The Power of PEG

As noted from the defined URLs herein, PEG is backed by the blockchain, BLOX, which goes by the token symbol, BLX. More information about BLX can be found on its homepage located at BLX.org, but a key summary of this extremely powerful and user friendly blockchain herein follows:

BLOX consists of two layers: one, the core; and two, decentralized apps (dApps). BLOX is governed through a Proof of Transaction (PoT) consensus algorithm that validates transactions instantly through an off-chain protocol and are then posted to the blockchain every five minutes. This consensus algorithm scales security with activity: The more transactions that occur, the more secure blocks become, and the more difficult it will be to attack or hack. These transactions are continuously hashed through binary pairing until one hash remains, which forms one block. Any attempt to alter or remove any transactions thereafter will result in an invalid block as the hash root.

BLOX also has an additional consensus mechanism, Proof of Stake (PoS), which is its protocol for smart contracts that deploy digital assets, such as art, music, video, documents, and more. It’s PoS that is used in BLOX’s Asset Agreement Implementation (AAI) with PEG to produce the Players Elite Guild Token.

While BLOX is a global blockchain, one registered as a decentralized autonomous organization (DAO) in Wyoming, United States, it has gained notable traction in the Philippines. Many other businesses have chosen BLOX for its tech backbone, including cryptocurrency marketplace, Coexstar, and investment technology advisory, JCash, which will be using it for all its ventures with Japanese investors, among many others soon to be announced. This traction, in addition to its core technology, led the PEG team to conclude that BLOX would be the best blockchain for its infrastructure needs as it is Blockchain technology reimagined for a more simplified and cohesive user and operator experience.

Like its blockchain backbone in BLOX, PEG will have the same two consensus algorithms. For transactions, PEG will use Proof of Transaction via BLOXNodes. For its implementation of non-fungible tokens, PEG will use Proof of Stake (the consensus algorithm for converting PEG to NFTs is near finalization of definition).

Finally, to support PEG’s bid to become the number interoperable integrated financial ecosystem guild provider in the world, BLOX will also act as a custodian for wrapped tokens. For those unfamiliar with the term, wrapped tokens are newly created tokens that serve as a representation of a token on another blockchain. Wrapped tokens are made to improve the interoperability of different blockchains or access the features of a blockchain not available on the original.

To this end, PEG has immediate plans to wrap two tokens. The first is YGG, the token of Yield Guild Games, one of the biggest gaming guilds in the world. The second is AXS, the governance token of Axie Infinity, one of the games that popularized the play-to-earn (P2E) model.

Token Wrapping

To support PEG’s bid to become the number ONE interoperable integrated financial ecosystem guild provider in the world, the backbone BLOXChain will also act as a custodian for wrapped tokens. For those unfamiliar with the term, wrapped tokens are newly created tokens that serve as a representation of a token on another blockchain. Wrapped tokens are made to improve the interoperability of different blockchains, or access the features of a blockchain not available on the original.

To this end, PEG has immediate plans to wrap two tokens. The first is YGG, the token of Yield Guild Games, one of the biggest gaming guilds in the world. The second is AXS, the governance token of Axie Infinity, one of the games that popularized the play-to-earn (P2E) model. By wrapping their tokens, PEG aims to capture the gamers, scholars, investors, and other stakeholders from competing platforms, and bring them into the fold of PEG, where - in addition to core gaming features - they can also access other products in the ecosystem.

By wrapping their tokens, PEG aims to provide to itself and to other potential PEGFi guild partners the ability to allow for the gamers, scholars, investors, and other stakeholders from other GAMEFi infrastructures or Metaverse platforms, to be able to interchangeably benefit and utilize their earnings in those (or other such future wrapped tokens), within the PEG universal ecosystem.