overview of Faircoin-net
description::
Faircoin-network-(Faircoin-net) is a-blockchain-network which uses the-proof-of-cooperation-algorithm as consensus-algorithm.
[hmnSngo.2018-10-24]
===
"Faircoin, the Faircoop ecosystem cryptocurrency
FairCoin is the monetary base system for FairCoop.
The key purposes of FairCoin is to be used as a tool for economic redistribution, increasing justice, the empowerment of grassroots groups, the transformation of social and economic relations and the creation of commons."
[https://fair.coop/faircoin/]
name::
* McsEngl.McsTchInf000022.last.html//dirTchInf//dirMcs!⇒Faircoin-net,
* McsEngl.dirMcs/dirTchInf/McsTchInf000022.last.html!⇒Faircoin-net,
* McsEngl.blockchain-net.Faircoin!⇒Faircoin-net,
* McsEngl.FairCoin-network!⇒Faircoin-net,
* McsEngl.Faircoin-network!⇒Faircoin-net,
* McsEngl.Faircoin-net, {2019-02-24},
* McsEngl.Đb-net.Faircoin!⇒Faircoin-net,
protocol of Faircoin-net
name::
* McsEngl.Faircoin-net'protocol,
* McsEngl.protocol-of-Faircoin-net,
generic-tree::
* blockchain-protocol,
FairCoin white-paper
name::
* McsEngl.Faircoin-net'white-paper,
* McsEngl.white-paper--of--Faircoin-network,
generic-tree::
* blockchain-white-paper,
addressWpg::
* https://fair-coin.org/en/white-paper,
* FairCoin2 v1.2 {2018-07}: https://fair-coin.org/sites/default/files/FairCoin2_whitepaper_V1.2.pdf,
* FairCoin2 v1.1 {2016-06}: https://fair-coin.org/en/node/173,
* FairCoin2 draft {2015-05}: https://chain.fair-coin.org/download/FairCoin2-Draft.pdf,
FairCoin2 white-paper 1.2 {2018-07}
name::
* McsEngl.Faircoin-net'white-paper-2-1.2,
addressWpg::
* https://fair-coin.org/sites/default/files/FairCoin2_whitepaper_V1.2.pdf,
The Proof-of-Cooperation Blockchain FairCoin
Thomas König, Enric Duran, Niklas Fessler, Roland Alton
tom@fair-coin.org, enric@fair-coin.org, niklas.fessler@gmaIl.com, roland@alton.at
White paper version 1.2 (July 2018)
Abstract
FairCoin facilitates a next generation approach for creating blocks in a blockchain.
Blocks are created in cooperation, by so called "co-operatively validated nodes" (CVNs).
The proof-of-cooperation (PoC) power consumption is negligible compared to mining and minting found in other blockchain mechanisms.
To avoid spam in the blockchain and cover operation expenses, the creator of a block earns a very low transaction fee.
Operational parameters such as the fee can be adjusted dynamically by chain admins in accordance with a consensus based assembly decision.
The FairCoop community has built several tools and a market to foster a fair global economy with FairCoin.
¶
1 Introduction
FairCoin has several faces.
First of all, FairCoin is an implementation of an innovative and ecological blockchain mechanism based on the proof-of-cooperation algorithm.
Secondly, by using FairCoin in various projects and markets, we created an asset to transfer value.
Thirdly, FairCoin is a tool for the FairCoop[ 1 ] community to support a cooperative economy around the globe.
In this paper, we will be focusing on the first aspect and will be explaining the technology and the governance model.
FairCoin 1, which was used from 2014 until mid 2017 relied on mining and minting to secure the blockchain.
Both mechanisms are widely used, but consume a lot of energy and advantage the rich and thus can not be considered as fair.
Therefore, the whole blockchain was refurbished for version 2 to make it a fair, secure, resources-saving and decentralized block chain-based asset.
It is based on cooperation between nodes and not on competition, which provides a much better efficiency.
FairCoin v2 is a fork of the Bitcoin Core version 0.12[ 2 ] with heavy modifications.
2 Economic Aspects
Whilst FIAT money supply is controlled and flooded by central banks[ 3 ] and is being created out of thin air by banks when providing credit[ 4 ], and whilst most cryptocurrencies' number of coin grow with mining rewards, FairCoin does not create any new coins[ 5 ].
CVN's do not need to create new coins in order to provide security to transactions.
Instead, FairCoin will help to create the conditions for existing coins to be redistributed to amazing social projects worldwide, thanks to funds like Global South Fund, Commons Fund, Technological Infrastructure Fund and Refugees Fund.
By fixing the supply, FairCoin becomes stronger at the level of store of value for the solidarity economy, cooperatives and regional initiatives.
