In December we wrote about new cryptocurrency which was going to be available to trade on the biggest polish cryptocurrency exchange market.
Some of the users weren’t content with an implementation of FuturoCoin.
Against the rumours
Sylwester Suszek, the CEO at BitBay handled the hate about future cooperation with FuturoCoin. The problem reached that high level that Polish Society of Bitcoin had decided to release a public letter addressed to BitBay in which they wrote:
“[…] Signing as a exchange market “Canon of good practise of cryptocurrency market entities in Poland” you have committed to take care of market of digital currencies in our country by, among others, warning your clients of organizations that are using the popularity of a new market to sell theirs “coins”, which fall shorts of encyclopedic definition of cryptocurrency. About company FutureNet and their currency – FuturoCoin, is growing more and more controversion.
[…] Therefore, we ask the BitBay board consider backing up from introducing Futuro Coin on your platform.”
FutureNet, a company which is a creator of FuturoCoin quickly commented on the whole situation:
“As a FuturoCoin is our cryptocurrency, we would like to add some words from us – FuturoCoin is and will be a top-notch product. We are using best efforts to implement our cryptocurrency to the as many bona fides and checked exchange markets as we can. We care primarily about Futuro’s users and all who will have something to do with it. The website of FuturoCoin is on the last stage of preparation, where all the documentation will be shared. We hope that many investors or people connected with cryptocurrencies will become convenient to FuturoCoin and platform itself – FutureNet.”
Against the rumours that whitepaper of FuturoCoin will never see the daylight – here it is along with the open code.
FuturoCoin – the future of coins?
As you can read in the statement, FuturoCoin is created to make quick transactions with very low fees. What’s more, the whole cryptocurrency is based on Dash blockchain to use its on-chain scalability. Due to that, FuturoCoin can be mined by the proof-of-work X11 algorithm.
“Masternodes and ordinary peers are equal in their connection behaviour,
forming a classical P2P network.
In the FuturoCoin ecosystem they are responsible for
– Instant Payments
– Low and constant transaction fee.”
FutureCoin will be limited by 100.000.000 coins. In the first days of its existence, the developers have decided to mine 30 millions of this cryptocurrency for marketing and promotion purposes. In the FuturoCoin’s whitepaper, it is underlined that community of this cryptocurrency is very important, that’s why active users will be rewarded. The emission rate is predicted for 10 years and the difficulty use Dark Gravity Wave algorithm. The difference between Bitcoin and FuturoCoin is that new cryptocurrency’s blocks will be mined every 1 minute on average. Every block will be rewarded by over 13 FuturoCoins.
Despite the fact that this cryptocurrency is based on Dash blockchain, allocation of block rewards will be different:
“Otherwise than in DASH where 45% goes to miner, 45% goes to masternodes
and 10% to the treasury, in FuturoCoin every block reward is divided into a
half: 50% goes to winning miner, 50% goes to masternodes network. FutureNet
company is responsible for governance operations as described in Governance
As Roman Ziemian, CEO at FutureNet commented for Blockchain24.co:
“We have worked on it for a long time to present a cryptocurrency that may become the future. We analyzed the problems that arise by using other cryptocurrencies to make FuturoCoin a reliable solution. We are proud of our project.”
Last modified: February 2, 2018
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