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What currency does PolySwarm (NCT) coin belong to?
The PolySwarm (NCT) coin is an ERC-20 token built on the Ethereum blockchain, offering security, liquidity, and interoperability for threat intelligence sharing.
Nov 29, 2024 at 10:50 am
What Currency Does PolySwarm (NCT) Coin Belong To?
Introduction
PolySwarm (NCT) is a decentralized network for threat intelligence sharing. It allows security researchers to contribute their threat data to a collective database, which is then used to train machine learning models that can detect and prevent cyberattacks. The NCT token is the native cryptocurrency of the PolySwarm network. It is used to reward researchers for contributing their data and to incentivize users to participate in the network.
What Currency Does PolySwarm (NCT) Coin Belong To?
The PolySwarm (NCT) coin is an ERC-20 token, which means that it is built on the Ethereum blockchain. ERC-20 tokens are a popular choice for decentralized applications because they are easy to create and use, and they can be traded on a variety of exchanges.
Benefits of Using an ERC-20 Token
There are several benefits to using an ERC-20 token for the PolySwarm network:
- Security: ERC-20 tokens are built on the Ethereum blockchain, which is one of the most secure blockchains in the world. This makes the NCT token resistant to hacking and fraud.
- Liquidity: ERC-20 tokens can be traded on a variety of exchanges, which makes them easy to buy and sell. This liquidity is important for the PolySwarm network, as it allows researchers to easily convert their NCT tokens into other currencies.
- Interoperability: ERC-20 tokens can be used with a variety of other decentralized applications. This interoperability is important for the PolySwarm network, as it allows researchers to use their NCT tokens to access other services and products.
Conclusion
The PolySwarm (NCT) coin is an ERC-20 token that is used to reward researchers for contributing their threat data to the PolySwarm network. It is a secure, liquid, and interoperable token that is well-suited for use in the decentralized threat intelligence market.
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