Welcome to the official Medium blog of FCH Network!
FCH Network is an open business-oriented ecosystem based on the open permission-less public FCH blockchain. FCH ecosystem initially features several vertical stacks of business-oriented solutions for entrepreneurs and corporations alike, addressing typical challenges businesses face, including user onboarding and retention, digital asset issuance and listing, decentralized atomic swaps, cross-chain atomic swaps, blockchain-based Identity Management solution power by Good Digital Identity, Security asset support and much more.
FCH Network ecosystem is an open business alliance of traditional companies, enterprises and crypto companies alike built on top of FCH blockchain and powered by FCH staking infrastructure and its native crypto-coin, Fuchsia Coin. FCH Network Alliance initially launched by Signkeys and Aerum as founding partners, contributing their respective technologies, knowledge and finance to get it going. The Alliance already has a waiting list of new members to join. We believe it will soon start growing exponentially.
FCH blockchain operates on two networks simultaneously: staking on Ethereum, featuring full on-chain smart contract-based governance system, and native FCH network, operated by the consensus mechanism ATMOS 2.0.
There are also two digital assets that are used in FCH Network:
· XF token — a staking asset, allowing to secure the network and give Validators voting power for the governance processes
· Fuchsia Coin — a payment asset native to FCH Network that is produced through the block reward (mining) process
XF is an ERC-20 Ethereum-based token serving as a staking asset for FCH Network cross-chain Proof-of-Stake consensus algorithm. It serves as a security bond for Delegates and Masternodes and as a community staking asset supporting Delegates and increasing their voting power and probability of being selected as a block Validator.
FCH Network consensus operates in a cross-chain environment allowing to bond and stake value in FCH smart-contracts on Ethereum to secure FCH Network high-performance blockchain. This unique approach allows to provide a great security by nearly eliminating a possibility of 51% attack, Sybil-attack and selfish mining.
FCH Network is a Proof-of-Stake system allowing for both Delegated staking and Direct staking via Masternodes.
Delegates are required to commit 100,000,000 XF tokens as a security bond, which is only possible to withdraw when the Delegate terminates its account. Delegates also need to pass KYC check and create their Blockchain Identity using any Attestor the network have approved. This is a decentralized approach allowing self-governing policy-making. Any user may stake a Delegate with their XF tokens. There is no minimum and maxim amount of tokens that can be staked. Delegates, similar to mining pool in other network, will distribute Fuchsia coin rewards among their stakers using their own distribution policies.
Masternodes are similar to Delegates, but require a minimum bond of only 10,000,000 XF token to operate, no KYC needs to be done (only self-sovereign Blockchain Identity to be created). However, they cannot be staked by any third party. Masternodes only operate with their bonded tokens as their weight in the system
Masternodes and Delegates are required to run full nodes and are being selected by a probabilistic algorithm to be a part of signing committee for a period of 100 blocks. They receive block rewards for blocks successfully validated and secured. This process is similar to mining but without the need to use a specialized mining hardware. Network is secured by bonded and staked XF token, not by brute-force hash-rate computations as in Bitcoin.
Fuchsia Coin is a native payment asset of FCH Blockchain and is used for paying transaction fees, Identity check fees, wallet guarantee fees, token issuance and listing fees and for many other services offered by partners joining the FCH Network Alliance.
Both XF Token and Fuchsia Coin assets will be listed on exchanges with the first exchange coming up by the April 1st 2020. FCH Network commits to only cooperate with top-tier exchanges and ensure fair liquidity and wide distribution of the listed assets.
FCH Network will be gradually releasing features such as:
- Reward Gamification in FCH App
- Co-located Tokenized Masternodes (SaaS)
- Fractionalized Virtual Masternodes (Saas)
- Co-located Delegate (Saas)
We will release our Roadmap in coming days. Stay tuned and visit our website at https://fch.network/
Subscribe and download Signkeys Pro application, a full-featured wallet app for Android and iOS, where you can stake your XF tokens and participate in various reward programs.
Don’t forget to visit https://fch.network and sign-up.
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And finally, a cherry on the pie, our POWERFUL TELEGRAM COMMUNITY at https://t.me/fch_english is waiting for you. A lot of expert tips are shared there daily by our activist community members. Don’t wait, join now!