Phore’s mission is to establish and grow free to low-cost decentralized commerce on a global scale. According to the team, Phore had no ICO/Premine and was self-funded with a view towards sustainability. Phore’s executive team is located in the US and the UK. Phore’s blockchain network is based on a Proof-of-Stake system that rewards participants for helping to keep the network secure through staking and masternodes, offering a passive income. Phore’s sharding architecture that is in development aims to 'provide transactions speeds far beyond what is available today'. The team claims that this new architecture will serve as a platform for smart contracts and unlimited decentralized applications. Phore’s decentralized marketplace is currently available, with decentralized crowdfunding also planned in the future. Phore offers B2B blockchain services for companies interested in leveraging distributed ledger technology for their organizations.