While you were holidaying and having a ball, the week has been a wild one on the digital currency exchanges, and 2018 may have many more surprises in store for us. You only need an account with Binance or one of the other exchanges to participate in the buying and selling of alt-coins. One such coin is Po.et (POE), a relatively unknown cryptocurrency that just tripled in value from 5 cents to 14 cents before settling in at around 11 cents as of 2:09pm EST on December 30th.
Po.et, whose Symbol is POE, is an open, shared universal ledger intended to record ownership information and metadata for creative digital assets. This is an extension of Proof of Existence which is a non-financial application on the blockchain. Po.et’s aim is to create an institution-recognized record of all digital media assets.
Blockchain will revolutionize the financial and banking industry by building an immutable accounting ledger the serves as a financial application platform. Po.et takes this concept from finance to intellectual property, by transforming the publishing industry with a similar immutable distributed ledger to serve as a platform for creative works.
Po.et (POE) has existed for a while as an underdog altcoin with a simple website that didn’t attract all the attention it deserves. Po.et (POE) presents an absolute, unquestionable, transparent and auditable POE (proof of existence) for creative content online. It uses the Blockchain to track ownership of digital assets like published works and online content owned by different creators.
To create a strong and effective impact for Po.et, Esteban Ordano, Po.et’s technical architect, says they introduced an ERC20 token called POE where holders are entitled a relative part of the income generated by the network. The Po.et Foundation collects fees for services offered and processes and validates the network’s license payments and since they don’t rely on third parties the process is simpler and cheaper.
The greatest news of the season for Po.et is that it recently joined Binance and is already trading. Binance is among the leading exchanges and with more traders moving their assets to Binance, POE gains more exposure and market capitalization.
The trending market cap for POE is $88 million USD and its trading volume in the last 24 hours alone has been over $25 million USD. With a total supply capped at 3,141,592,653 and up to 2,176,495,390 Po.ets (POE) in circulation, the price of Po.et has skyrocketed.
A little over a week ago, Po.et was the cheapest coin on Binance even after running a successful ICO where the entire 10,000,000 million tokens on offer were sold. Only 8 days ago the price of Po.et was $0.026 and was the only coin listed under $0.05, but as more people are getting in on it, the price of Po.et has more than doubled, elevating it from that bottom seed position.
As the Po.et (POE) network grows and improves, the token will continue to evolve together with the protocol. Po.et is also likely to transition into a native currency and any other use that the network will need.