Fuloos- Three-layer sharded Blockchain
With the advancement of information technology and after the dot com bubble; the world saw a new era in the internet landscape that completely changed the business dynamics. As focus shifted from physical space to online space, financial institutions saw a new wave of inflows in the form of online transactions, digital payments and integrated online solutions all based on fiat currency. While the dominance of fiat currency has been a known reality after goldsmith era, the loopholes existed in system together with centralized supply especially after 2008 economic downturn paved way for a new technology and a totally new system- the introduction of decentralized currency supported by distributed ledger.
While it took almost a decade for bitcoin to be realized as an emerging currency yet the phase for mass adoption still looks far away. Since, the existing bitcoin also has its drawbacks including limited supply and a mere 4 transactions per second, it makes the case for scalability and adoption weak.
Fuloos- A decentralized high-capacity Peer-to-Peer transaction system
While bitcoin and its emerging peers face four leading problems; 1) centralization 2) size of data 3) scalability and 4) utility & adoption, Fuloos- an emerging concept will try solving them together under one wrapping. Fuloos is a decentralized high-capacity Peer-to-Peer transaction system.
What the fuss is all about….
The blockchain had an ICO planned for Dec-17 but due to promising idea and well-versed team, Fuloos funding worth $50million and hence was sponsored by three private investors from MENA. Fuloss till date has grabbed 1000+ partnerships, is in talks with 1500+ merchants and most importantly involves features that are necessary for survival in the crypto space. First of all, the coin has a 100 million supply, not too less and not too much- infact a perfect number to manage inflation and allow users to get hands-on it, however as the partnerships will grow and so will be the usage, the supply will be increased through mining. With support of private investors, the project looks well-funded, hence future OPEX should not be a concern.
Not PoW or PoS instead Hydro Scrypt..!
We all have read hundreds of blogs on Proof of Work (PoW) and Proof of stake (PoS), while the gurus are still deciding as which one to opt, Fuloos is one of the very few projects that has adopted a hydro scrypt (PoW+PoS), initially the algorithms will be run on PoW however as adoption will pave its way, PoS will come into play too thus giving the project a concept of hydro-scrypt.
Not only Sharding- Three-level Sharding
Another exciting part of the project is its three-layered sharding, while the name has been talk of town, very few projects are actually tapping into the bandwagon to make most use of it, Fuloos is one of them. By using three-layer sharding, Fuloos promises security at three levels; first at the sharding level, second at validating blocks and lastly at the time of confirmation of each transaction.
How to get Fuloos…?
The coin is currently available at stock.exchange and as per management guidelines, it is in process of getting listed on other exchanges soon.
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