Phore aims to establish and expand decentralized commerce globally. The project was self-funded and did not have an ICO/Premine. The executive team is based in the US and the UK. Phore's blockchain network utilizes Proof-of-Stake, rewarding participants through staking and masternodes. The team is developing a sharding architecture to achieve faster transaction speeds and support smart contracts and decentralized applications. Phore currently has a decentralized marketplace and plans to introduce decentralized crowdfunding. Additionally, Phore offers B2B blockchain services for organizations interested in utilizing distributed ledger technology.