Through the FairCoin block chain - besides being a currency in itself - FairCoin will be a perfectly adapted platform to be used also by social currencies worldwide with no obligation to abandon their own principles.
With support of the FairCoop community, FairCoin users find an environment of synergies at multiple levels, which will allow them to advance their goals more rapidly.
The FairCoop Circular Economy Group facilitates the use of P2P technologies[ 6 ], which will facilitate its daily use and its interoperability with other currencies and payment systems.
This in turn, may form a part of a growing plural ecosystem consisting of a number of currencies and cooperative initiatives, eventually becoming capable of challenging the incumbent system.
Hence, we see the FairCoin blockchain also as a generic tool for managing the common good.
3 Node Network
The blockchain network consists of full nodes and cooperatively validated nodes (CVN).
All nodes secure the network by validating all the transactions in the network and put them into a transaction block chain.
Blocks are created in a round-robin manner every three minutes[ 7 ] by one of the CVN's.
A CVN is a standard FairCoin core client, verified in the network by FairCoop.
Every node is unique.
3.1 CVN Requirements
For the FairCoin main blockchain the operation of CVNs is decentralized.
CVN operators are only known by their nicknames in chat groups.
Candidates for running a CVN need to follow a combined p2p-consenus certification procedure.
First of all, the candidate has to prove active involvement in the FairCoop community.
Tasks like supporting a local node or contributing to a technical, management or communication issue is being reported by the candidate in a FairCoop assembly and needs to be confirmed by at least two active members of the community.
This is to ensure an alignment with cooperative values and hacker ethics.
The open FairCoop chat assembly[ 8 ] then accepts the application by consensus.
Furthermore, a CVN operator has to fulfil technical requirements[ 9 ]:
1. The system must be connected to the internet and the TCP port 40404 must be reachable by all remote nodes from the internet at any time.
2. The system must use a public NTP server[ 10 ] to synchronise its system time to.
3. The CVN and routers must be available 24/7 and ideally backed up with a UPS[ 11 ]
4. Monitor the CVN availability[ 12 ]
3.2 FASITO Hardware Device
To achieve maximum security for the FairCoin network the private key of a CVN, that is required to create and sign blocks, is generated in a hardware device which we call FASITO[ 13 ].
The device is able to create EC-Schnorr (4.2) partial signatures.
It is based on the Teensy3.2 USB development board[ 14 ] which features a 32 bit ARM processor and memory protection.
It is secured by a six numbers pin code.
After three invalid tries the card is locked and must be returned to the FairCoin development team to unlock.
4 The Proof-of-Cooperation Mechanism
Proof-of-Cooperation (PoC) is a consensus algorithm developed by Thomas König[ 15 ].
Every node must obey the same set of rules to maintain the networks integrity and security.
All connected clients have the same data available to verify the state of the network.
The FairCoin blockchain requires a limited number[ 16 ] of called cooperatively validated nodes collaborating with each other to create new blocks in a secure network.
To assure the integrity of the CVNs, they are authorized by a social p2p-consensus mechanism.
All CVNs of FairCoin are authorized by the FairCoop general assembly collaboratively, whereas chain admins execute decisions.
Candidates for operators of CVN need to apply and go through a peer process, however their real identities is not known.
The private key is stored on a small device, called FASITO (3.2).
Its important, that the private key is non-retrievable.
This ensures the integrity and confidentiality of the exchanged information.
Dynamic blockchain values are stored in each block.
4.1 Creating and Proofing Blocks
Every CVN takes part in an iterative consensus process by signing pieces of data to confirm its approval.
Let's put ourselves into the shoes of a CVN and accompany it for 2 blocks.
We start at the moment when we've just received a new block from some other CVN.
1. We start searching backwards through the chain to find out which CVN has created its last block the furthest in the past.
Once we've identified that node, we check if it was recently actively collaborating in the network by trying to find the signatures of that node in the last couple of blocks.
If the node was active, then this CVN will be chosen as the next block creator.
2. Now that we know who should create the next block we have everything together to start collaborating.
We do this by signing a specific piece of information which contains the following with the EC-Schnorr algorithm for best efficiency:
• the hash of the last block that we checked to approve that we agree on that parent block
• the ID of the CVN who should create the next block
• and finally our own CVN ID to confirm that we signed the block
3. We send our signature out to the network, so everybody knows our opinion about how the chain should continue.
4. Well, good job so far.
Let's check now if it is already time to create the next block.
For this purpose we look up the current block spacing in the dynamic chain parameters data.
We see, it's 3 minutes.
So we have to wait until this time has passed.
In the meantime we are busy collecting all the signatures of the other CVNs.
