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Faircoin

From EverybodyWiki Bios & Wiki

Faircoin
File:Faircoin Logo.png
Official Faircoin logo
Denominations
PluralFairCoin
Ticker symbolFAIR
NicknameFair
Development
Original author(s)Anonymous
White paperLink to v2 White Paper
Code repositoryhttps://github.com/faircoin/faircoin
Development statusActive
Forked fromforked from Bitcoin 0.12
Written inC++
Operating systemWindows, OS X, Linux, Android
Developer(s)Thomas König
Source modelOpen source
LicenseMIT License
Websitehttps://fair-coin.org/
Ledger
Timestamping schemeProof of Cooperation
Hash functionsha-256
IssuanceInitial coin creation in block 143 (https://chain.fair.to/block?block=143) by the chain administrators. The amount created was taken from the FairCoin V1 blockchain at height 399028.
Block rewardTransaction fees go to the CVN operator whose node created the block.
Block time3 minutes [1] The block time depends on the current setting of the dynamic chain parameters. (https://chain.fair.to/blocks?block_type=params)
Block explorerhttps://chain.fair.to
Circulating supply53,193,831.467966 FAIR [2]
Valuation
Exchange rate1 FAIR = 1.2 EUR (20 February 2018) [3]

Search Faircoin on Amazon.

FairCoin (abbreviation: FAIR) is a cryptocurrency that was created in 2014 by an anonymous developer but abandoned soon afterwards. It was Enric Duran, with the help of Thomas König, who rescued the currency[4] and relaunched it to promote a fairer global economy within the framework of the global Faircoop project.[5][6][7][8]

In addition to being a cryptocurrency that could be an alternative to the conventional monetary system,[9] FairCoin also aims to contribute to the creation of a cooperative global ecosystem capable of functioning as an alternative to capitalism by promoting economic justice in the relationships between people, collectives, cooperatives, and non-profit organizations.[10][11][12]

It is based on the ongoing collaboration between people involved in these kinds of initiatives that this currency has gradually increased in value relative to fiat currencies. It now has a value useful for global exchange and, therefore, for fulfilling its promise of building an alternative economic system.[13]

Origin;

FairCoin was created in March 2014 by an anonymous developer, who then abandoned it a few weeks later. In April 2014, Enric Duran recovered it with the help of Thomas König, an experienced software developer, and in May 2014 the community took over FairCoin.[14]

Initially, 50 million FairCoins were created. Between March 6th and 8th, 2014,[15] FairCoins were distributed through an "airdrop" or mass gift of 1,000 FAIR per hour to anyone who registered to show interest in the coin.[16] In this way, FairCoin became the first currency not needing to be mined, but instead fairly distributed to promote equality rather than financial gain. However, the scope of the airdrop system through an internet forum was very limited, and therefore, the initial distribution of FairCoins could not be considered equitably or efficiently distributed.[17]

Relationship between FairCoin and FairCoop ;

With the rescue of FairCoin, Enric Duran added a fundamental tool to build another global project: FairCoop, a global open cooperative organizing itself online, outside the limits and controls of nation-states.[18] To achieve its goals, FairCoop has developed and built a set of resources and tools to work with FairCoin, such as FairMarket, useFairCoin, getFairCoin, FairToEarth, FreedomCoop, FairFunds, and FairSaving.[19][20]

Currently, FairCoop is promoting FairCoin as a cryptocurrency for resource redistribution and building a new global economic system[21], as the transformation to a fairer monetary system is key to its philosophy.

Precisely what makes FairCoin different from other currencies and coins is its specific use as a tool for FairCoop[22], i.e., as a currency designed to act as a reserve for FairCoop's value and aid in the redistribution of its capital to socially and environmentally sound projects, such as:[23][24]

5,000,000 FairCoins in the Global South Fund 2,500,000 FairCoins in the Commons fund 1,500,000 FairCoins in the Technological Infrastructure Fund 1,000,000 FairCoins in the pooled fund

FairCoin Features;

The FairCoin cryptocurrency manages to overcome the limitations of social currencies designed for local use only, and not previously interconnected, often remaining tied to fiat money and subject to the same fluctuations.[25][26][27] through the development of a software wallet for electronic devices.[28]

Initially, FairCoin used a hybrid POW/POS (Proof of Work/Proof of Stake) system[29], but from 2017, with the implementation of FairCoin 2, it switched to a PoC, or Proof of Cooperation system.[30][31][32][33]

Unlike other cryptocurrencies, FairCoin no longer has any blockchain mining or minting functionality (both competition-based systems).

The generation of blocks in FairCoin is now performed by so-called Cooperatively Validated Nodes (CVNs) that cooperate to protect the network (hence this system is called Proof of Cooperation, or PoC, because it is based on an automated rotation model where all CVNs discover an equal number of blocks). FairCoop is committed to cooperation as an effective and comprehensive approach that facilitates security and immediately confirms microtransactions.

To be part of the CVN network, you need to complete a node certification procedure managed by the decentralized network of FairCoop local nodes.

In this way, FairCoin is the first blockchain to combine human and computational trust.

With PoC or Proof of Cooperation, there is no reward for computing blocks on the blockchain ("mining"). Transaction fees now compensate the CVNs for block creation.

