Layer 3

Trusted Phoenix Nodes

The third layer consists of Trusted Phoenix Nodes, which are essentially independent gold shops or entities participating in the network. These nodes play a crucial role in the decentralized custody and distribution of physical gold. To ensure trust and reliability, Phoenix Nodes are required to stake Phoenix Gold Coins (PGC) as a form of collateral and earn trust through a community-driven rating system. The staking mechanism incentivizes nodes to act in the best interest of the network, while the ratings provide Cypher holders with transparent feedback on the nodes' service quality.