Ferrum Network High Speed ​​Technology Network

Andreas Bor
Aug 14, 2019 · 5 min read

Blockchain technology has been described as potentially destroying many industries at low cost. Transactions, eternity and increased security. In subsequent years, many other blockchain implementations were developed, each of which demonstrates unique functions adapted to specific use cases.

Blockchain allowed to release almost all assets through the structure of a distributed ledger. Using cryptocurrency tokens, these assets can be given economic value to launch and verify some transactional processes. Several network protocols were developed by a number of startups and companies that were created to create blockchain-based solutions.

In this regard, I will provide interesting information, especially in the world of cryptocurrency. This project, linked to the financial world under the name Ferrum Network, is a fast interconnect network designed for decentralized financial applications.

Developed by experts in distributed systems with more than ten years of experience in the world’s largest technology company, the Ferrum network was created to solve two fundamental problems that impede the implementation of cryptocurrencies: slow transaction speed and lack of interaction between networks. Instead of building an autonomous network, Ferrum Network uses the value of an existing blockchain and connects it to a high-speed transaction level that allows peer-to-peer transactions from any digital asset.

Like the Lightning Network for each blockchain, the revolutionary Ferrum technology unites networks that provide consistently high speed and low transaction costs for each digital asset, such as BTC, ETH, XRP, EOS, Zcash, and so on. It even works with paper currencies. Focusing on lasers on user acquisition and global adoption, Ferrum Network has created a line of financial applications vertically integrated into the network, allowing users to buy, exchange, complete transactions and store any digital assets without risk of confrontation between the parties.

Ferrum network technology

DAG Book: Decentralized books are similar to blockchain, but are designed for fast transactions, minimal network costs and the absence of miners.
Interoperability network: introducing innovative cross-chain solutions, Ferrum can work with any blockchain / network.
Decentralized proxy tokens: Decentralized proxy tokens with guaranteed stability allow the exchange / transaction of any digital assets, including digital fiat.
High-frequency trading: genuine support for moving assets outside the network and conducting high-frequency trading and transactions for a nominal fee.
FRM token: network gas, FRM tokens are consumed and burned for each transaction in the network.
Import / Export Value: Ferrum is designed to import / export values, including paper currencies.

Key Features of the Ferrum Network

Interchain Interaction: The next generation protocol designed to connect with each blockchain.
High speed and low cost: peer-to-peer transactions, which within a millisecond confirm that the cost of the network is about 1 cent.
An integrated line of financial products: buy, exchange, complete transactions and store any digital assets using sophisticated financial applications that work on the network.
Running with users and network utility: real products, real users, proven methods of doing business.

Ferrum Network launches a vertically integrated line of financial products over the network, which gives users the ability to control their financial life.

Kudi Exchange’s Fiat Gateway: You can buy and sell cryptocurrency faster and cheaper with the Fiat Gateway Ferrum Network, starting with a West Africa exchange and their first Africa smart phone wallet offering a set of stable coins in a fully regulated US dollar and the ability to send Paper currency.
UniFyre Wallet: You can carry out any operations with digital assets without risk using UniFyre Wallet. UniFyre Wallet offers groundbreaking features such as risk-free over-the-counter trading, instant market trading, and security features to prevent loss due to errors.

Ferrum Network has its own original token, PUR (short for PURE FERRUM) and other proxy tokens. As already mentioned, Fe is used as the “gas” in the network, similar to the cost of Ethereum gas on the Ethereum blockchain. Proxy tokens mean tokens that are imported into the network and have the same meaning as the original. Here is an example. If 1 BTC is added to the Ferrum network, it will be exchanged for 1 Fe (BTC) — with the same value and an external exchange protocol will be used. Something similar happened with paper currencies. If USD or EUR is sent to the network, we will have Fe (USD) and Fe (EUR) in our network.

In short, Fe tokens, such as Fe (BTC), Fe (ETH), are created by blocking the initial value, they have developed several methods for this. Some of them include smart contracts, and some do not. However, they all provide transactional security.

Token FRM

FRM tokens will be used to quickly complete all transactions with the lowest fees and the most reliable way. Conversion of FRM tokens for digital currencies and Fiat will also be available.

Roadmap

Team

Advisors

Ferrum Network Partners

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade