Freicoin is a peer-to-peer (P2P) sha-256 cryptocurrency based on the accounting concept of a proof-of-work block chain used by Satoshi Nakamoto in the creation of Bitcoin.
The main difference and feature of Freicoin is demurrage. A demurrage fee 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. (source: freico.in)
Official Freicoin website with wallet download links: http://freico.in/
Remember to use the latest Freicoin wallet version to avoid issues. The current version as for January 2014 is 0.8.3.1 (Download Windows FRC wallet).
- SHA-256 Algo
- Blocks every 10 minutes
- Coin supply* 100 million coins will be available
- Difficulty adjustment 2016 blocks
- 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)
Freicoin mining pools:
During the 3-year initial distribution, part of the newly created currency is given to the miners in proportion to their contribution, starting at 30% of new coins (on launch) and decreasing to 5% (at the point of stabilization). While the network is small and young, it needs more care and attention than when it’s become mature. The remaining currency is distributed through the Freicoin Foundation, a non-profit organization aiming to promote Freicoin and support a sustainable world. 80% of the total will be distributed through the Foundation. (source: freico.in)