in optimizing the lifetime value of each customer. When a company offers more products or services, it expands the product Ecosystem so that the brand stands the test of time.
Rise of the Phenom Ecosystem
Very few companies use products to create an Ecosystem, yet it comes with so many benefits. Phenom tapped to fill this need by creating an Ecosystem after a series of several projects. The projects received a high demand, making sense for the company to create an Ecosystem.
One of the company's projects is an application, the Phenom app, that would allow users to rent free smartphone resources for computing power, data, and storage, for which they get tokens as a result. After successful testing of the main product and improvement, the company decided to create an Ecosystem where its users are in charge of their development.
To encourage the interaction of users in the Ecosystem, active users are given an incentive so that there is healthy participation.
The Phenom Ecosystem entails the Phenom network, Phenom chain, Phenom token, Phenom App, Phenom pay, Phenom exchange, and Phenom game. All the projects are interconnected with each other.
How the system works
The Ecosystem is based on the blockchain, which is a decentralized ledger. This means that it can unite many different devices decentrally to contribute to the system's computing power. This is also known as the Phenom network. Users contribute to high transaction speeds and network efficiency.
The system is fueled by the PNT token that is used for all payments in the network. The tokes are used for making rewards, payments, investment, and validation of the system.
In the Phenom Ecosystem, the Phenom chain contains a registry of all the events in the Ecosystem but in chronological order. Due to the blockchain base, there is transparency of all the events. No one can change the records of the network.
Phenom pay is a payment system that is used for storing, sending, and using tokens.
The Ecosystem also has the Phenom Exchange, a decentralized exchange platform that directly connects traders without third parties. That means that users can trade cryptocurrency assets on favorable terms.
Phenom game ensures there is the gamification of any routines in the Ecosystem. The company's latest development is the Phenom League, an in-app gaming platform that allows users to engage with each other through games. The company's products are interactive and educational, which makes it a favorite to many. The products are also easy to use, with an intuitive interface that makes them stand out.
What does the future hold?
The company is working hard to ensure that users can enjoy different products of blockchain projects. It is already miles ahead in terms of product release, updates, and user popularity.
Interestingly, in one year, the Ecosystem has released five products and has three in beta testing. Since the Phenom network is decentralized, it has attracted many people interested in the development of blockchain projects. So far, the company has 35,000 users from 40 countries in less than two quarters, which is a positive sign.
The main goal of the Phenom Ecosystem is to provide users profitable products that are easy to use and have a transparent technical base. All the products in the system work in sync with each other so that the end-user can have an optimal value. More so, it is important to note that Phenom also has a strong community and launches special programs for them with the rewards for stimulating Ecosystem growth.
SOURCE: Phenom Ecosystem
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