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Palette
About Palette
Palette (PLT) is the native utility token of the Palette Network, an ERC-20 token on the Ethereum blockchain. The network is a platform for issuing, managing, and distributing digital items, allowing them to be handled as Non-Fungible Tokens (NFTs) on its own blockchain, Palette Chain. The Palette Token (PLT) ensures the stable operation of Palette as a decentralized platform. It’s used for compensation for ODN nodes, staking to become a data holder node, and bidding by organizations or entities wanting to publish data on the ODN.
Palette (PLT) is the native utility token of the Palette Network. It’s an ERC-20 token on the Ethereum blockchain. The Palette Network is a blockchain network for issuing, managing, and distributing digital items. Users are free to transfer ownership of digital items and utilize them in applications. Palette allows digital items to be handled as Non-Fungible Tokens (NFTs) on its own blockchain, Palette Chain.
The Palette Token (PLT) ensures the stable operation of the Palette as a decentralized platform. It is used as a means of compensation for ODN nodes, ensuring the integrity and availability of data on the network. To become a data holder node in the ODN, a certain amount of PLT tokens need to be staked. Organizations or entities wanting to publish data on the ODN use PLT tokens to bid for their data to be stored by nodes.
**The official Palette Token ticker is “PLT” and trades under that name on all the exchanges where it has been listed. The designation “PALET” is for CryptoCompare.com only.*