Read FAQs about Hash. If you don't see the answer to your question below, please email firstname.lastname@example.org Opens a new window..
Hash is the native security token to Provenance. It represents digital equity in the administrator of the blockchain. As members use Provenance for benefits including reduction of cost, reduction of risk, greater transparency, and new market opportunities, fees are paid into Provenance and converted to Hash.
The primary purpose of Hash is as a governance and equity medium on the blockchain.
Provenance has a fixed token stock of 100 billion Hash. Hash cannot be created or destroyed.
Current holders of Hash are accredited investors. Figure Technologies currently owns 72% of Hash; Node stakeholders own 5%, PBI owns 10% and investors own 13% (as of 7/31/20).
The market capitalization of Hash should be commensurate with the present value of the fees paid to transact on Provenance. Provenance fees are targeted to be roughly 1/3 of the economic benefit of using the blockchain. Fees paid go to the Provenance administrator, stakeholders and Hash holders, with the majority of the economics accruing to the Hash holders.
Stakeholders - also known as “nodes” - host hashed representations of all documents, data, transactions and smart contracts (for validating documents, data and transactions) that are added to the blockchain. Nodes are paid Hash for this service.
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