This is starting to look extremely promising!
Just a few questions. Might be found in whitepaper. But it won't hurt to have the questions and answers here as well imo.. How is the token utilized by all participants in the process. And how many do parties involved need and what does this depend on?
Just a few questions. Might be found in whitepaper. But it won't hurt to have the questions and answers here as well imo.. How is the token utilized by all participants in the process. And how many do parties involved need and what does this depend on?
The PRO token functions both as a registree fee and access fee to write on the Propy blockchain. By doing so, it activates the automated title deed contract depending on where the transaction is made. Thus all participants won't be utilizing the token itself other that the individuals making the transaction, but it's the most fundamental element of what makes Propy, Propy.
Thanks for getting back. So if I buy a house this way for lets say 2m, how much Propy do I need and where do they go when I spent them? Do any of them get burnt?
My pleasure. The rate of the amount of PRO used for a transaction may differ based on the jurisdiction of the property. I expect it to be between 2~5%.
More accurate details will be out with the new Whitepaper amendment.
1/3 of PRO used goes to the company, and 2/3 goes to the network growth pool. Details about this can be found in the current version of the whitepaper.
whats awaiting for it, why its going to have great q1 2018? Only logic arguments please, thank you