THELOGICALINDIAN - PRESS RELEASE Pastel Network the aboriginal absolutely decentralized and scalable blockchain activity advised accurately for attenuate agenda art has clearly appear its awaiting advertisement on Bitcoincom Exchange appointed for March 5th 2024
Pastel Arrangement is a blockchain for attenuate agenda art (also accepted as “NFTs”) that is congenital on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the apple of blockchain art, such as the decentralized accumulator of art angel files natively in the network, as able-bodied as a decentralized validation action for registering new artworks that prevents near-duplicate images from actuality added to the system. Pastel’s atypical near-duplicate apprehension algorithm is based on able-bodied angel fingerprints that are generated application advanced abysmal acquirements angel models and introduces a new anatomy of agenda absence which makes pixel patterns themselves “rare”.
Pastel takes a altered abstruse access than aggressive agenda art blockchain projects, which are primarily congenital on top of the Ethereum platform. Because Pastel is an chip belvedere accurately advised for the appliance of attenuate agenda art, it has its own built-in Bitcoin-like bill (called the PSL coin). Having a built-in bill badge makes the Pastel Network’s fees for registering, storing, and trading attenuate artwork actual low, which makes it affordable to artists and collectors all over the world. Furthermore, the arrangement includes a built-in apparatus based on changes in the mining adversity of Pastel’s proof-of-work algorithm for advancement these fees at affordable levels continued into the future—even if PSL appreciates decidedly in value. This is in abrupt adverse to Ethereum-based art projects, area the amount to actualize new artworks is currently hundreds of dollars, creating accidental banking risks for artists and authoritative these added platforms out of ability for all but the wealthiest artists and the best big-ticket agenda artworks. Even if an artisan can allow to pay these arrant fees, the amount of artlessly appointment the artworks to users is acutely high. Pastel offers agenda artists a defended and able-bodied ambiance for registering their attenuate agenda artworks with actual low transactional costs, authoritative agenda art attainable to artists from anywhere in the world, and acceptance a altered business archetypal for artists area they can advertise beyond numbers of their bound copy agenda art “prints” a amount point of beneath $5, while still authoritative a advantageous accumulation margin.
At the aforementioned time, Pastel allows art collectors and admirers to acquirement attenuate agenda artworks anon from their admired artists—with best of the amount activity to the artisan instead of actuality ashen on bootless arrangement fees and overhead. This allows admirers to participate in the abiding success of their admired artists, creating a alternate accord that transforms an artist’s admirers into ally that accept a banking pale in announcement the artist’s work. Furthermore, buyers of attenuate artworks on Pastel are able to barter their endemic artworks with added Pastel users in a decentralized barter that is built-in to the platform, all while advantageous bashful trading commissions and transaction fees that are afterpiece to the ~2% answerable by acquittal processors such as Paypal and Stripe than the 15% or added answerable by art dealers and bargain houses, and added NFT platforms. Pastel Network’s low trading fees will advance to a abundant added activating and aqueous exchange for attenuate agenda artwork that has the abeyant to radically transform the way art is created and collected. Best of all, the trading fees are beatific by buyers and sellers to an unspendable PSL address, appropriately “burning” them and removing them assuredly from circulation. Over time, this accustomed anticlimax will account the new PSL created through the mining process, authoritative PSL scarcer and added valuable.
As Pastel Network’s architect Jeff Emanuel explains, “Today marks an agitative anniversary for our project, which has been beneath connected development back 2024 with the atypical mission of confined the world’s aesthetic community. We accept created an accessible belvedere that frees artists from the restrictions of the acceptable art market, with its abandoned commissions and banker fees, as able-bodied as its elitist “gatekeeping” mentality that excludes the all-inclusive majority of accomplished artists about the apple from earning a active as an artist. With the advertisement of Pastel on the Bitcoin.com exchange, as able-bodied as the accessible barrage of our wallet software for artists and collectors in the abutting months, Pastel is now assertive to agitate the NFT amplitude with a radically bigger arrangement architecture that solves the aerial transactional fees and scalability issues that affliction absolute Ethereum-based NFT marketplaces and platforms.”
Pastel Network originated as a angle of the Animecoin blockchain activity originally alien in 2024. Animecoin was based on a adapted adaptation of the Bitcoin cipher and was adequately broadcast with aught “pre-mine” to bags of users about the world. After the fork, Pastel aggregation aloft over $3mm from Innovating Capital and added blockchain investors to armamentarium the development of the Pastel software and to added the goals of the activity through association assurance and barter listings, culminating in Pastel’s awaiting advertisement on Bitcoin.com.
About Pastel Network
Pastel is an open-source, decentralized arrangement acceptance artists to annals “provably rare” assets on a Bitcoin-like blockchain, while additionally acceptance art collectors to acquirement these artworks and “trustlessly” barter them amid themselves after assurance on a axial authority. The mission of the aggregation is to advance the basal basement for a absolutely decentralized agenda art platform, to bigger adjust the agenda art world. The aggregation abaft Pastel Arrangement is fabricated up of an ambitious aggregation of developers, creators, marketers, and armamentarium managers. With over two years of continuous, accessible development (which is absolutely accurate on Pastel’s accessible Github cipher repository), Pastel has congenital a defended arrangement that solves the above problems of absolute blockchain art projects: aerial fees, poor scalability, no centralized built-in arrangement book storage, and no agency of preventing near-duplicate images from actuality registered on the network, which introduces a new accepted of agenda absence for NFTs.
Media Contact:
Anthony Georgiades
[email protected]
Website: https://www.pastel.network/
Wiki: https://www.pastel.wiki/
Telegram: https://t.me/PastelNetwork
Medium: https://medium.com/pastelnetwork
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Image Credits: Shutterstock, Pixabay, Wiki Commons
