Cryptocurrencies coins have been increasing in number at the same time enjoying more success lately. As of December 2017, there have been reported to be over 1300 cryptocurrencies available in the cryptocurrency market and the internet. One such currency that you can use it to transact online is the FirstCoin project. FirstCoin(FRST) is a secure platform where business people and investors do transactions without having to worry about bank charges or levies. The platform is supported by a robust community and has been gaining popularity recently. Businesses are supporting the project because it is similar to Bitcoin and offer top-notch security. You can download your FirstCoin wallet and perform everything transaction on the platform. There are also no monthly charges.
What makes FirstCoin a great project?
Easy to setup
No one wants a platform that is complicated and complex. Many people associate well with a simple, easy to set up the platform. That is what FirstCoin offers its users. FirstCoin works anywhere in the world, it doesn’t matter which part of the world you are, setting up your transaction is always smooth. The first set up involves downloading your wallet that comes with no monthly charges. All transactions on the platform are verified by a POW confirmation network. There is little or no transaction fee depending on the transactions.
Thanks to the blockchain technology, users can track transaction authenticity and coin generation once they start transacting on the platform. The platform is based on Bitcoin technology and seeks to decentralize banking sector while maintaining security. FirstCoin offers a value protection program to make sure there is no interference from hackers, government officials or cybercriminals. The program has the duty to verify the authenticity of coins.
FirstCoin is not affected by problematic countries authorities, banks or any government. You can download the wallet or register online and enter your personal information without worrying that someone will access your information. Personal information on the platform is not shared with anybody and users perform all their transactions anonymously.
How is the FirstCoin mined?
FirstCoin mimics the Bitcoin in at least all its processes. It uses Scrypt algorithms just like Bitcoin to check and makes sure the coins are authenticated. Computers running the mining software on the platform are joined in specialized pools. Only 110 million can be mined. The transaction and verified and authenticated by computers that are used to solve mathematical problems. Since the currency is relatively new, computers used and software’s get better rewards and solve issues easier.