### What is Phoenix?

Phoenix is a Layer 1 and Layer 2 blockchain infrastructure platform designed for decentralised artificial intelligence (AI), computation scaling, and data-driven Web3 applications. It operates on the BNB Smart Chain (BEP20) and has unique features that cater to decentralised AI, federated learning, and integration, as well as privacy-preserving data processing.

### How does Phoenix work?

Phoenix functions on the Binance Smart Chain (BSC) using a Proof of Staked Authority (PoSA) consensus mechanism to ensure fast and secure transaction processing. It employs federated learning algorithms for decentralised AI applications, allowing AI models to be trained on distributed data without compromising privacy. The platform also leverages multi-party computation to analyse and share value securely. Smart contracts are used within the ecosystem for on-chain analytics and data computation.

### What are the potential use cases for Phoenix?

Phoenix can be applied across various industries, including retail for enhancing customer engagement, financial services for AI-scoring models, consumer IoT for decentralised apps, supply chain for on-chain analytics, healthtech for smart health apps, and Web3 gaming for AI capabilities. Notably, it has partnered with Alchemy Pay for fiat onramp integration.

### What is the history of Phoenix?

Launched in October 2018, Phoenix has evolved over the years with significant milestones including a token redenomination on November 2, 2021. The coin has seen fluctuations in price and achieved a listing on DePINScan and various exchanges. Phoenix continues to advance by integrating AI and IoT capabilities, enlarging its market presence through strategic partnerships.

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