FreiCoin

Freicoin - peer to peer currency

Freicon Information

Algorithm Array
Proof type PoW
Start date 05/10/2015
Coin Tag N/A
Website Freicon

Freicon-Peer to peer digital currency

FreiCoin is a distributed, decentralized, peer-to-peer digital currency for addressing and realigning financial interests of both working class people as well as of affluent people doing their online transaction with stability and transparent protection.

Unlike USD or EURO, FreiCoin in not controlled by any regulating authority or banking institutions. Rather it is decentralized and self-regulating with a demurrage fee. Its network ensures its circulation is transparent. The carriers of the currency pay this fee mechanically to those community members who invest work to protect the currency.

How does it work?

It is an execution of Bitcoin which misses about 5% of its value every year. The demolished money gets vanished, being lastingly taken out of the movement. However, to retain prices as stable, an equal-valued lot of newly minted coins is shaped. And it also dispersed to the hard-working miners who maintain at their individual cost the global account book of electronic transactions.

Mining

The economics of mining are set in a way that most of it are spent on the real capital essential to protect the network, thus compelling the freshly minted coins to flow back into the economy. The supported mining incentive drives contribution, turning it very problematic, both technically and sparingly, to operate FreiCoin as has been done with the traditional systems of money in use today.

BitCoin vs. FreiCoin

Bitcoin and FreiCoin support each other as complementary free software. Free software is such software that esteems autonomy as a user and with a collective development model. This currency is a fork of Bitcoin because the developer never wanted the digital currency to operate technically. The technical developments will be surrendered to “upstream” to the Bitcoin developers.

It has been said on behalf of FreiCoin that it is better to draw upon features and bug fixes applied to Bitcoin. The software development relationship of this digital coin with the bitcoin community is based on teamwork, not due to competition.

Digital currency of future

However, Demurrage currencies like FreiCoin bring into line in ducements of bankers and financiers with the urgencies on the working class, incentivizing the wealthy through their own self-interest to invest in growth, jobs, and ventures with long-term thinking benefits. It is a potential digital currency of future.

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