PNP16 Protocol

The PNP16 protocol was developed in order to bring forward a set of standards and provide a guideline for building on the Pecu Novus Blockchain Network, token creation, and the integration of proprietary security protocols for applications to be built on the network.

The PNP16 standard also brings with it a set of proprietary security protocols that protect users. PNP16 tokens that are created on the Pecu Novus Blockchain create a single instance on the mainnet with its specific parameters via a smart contract.

Once created, every transfer is recorded on the mainnet, after which it will be publicly viewable on the public ledger and on Pecuscan. Each token has the ability to show its specific transactions on a subset of the mainnet specifically for that token, whilst still having all transactions register on the mainnet and allowing for continued development on that subset as layer-2 applications.

Pecu Smart Contracts work in a similar fashion as other blockchain infrastructure networks work, with one major functional difference.

A simple user interface was developed that allows members to place PECU in escrow for a transaction. There is no coding needed in order to issue this simple smart contract; it is as simple as selecting the date of the escrow release and any public or private notes surrounding the transfer. This is able to be done via the MVault that has been integrated into the Pecu Terminal and Wallet, so a simple click of the escrow button in the transfer area makes the magic happen.

The simple user interface for escrows was an important feature as it allows anyone accustomed to using Web2 interfaces to take advantage of the power of putting PECU in escrow. This is only the beginning, because any token created on the backbone of the Pecu Novus Blockchain Network will have the same capability. It is all on-chain and transparent.

This is step one of the simple user interface. Current engineering pipelines include additional simple user interface solutions to complement the escrow system, as well as a code-based platform for creating more complex smart contracts.

The integration of the MVault in the Pecu Terminal is significant, as it not only allows for the safekeeping of various digital assets, it also functions as the engine that makes smart contract writing exceptionally simple for network members. It will also bring with it the integration of e-signature capability, adding the element of digital versions of physical contracts.