Bitcoin or BTC is the most known iteration of blockchain technology,
as well as being the oldest running immutable ledger. With nearly 10
years of data at its foundation, Bitcoin retains its status as the
most well known, as well as most valued Digital Asset. PAC Protocol is
not built to compete with Bitcoin. BTC is quite simply, a store of
value, and due to its length of record, may likely maintain its strong
position, while PAC Protocol is a store of value but also a true P2P
payment settlement network and data transmission Blockchain that can
serve industry and enterprise needs amongst a wide array of sectors
such as fintech, web, digital marketing, social media, gaming, content
creation, IP, medical and much more.
The specs below make a clear case as to why PAC Protocol has been
built, tuned, and is constantly updated for true P2P and business
level transactional capacity for both today and tomorrow, as well as
being much more ecologically friendly and sustainable over time. The
PAC Protocol network runs on a pure proof-of-stake technology stack,
whereas Bitcoin and similar “first-gen” networks run on proof-of-work,
or in other words, dedicated and power-hungry computers constantly
attempting to solve complex computer “puzzles”.
According to some studies,
Bitcoin’s Proof of Work system will be using up as much energy as
all of Denmark by 2020. By moving completely away from “mining” and the reliance on
giant mining rigs operated by centralized companies at an industrial
scale,
PAC Protocol’s pure proof-of-stake network allows for drastically
reduced expending of energy and strain on the environment, so much so, that the popular Smart Contract focused network called
Ethereum (ETH), has a planned upgrade of the technology to
proof-of-stake.