References

  1. ↑ "Real-time statistics of FairCoin blocks". Roland Alton. 20 February 2018. Retrieved 20 February 2018.
  2. ↑ "Real-time Faircoin explorer showing the coin supply". Faircoin developer team. 20 February 2018. Retrieved 20 February 2018.
  3. ↑ "Historical record of Faircoin official prices". Faircoin developer team. 20 February 2018. Archived from the original on 20 February 2018. Retrieved 20 February 2018.
  4. ↑ El Asri, Lucía (2015-05-04). "Faircoin, la criptomoneda del Robin Hood catalán que "expropiaba" a los bancos para dárselo a los pobres". ElDiario.es.
  5. ↑ "El 'Robin Hood' español habla en RT de Fair Coop, la primera cooperativa mundial". RT - Canal de Noticias en Español. 2014-09-17.
  6. ↑ Schneider, Nathan (27 May 2015). "5 Ways to Take Back Tech". The Nation. Archived from the original on 13 August 2015. Retrieved 27 February 2018.
  7. ↑ Kothari, Ashish (2015-06-22). "Is Europe staring at a second Renaissance?". India Together.
  8. ↑ Baceiredo, Fabien (24 July 2015). "365 initiatives pour réinventer notre Monde". libro interactivo: 51. Archived from the original on 25 April 2015. Retrieved 27 February 2018.
  9. ↑ BOLLERO, DAVID (2014-09-18). "Nace Fair.coop, la cooperativa que combate el capitalismo desde dentro". Diario Público.
  10. ↑ "Faircoin, criptomoneda para un cambio social". Tecnoparanoids. Radio Ela. 2015-05-22.
  11. ↑ G. de Juan, Carlos (2015-05-27). "Criptomonedas para cambiar el mundo (I)". El País.
  12. ↑ FRESNEDA, CARLOS (2 August 2015). "'El cambio en las relaciones sociales y económicas es irreversible'". El Mundo.
  13. ↑ "Entrevista a Enric Duran: co-creador de FairCoop". Informa't! BCN. 5 November 2014.
  14. ↑ Schneider, Nathan (7 May 2015). "On the Lam with Bank Robber Enric Duran". Vice News.
  15. ↑ El Asri, Lucía (2015-05-04). "Faircoin, la criptomoneda del Robin Hood catalán que "expropiaba" a los bancos para dárselo a los pobres". El Diario.
  16. ↑ Community currency engineer, Matslats (22 May 2015). "Financial hacking with Faircoin". Matslats.net.
  17. ↑ Schneider, Nathan (7 May 2015). "On the Lam with Bank Robber Enric Duran". Vice News. Retrieved 2 August 2015.
  18. ↑ G. de Juan, Carlos (2015-06-04). "Criptomonedas para cambiar el mundo (II)". El País.
  19. ↑ Bolier, David (2014-09-30). "Faircoin as the First Global Commons Currency?". Resilient Magazine.
  20. ↑ "Fairsaving, el ahorro colaborativo de FairCoop". Pressenza International Press Agency. 2015-06-11.
  21. ↑ Manrique, Patricia (2014-09-16). "Occupy the money: a por la economía descentralizada". Periódico Diagonal.
  22. ↑ Prieto, Pablo (2015-01-09). "FairCoop: virus of cooperation infects a new economy". Roarmag.org.
  23. ↑ Redacción (18 September 2014). "Nace Fair.coop, la primera cooperativa mundial por una economía justa"". El Salmón Contracorriente. Retrieved 24 July 2015.
  24. ↑ Duran, Enric (17 September 2014). "Enric Duran, "Fair Coop: Objectiu Planeta Terra"" (in spanish). Archived from the original on 11 April 2015. Retrieved 24 July 2015.CS1 maint: Unrecognized language (link)
  25. ↑ Prieto, Pablo (8 May 2015). "Lo que 'Salvados' no cuenta sobre Enric Duran" (in spanish). El Huffingonpost. Retrieved 24 July 2015.CS1 maint: Unrecognized language (link)
  26. ↑ Manrique, Patricia (2014-09-16). "Occupy the money: a por la economía descentralizada". Periódico Diagonal.
  27. ↑ Álvarez, Yago (13 July 2015). "El crédito tiene que ser algo comunal y público". El Salmón Contracorriente. Retrieved 24 July 2015.
  28. ↑ Prieto, Pablo (8 May 2015). "Lo que 'Salvados' no cuenta sobre Enric Duran" (in spanish). El Huffingonpost. Retrieved 24 July 2015.CS1 maint: Unrecognized language (link)
  29. ↑ Cat, Johnson (16 October 2014). "Fair.coop: Using Cryptocurrency to Bring Economic Justice to the World". Shareable.net. Archived from the original on 6 October 2017. Retrieved 24 July 2015.
  30. ↑ Busy (23 July 2017). "FairCoin Activates World's First Cooperative Blockchain - Introducing the Proof-Of-Cooperation Consensus (PoC) - Busy". Retrieved 5 October 2017.
  31. ↑ "FairCoin 2: la moneda PoC cooperativa". Cointelegraph (in español). Retrieved 5 October 2017.
  32. ↑ "Hay vida más allá del capitalismo - Saltamos". Saltamos (in español). 17 August 2017. Retrieved 5 October 2017.
  33. ↑ "Una criptomoneda cooperativa, justa y ecológica - Opcions". Opcions (in español). Archived from the original on 5 October 2017. Retrieved 5 October 2017.

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