The FlowchainCoin- Part 1 (Token Metrics)
Today let’s peep into the concepts of FLC (FlowchainCoin) and what exactly it is. The intelligent data on the IoT Network is enabled by the tokenized hardware technology to convert it into valuable digital assets. The digital assets are called FlowchainCoin (FLC). Being a digital asset of Flowchian, FLC ensures the correctness and security of data utilizing tokenized IoT hardware. Also, the digital assets can be transferred securely and swiftly without the involvement of any third party.
The above is given the basic configuration of FLC. FLC can be transferred to other individuals or entities freely. As a forward purchase of Flowchain products and services, FLC is considered as a Utility token.
Token Distribution- Token Metrics :
The Ethereum Distribution Layer technology is used to distribute most of the FLC tokens; this is because Flowchian encourages the community to support the network by participating in the activities of the Flowchain network. The public mining mechanism is adopted by the distribution layer to reward the mining nodes. The following FLC token metrics table shows the FLC token distribution metrics.
Until to date, the Flowchain project does not have ICOs. Now, let’s see the distribution layer of the token in public mining.
Token Distribution Layer- Public Mining :
FLC can tokenize hardware to enable digital assets exchange without any central party. That means the FLC token is like a hardware crypto token, which ensures the data privacy and data security by utilizing Flowchain OS and PPKI in the Flowchain network. Therefore, to maintain the efficiency of the blockchain network, the participation of public miners is essential. As an incentive, FLC can be distributed as block rewards for the mining nodes. Next, I am going to introduce the three types of miners on Flowchain’s public blockchain.
Hybrid Node Miner :
The edge node miners are considered to join the Flowchain mining pool in the Flowchain network and are considered to contribute network bandwidth to broadcast puzzles to IoT devices.
IPFS Node Miner :
The IPFS miners in the Flowchain network are required to join the Flowchian mining pool as well and contribute their storage to deploy Flowchain Dapps and store the Dapp data. The Flowchain Dapp integrates the Flowchian and IPFS DAG distributed technology, and this is responsible for storing the data that is streaming in the IPFS network and validating the transactions of the streaming data. The Flowchian network with IPFS nodes can process the live video streams. Flowchian Testnet is used for testing the integration of Flowchian/IPFS.
AI Node Miner :
In the Flowchain network, also the AI node miners are required to join the Flowchian mining pool and contribute their GPU compute power to execute Flowchian Dapps. The users can lease their excess free storage space and excess computing power through the Flowchain network and get FLC as block rewards; this is from the perspective of block rewards.
To sum up, AI node miners, Hybrid node miners and IPFS node miners that contribute resources on Flowchian Network can receive their block rewards. I hope you would find this article to be clear about Flowchain’s Token distribution layer-public mining.
29–10–2019
