PELLPell Network Price

The Three-Tiered Security Model

Pell Network operates through a sophisticated three-layered structure, each designed to enhance scalability and security:

1. Restaking Layer: Users are encouraged to deposit Bitcoin or LSDs within smart contracts that convert these assets into restaked forms. Not only do these assets secure external networks, but they remain liquid, enabling users to participate in decentralized finance (DeFi) protocols while earning rewards through restaking.

2. Pell Chain: This purpose-built blockchain leverages a modified proof-of-stake consensus method. Operators are required to stake $PELL tokens to run validation nodes, which are essential for coordinating cross-chain messages and securing the network. The PellCore module is responsible for block production, whereas PellRelayer manages communication across chains.

3. Service Layer: This layer hosts the various Decentralized Validated Services, which span a range of uses from oracle networks to bridge validators. Service providers utilize $PELL tokens to access the pooled security, thus creating a self-sustaining economy whereby stakers receive fees for their validation efforts.

Trustless Cross-Chain Execution

Pell Network employs advanced technologies such as Trusted Execution Environments (TEEs) and Multi-Party Computation (MPC) to ensure secure cross-chain transactions without reliance on centralized intermediaries. In initiating an omnichain transfer, Pell's validators execute several steps to ensure security and integrity while eliminating the necessity for wrapped assets—thus maintaining the Bitcoin-level security guarantees.