What is POE cryptocurrency?

What is POE cryptocurrency?

Robert McDougall 

September 15, 2022

Cryptocurrency

If you take a look around the crypto industry, you will literally find thousands of crypto assets based on different networks and algorithms. Some of those cryptocurrencies are solely designed for a purpose that could be revolutionary in the future, and well, some of them are simple shitcoins having no use-case in the actual world or even in the digital world.

But if we specifically talk about POE cryptocurrency or commonly known as Po.et, it is a unique application token that has made licensing for digital creators easier and more efficient. If you have been creating any sort of content on the internet, then you would definitely know stealing ideas, words, camera shots, and pretty much everything is very common and can be very disadvantageous for the creators. In order to solve this problem, POE cryptocurrency and its whole ecosystem were created so that it could help the creators out with protecting their content from theft.

   Key Takeaways

  • It's an open-source, decentralized, and not regulated by a third party based application token that helps creators protect their content from theft
  • It is free and it allows creators to track right to the origins of the content created and prove their ownership right away
  • It works on the Ethereum network and uses the consensus protocol that works by timestamping each and every piece of content that you submit on the ledger, and it creates a new hash file whenever your piece of content is being edited or updated
  • Po.et created a marketplace for creators where they can showcase whatever they have created and connect with the publishers, which is the right way to sell your digital content and get it licensed making it impossible for your content to be stolen in any way
  • The price of the asset might have been low for the past few years, but it still has the potential to reach a new all-time high due to its revolutionary use-cause and actual benefit

The origins of Po.et (POE) cryptocurrency

Po.et was launched in 2017, and it actually came with a definite purpose, unlike hundreds of cryptocurrencies being sold and applauded on the internet. As I have mentioned earlier, stealing content on the internet is very common, and creators face these types of problems every other day. It does not particularly matter if you write blogs, capture amazing photos, or make stunning vlogs; someone might be using your work for their own benefit, not paying you accordingly, or even crediting you at the end.

In case you are wondering if digital creators should just get their content licensed, then it is certainly not an easy task. The expenses involved would simply consume you to the core and would make you put that idea in the garbage can. But again, to make this whole scenario easier and literally free of cost, POE cryptocurrency was introduced to the world. It is not only free but works in a unique way allowing the creators to track right to the origins of the content created and prove their ownership right away.

The working algorithm of Po.et

You might be a little confused evaluating what Po.et actually is, whether it is a downloadable application, a ledger, or a simple website. Well, Po.et can be considered as a ledger with countless entries where you can keep track of all of your content without worrying about losing it to someone else. The Po.et ecosystem comes with the token named POE, which is also an Ethereum-based token designed for the same purpose as the whole network.

One of the best things about Po.et is that it is open-source, and its complete working system is available for everyone to check out. It is also decentralized and not regulated by a third party that would interfere with your work. And lastly, it works on the Ethereum network, which is simply the most popular and biggest crypto network ever created. 

How does Po.et keep track of your digital creations?

Po.et works in a surprisingly simple way, yet it is one of the most powerful ways to keep track of your digital creations. Po.et simply uses the consensus protocol that works by timestamping each and every piece of content that you submit on the ledger.

Now the unique thing about Po.et is that it creates a new and separate hash file whenever your piece of content is being edited or updated so that it can easily be tracked in case you have to prove the ownership of your content. Lastly, as all the entries are easily accessible on the immutable ledger, you can quickly search, find, and prove your ownership without delay.

Connecting creators and publishers through the Po.et ecosystem

The thing is, Po.et discourages stealing digital content, but they do not discourage selling it through legal mediums and through the right way. For that, Po.et has also created a marketplace for creators where they can showcase whatever they have created and connect with the publishers. Of course, this is the right way to sell your digital content and get it licensed to get rid of all the problems. Every transaction that takes place at Po.et is through the POE cryptocurrency or the token that makes sure to assign a unique print to your content. This way, it becomes impossible for your content to be stolen in any way.

So if you are a digital creator, you can head to the Po.et marketplace and cash your creations. In case you are a publisher, you can explore the art available and buy the one that blows your mind and fulfills your needs.

Technical analysis of POE Coin

POE coin is undoubtedly not the coin competing with the top 100 cryptocurrencies you would find on the coin explorers. The coin comes with a relatively smaller circulating supply averaging around $3 billion. As of 8th September 2022, POE coin trades at around 0.000025, having maximum supply.

As for the actual usage of the coin, it is used on the Po.et ledger as all the purchases and transactions are made in POE cryptocurrency. You can also stake your assets and earn a considerable amount at the end, thanks to the interest rate. 

Should you invest in POE Coin and hold them for the long term?

One of the things being said about the crypto industry is that you should only invest what you can afford to lose. It is simply due to the volatility involved and how the tables can turn in an instant. So if we talk about POE coin and if you should invest in it, we will have to take a little deeper look into the details.

When the coin was first launched, it had an initial price of 0.005 USD. Surprisingly, the coin traded at over $0.25 when it reached its all-time high, which is a lot higher than the price it is being traded at right now. But due to the fact that POE Coin has got an actual use case and it is working on the betterment of the digital world, its price can reach further heights and can profit you well. But again, make sure only to use the funds that you can afford to lose and not the money you might need next month. And if you are a publisher willing to pay for good content, POE coin can be a must-have asset allowing you to get the license of content in a legal, secure, and quick way.

Conclusion

POE cryptocurrency is one of the very few cryptocurrencies with a revolutionary use-cause and actual benefit, allowing the creators to protect their creations. The price of the asset might have been low for the past few years, but it still has the potential to reach a new all-time high. It is simply a matter of adaptation of the concept and the awareness among the creators to start using the Po.et ecosystem for the protection of their digital art. Right now, you can get thousands of POE crypto assets for a few bucks, and if you are willing to skip the coffee today, POE can be a good investment. 

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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