What is PORTAL Cryptocurrency?
Portal is a cross-chain gaming platform that aims to connect games and gamers from various blockchain networks, using its native utility and universal gaming token, $PORTAL¹². Portal leverages LayerZero, a messaging protocol that enables cross-chain communication and transactions, to create a seamless and frictionless multi-chain gaming experience². Portal also offers a discovery platform, a gaming wallet, a node network, a stake-to-access feature, and a launchpad for upcoming gaming projects².
Portal cryptocurrency, or $PORTAL, is created through a process called minting. Minting is the act of generating new tokens on a blockchain network. Portal uses a hybrid consensus mechanism that combines Proof-of-Stake (PoS) and Proof-of-Validation (PoV) to secure its network and mint new tokens². PoS is a method where token holders can stake their tokens to validate transactions and earn rewards. PoV is a method where node operators can validate cross-chain messages and transactions and earn fees. Portal has a fixed total supply of 1 billion $PORTAL tokens, of which 33% were sold in the private and public sale, and the rest are allocated for various purposes such as ecosystem development, team, advisors, marketing, etc².
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