The mission of Phore is to establish and grow free to low-cost commerce on a global scale. According to the team, Phore was self-funded and had no initial coin offering or premine. The executive team is based in the US and the UK. The Proof-of-Stake system that Phore uses rewards participants for helping to keep the network secure through staking and masternodes. The architecture being developed by Phore aims to provide transactions speeds far beyond what is available today. This new architecture will serve as a platform for smart contracts and unlimited applications, according to the team. Decentralized marketplace is currently available by Phore. Decentralized crowdfunding is planned in the future.
