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About Pin
PIN is a PoW-based cryptocurrency designed for indexing and storing metadata on the blockchain. It supports the Open Index Protocol (OIP), enabling decentralized and immutable data publishing. Originally launched as FLO in 2013, PIN was rebranded to expand its role in Web3. It features fast transaction speeds, a scalable design, and enhanced security. Wrapped versions exist on Ethereum and Binance Smart Chain.
PIN is a proof-of-work (PoW) cryptocurrency designed to index and store metadata on a blockchain. It serves as the base layer for the Open Index Protocol (OIP), an open-source framework for publishing, indexing, and monetizing digital content. Originally known as FLO, PIN rebranded to expand its role in the Web3 ecosystem. The network supports immutable metadata storage, ensuring data permanence and integrity. PIN also exists as a wrapped token on Ethereum and Binance Smart Chain.
- Decentralized Metadata Layer: Provides a blockchain-based index for digital content.
- Security and Data Integrity: Uses PoW consensus with the sCrypt algorithm to ensure immutability and prevent large-scale reorganizations. Transactions with 100 confirmations (~1 hour) become irreversible.
- Scalability: Supports up to 1040 bytes per transaction with a maximum block size of 1MB.
- Fast Transactions: 40-second block time.
- Predictable Issuance: Block rewards are halved every 800,000 blocks.
PIN is used to store and index metadata on its blockchain, enabling decentralized applications to publish, retrieve, and verify information. Users and developers can "pin" metadata to ensure its immutability and accessibility. The Open Index Protocol (OIP), built on PIN, provides a decentralized database for various digital content applications, including media distribution, property records, and scientific data management. PIN's structure supports Web3 infrastructure by preventing data loss and ensuring proof of data integrity.
PIN, originally launched as FLO in 2013, was developed as a Litecoin fork to offer a decentralized and efficient metadata storage system. It was created without a pre-mine, ICO, master-nodes, or a developer fund. The PIN Core team includes key contributors such as Joseph Fiscella, Devon James, Davi Ortega, and other blockchain developers and researchers. The community-driven project continues to evolve, focusing on expanding its role in Web3 and decentralized data management.
Users can migrate their FLO tokens to PIN on Ethereum or Binance Smart Chain through the PIN Labs one-way bridge. This upgrade allows access to wrapped versions of PIN for interoperability with various blockchain ecosystems.
Although 'PIN' was the ticker assigned at the deployment of the Pin Token's smart contract, it is also in use by another asset with a larger market presence and higher trading volume on major exchanges. To avoid confusion in the marketplace, the alternative ticker 'PINCHAIN' has been adopted for this token. This designation ensures that assets are distinctly identified.
