Poet coin is a cryptocurrency operating on the Ethereum platform. The token’s purpose is to create incentives around the improvement of content and earnings on the Po.et network. Po.et is establishing an open, universal ledger that records immutable and timestamped information about creative content. It also uses open protocols designed for interoperability with current industry standards in media and publishing.
What is Po.et (POE)?
Po.et (POE) is a shared, open, universal ledger designed to record metadata and ownership information for digital creative assets. Po.et is described as a continuation of the Proof of Existence, the first non-financial application of Blockchain. By creating an open platform on the Bitcoin blockchain, Po.et aims to establish a globally verifiable record of digital media assets. This record is said to be a framework for creating smart, interoperable media applications using a shared, standard, and expandable metadata form.
In addition, Po.et is characterized as a permissionless protocol that leverages Bitcoin and IPFS for decentralization. Therefore, according to statements, everyone has the authority to submit and verify claims on Po.et. The Po.et team is also facilitating the use of different software packages to ease interaction with the Po.et Protocol.
On the other hand, Po.et states that it benefits from the Bitcoin blockchain as it is the most proven, secure, and immutable chain. The Po.et network significantly reduces transaction costs by aggregating transactions.
Additionally, potential applications to be built using the Po.et Protocol are listed as follows:
- Users can create their own search engine ranking system by selecting highly reliable curators that use only high-quality content.
- Content creators can invest in verifying the originality of their content and its subject matter to earn more money.
- Brands can ensure their logos are used only against approved content pieces.
- Users can communicate with others who attempt to claim ownership of their intellectual property.
- A verifiable supervision chain can be established in academic papers.
In addition, owning POE tokens is not necessary for the initial stages of the protocol, as Po.et aims to make the initial parts of the protocol as inexpensive as possible. However, the node recording the transactions needs to use BTC to secure the transactions. Some value-added applications from the Po.et team may require the use of POE tokens in the future.
POE Coin Review
Nowadays, the proof of originality and copyright of created content has become a very important issue. Therefore, it is thought that the Po.et platform has a future. It is also stated that the POE coin may appreciate in value in the future.
However, users are cautiously monitoring the POE coin on some platforms due to its delisting from Po.et Coin.
In addition, it would be beneficial to look at the current figures of Po.et coin, which experienced a drop of over 25% at the time this article was being prepared.
According to CoinMarketCap data, as of the time this article was prepared, the Po.et coin was trading at $0.000114 and at 0.00000001 BTC in the POE/BTC pair. Also, there are currently 3,141,592,653 POE coins in circulation, and there is no clear information about how many POE tokens will be in total.
Additionally, it is worth noting that Po.et coin hit a low of $0.000088 on November 13, 2020, and reached a record high of $0.282321 on January 5, 2018.
How to Buy Poet Coin?
Poet Coin was listed on Binance on November 20, 2017, and reached a record level approximately 2 months after being listed. However, after being delisted from Binance in 2020, Poet Coin can now be purchased through Hitbtc and WazirX.
