Introduction To The Japanese Cryptocurrency FujiCoin

Introduction To The Japanese Cryptocurrency FujiCoin

FujiCoin is a cryptocurrency created in Japan which aims to facilitate payments around the world. FujiCoin’s goal is to popularise money transfers via

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FujiCoin is a cryptocurrency created in Japan which aims to facilitate payments around the world. FujiCoin’s goal is to popularise money transfers via the blockchain technology and introduce the benefits of cryptocurrencies to the masses. Payments with the Japanese coin are fast and secure while transaction fees are close to zero. FujiCoin runs on a distributed ledger where there is no 3rd party to take control over the data. The peer to peer network guarantees full transparency. All the payments are anonymous due to FujiCoin’s protective wallet. The risk of fraud or loss of personal information is completely eliminated.

FujiCoin was launched on June 28, 2014. The token was developed by a team of three people that have remained anonymous but carry the pseudonyms motty, DougB62 and MinermanNC. FujiCoin had its 3rd birthday in the summer of 2017, just after Japan accepted Bitcoin as a legal form of payment. Of course, not only Bitcoin will benefit from that new legislation. All cryptocurrencies in Japan are treated as a payment method no different than the one with a credit card or fiat currency. The only issue left for Japan is to figure out the standards for accounting of cryptocurrencies. When the problem is solved, Japanese people will be able to easily operate with FujiCoin hopefully bringing popularity to the token.

The total amount of FujiCoins is 10 billion coins and only 1,6% of them are previously mined. The premined coins were used in the beginning in order to popularise the cryptocurrency and give it a good start on the market. The plan for distributing the coin follows the S-Curve rule. This means that FujiCoin should be supplied according to a well thought out scheme in which ups and downs are smoothly taking place one after another. The goal of the plan is to bring extra stability to the coin by supplying only the amount of coins that is demanded by consumers.

FujiCoin runs on a Scrypt-N-Fix algorithm and a Proof of Work protocol. The coin can easily be mined with both CPUs and GPUs. FujiCoin, however, is ASIC-resistant, meaning that computer hardware which is specially designed for mining coins will be unable to participate in the mining process. Except for being mined, FujiCoins can also be traded for other cryptocurrencies on large exchange markets such as Bleutrade, Cryptopia, Yobit, C-Cex and many more. Online wallets run on Windows, Linux and Mac OS and paper wallets are also available for coin storage. FujiCoin is accessible for anyone and has all the potential to become a globally used cryptocurrency.

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