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FOIN – the decentralized peer to peer cryptocurrency for the financial sector.
Currently addressing the issue of the global siloed investment scene, but not limiting itself to this sector for the future, FOIN aims to be the cryptocurrency bridging the finance sector with the personal investors by acting as a highly curated investment medium. FOIN will act as the de-facto cryptocurrency coin within this ecosystem made of financial services providers, blockchain applications and A.I. (artificial intelligence) modules.
FOIN solve the pain of being both banked and unbanked making it easy to join the global economy and escape the inefficiencies of the current financial institutions. Besides, FOIN brings novel tech to improve blockchain technology with Proof-of-Stake (PoS) protocol.
From a technical point of view, FOIN is a hybrid cryptocurrency, meaning it uses Proof of Work for the initial distribution of coins (which is what the majority of cryptocurrencies use) but then switches to fully Proof of Stake to provide the network security. Under this hybrid design, after the initial mining using Proof of Work is complete, the Proof of Work consensus mechanism is irrelevant for the long run. From the user's point of view, Proof of Stake is the only consensus mechanism available, thus providing a more secure, environmentally friendly and more cost-competitive peer to peer cryptocurrency. In FOIN, Proof of Stake is the core consensus mechanism used to settle transactions.
FOIN has been built with various use cases in mind, from improving upon the gold standard of Bitcoin and commercial protocol of Ripple to connecting a vast decentralized network of businesses.
Token Status and Distribution
1 FOIN = 1636$ (13.05.2019)