What is Freicoin?
Freicoin is a peer-to-peer (P2P) currency based on the accounting concept of a proof-of-work block chain used by Satoshi Nakamoto in the creation of Bitcoin.
Unlike Bitcoin, Freicoin has a demurrage fee that ensures its circulation and bearers of the currency pay this fee automatically. This demurrage fee was proposed by Silvio Gesell to eliminate the privileged position held by money compared with capital goods, which is the underlying cause of the boom/bust business cycle and the entrenchment of the financial elite, and has been tested several times with positive results.Release date: December 21st, 2012
- blocks every 10 minutes
- coin supply* 100 million coins will be available
- difficulty adjustment 2016 blocks
- hashing algorithm SHA-256
- Arithmetically decreasing reward
- 4.89% annual demurrage
- 80% block subsidy goes to foundation for the first 3 years (about 500 coins for each of first 161280 blocks, total 80m)
|Adjusted ratio||6.15333769998 % BTC|
|Avgerage Profit||6.084514490473596 % BTC|