PKT is paid to PacketCrypt miners
PKT is a native blockchain based on bitcoin code. It has a 1 minute block time, uses PacketCrypt proof of work and has a Network Steward address which receives 20% of every coinbase payout. There are a total of 6 billion PKT which will be mined and rather than an abrupt halving of the payouts every 4 years, PKT uses a steady decay of 10% every 100 days.
Because PKT is designed for microtransactions, there will be a total of 6 billion PKT mined whereas bitcoin will max out at 21 million. Furthermore, each PKT is subdividable into 1,073,741,824 units (2 to the 30th power) whereas there are only 100 million satoshis per bitcoin. When the Bitcoin price reached almost $42,000 in January 2021, the price of a satoshi was 0.04 cents. This cost per satoshi is impractical for microtransactions, even with nearly free transacting over the Lightning Network.
PKT is designed around the idea of fast cheap transacting in small denominations to enable a bandwidth trading marketplace. PKT Cash provides an economic incentive for people to connect bandwidth to the network. The Network Steward is designed to ensure funding is available to build-out decentralized internet infrastructure and open-source technology.
The Network Steward receives 20% of every coinbase
The Network Steward is an address which gets 20% of every new block-mine so that developers can finance the building of Internet infrastructure and mesh network technology. Unlike a pre-mine or founder's fee, the recipient of the network steward payout can be changed by a PoS vote.