The world of cryptocurrency keeps getting more and more enticing. With the availability of a wide array of cryptocoins, traders/coin holders are spoil
The world of cryptocurrency keeps getting more and more enticing. With the availability of a wide array of cryptocoins, traders/coin holders are spoilt for choice. With the entry of Flycoin into the cryptocurrency arena, there is so much to look forward to. There is a lot of talk about Flycoin which in essence is a mixture of rumor, half-truths, and facts and so on. Well, this article aims at indulging actual facts about Flycoin thus help readers completely understand all about the coin.
The genesis of Flycoin
Flycoin (FLY), a digital cryptocurrency was created with an aim of redefining the crypto world. It was primarily created to set the bar high in the crypto world by upholding high quality and ethical standards. FLY was also created to enhance coin visibility which was not fulfilled by its predecessor-the ROS coin.
What happens to ROS coin holders now that the coin has been replaced by Flycoin?
Flycoin accords current ROS coin holders an opportunity to swap their ROS for Fly. The swapping process only requires the individuals to send at the bitcointalk forum their respective ROS address and FLY address.
FLY coin special rewards and rules system
Just like other coins, FLY coin offers special rewards to small holders. The superblock rewards are guided by numerous rules which the holders must abide by. The rules are as follows:
1. Individuals are required to have one main wallet address only for mined coins.
2. Individuals are totally restricted from making outbound transactions via the main wallet address.
3. Individuals are supposed to have one savings address only.
4. It is mandatory for individuals to set up a secondary wallet. A secondary wallet is simply a savings wallet which was previously known as multisend. It is applicable in the event that individuals desire to sell some of their FLY.
5. The secondary wallet is where POS rewards extended to holders are sent automatically. Holders of Flycoin can only sell these rewards exclusively on the sell side.
1. It is perceived as a “hybrid crypto coin”.
This basically means that the coin is not fully decentralized. In other words, Flycoin is devoid of full control and at the same time has a degree of control.
2. Endowed with an efficient anti-dump system
Some holders of other types of crypto coins wake up one morning only to realize their coins have been dumped. This is alien in the world of Flycoin. FLycoin is the pioneer crypto coin in crypto history that cannot be dumped. Dumpers hardly hold sufficient coins to propagate any tangible damage.
3. Features an updated bootstrap
It is 100% true that Flycoin is the forerunner of a coin with bootstrap that is constantly updated in line with the latest block.
4. Guarantees safety of all holders
Flycoin requires top coin holder to claim their address. This makes all individuals aware of each and every holder.
1. The minimum POS stake age is 7 days
2. The maximum POS stake age is 28 days
3. Annual POS percentage is 50%
4. It comprises superblocks up to 20x
5. Maximum Flycoin supply stands at 150000
6. Individuals need 25000 Fly to run superblock
There is so much to know about Fly such that it is difficult to exhaust all details here. To get more information about FLY clink on this link https://coinmarketcap.com/currencies/flycoin/.