5. OK, block spacing time is over, so we check again which CVN should proceed.
And it happens to be our turn, great!
6. But before we go on we need to check if we have at least 50% of the number of signatures of the last block.
Suppose the last block had 17 and we received 18 - so one of the CVNs just came back online, awesome!
We have more than enough.
7. We create a new, fresh block containing all the pending transactions.
The signatures we collected earlier that approve that we are the next in the line also go into the block.
The more matching signatures we have the more likely our block will be accepted by the network.
Usually we should get 100% of all the signatures but if there was a network outage we'd be missing some.
8. After the new block has passed all consensus checks we send it out to all other nodes.
That's it!
We helped to advance the FairCoin block chain.
Although this iteration looks like a simple round-robin-system, we are facing some complexity when handling exceptional cases.
E.g. a CVN could go offline at any time, or a split-brain situation could occur in the network.
4.2 Efficient EC-Schnorr Signing of Blocks
The security of this algorithm is based on the intractability of certain discrete logarithm problems.
The private key is generated on the FASITO hardware device (see below) and is non-retrievable.
This is mostly for two reasons:
• Prevent accidentally or maliciously starting more than one CVN with the same credentials which would interfere with the network.
• Prevent key cancellation attacks.
The EC-Schnorr multi-signature system is processed in 3 phases:
1. All CVNs use a random nonce pair, exchange the public part to every other CVN, and keep the private part secret on the FASITO.
2. All CVNs combine the public nonce of all other CVNs and create their partial signature for the current chain tip.
3. The agreed block creator combines all partial signatures into one and puts it into the block.
4.2.1 1st Phase: The nonce exchange
Because this multi-step signature system is rather complex and has to happen in the time between the creation of two blocks, and also requires CVNs to send numerous messages back and forth, they pre-compute a number of nonce pairs into a nonce pool and share that with all other CVNs.
This approach decouples the first phase from a time-sensitive process and thus makes our PoC mechanism more robust.
Every nonce pool is associated with a chain tip and one nonce is used up per block height.
If the pool is empty a new one is created and sent.
This is done right after a new tip has been received.
4.2.2 2nd Phase: The partial signature
By using the nonce pool, CVNs can create their partial signature right away after they have received a new block and don't have to wait for the public nonces to arrive.
They first combine the public nonces of all other nodes for a given height and then use this sum of nonces and their private key to sign the following hash.
hash = H ( hashPrevBlock || nNextCreator )
4.2.3 3rd Phase: Combining the signatures
The block creator validates and combines all the received partial signatures into one 64 byte EC-Schnorr signature which is verifiable against the signed hash and the sum of all public keys of the participating CVNs.
This makes PoC validation very efficient because even if fifty CVNs co-signed the proof only one signature (64 bytes) needs to be stored and verified in the blockchain.
5 The FairCoin Blockchain
The PoC mechanism is being used with the FairCoin blockchain, which is mainly used for storing and transferring assets.
Certain chain parameters, e.g. the time between blocks, the amount of the transaction fee, etc. are dynamically adjustable without the need of releasing a new wallet version.
Chain administrators may co-sign new instruction data to fine-tune blockchain parameters[ 17 ].
These administrators execute what is being decided in the FairCoop assembly, where they are also appointed.
For new instructions to be accepted by the network, these instructions must be signed by a defined minimum number of representatives[ 18 ].
This number is dynamic and stored in the block chain and can be changed, as decided in the assembly.
5.1 Payload
FairCoin blocks can hold different types of payload.
They all serve a certain purpose.
Most other crypto currencies only know one payload type: transactions.
The following types of payload can be integrated into a FairCoin block:
• Transactions
• CVN information data
• Dynamic block chain parameters
• Block chain administrators
• Coin supply instruction data
5.2 The coin supply
The coin supply is fixed and cannot be increased in FairCoin.
But if FairCoin is forked to create a new blockchain based on the FairCoin source code there is an option to increase the coin supply.
Please note that this feature is not used in the main FairCoin blockchain.
It is disabled at compile time by default.
So the next paragraph applies to forks of FairCoin only:
If it is decided to increase the coin supply all of the chain administrators have to sign the coin supply instruction data which is then injected into the network via the wallets RPC interface.
This data instructs the CVN which creates the next block to include a second output in the coinbase transaction with the specified amount of coins to the defined address.
Coins can also be burned by creating an OP_RETURN transaction.
5.3 Parameters of Blockchain
To add or remove CVNs and chain administrators or update the dynamic chain parameters at least the currently defined minimum number of chain administrators have to sign the corresponding command which is then injected into the network via the wallets RPC interface.
We would like to note, that those adjustments are not crucial for the PoC mechanism to continue, but it may run more sleek without the need to change the node software, especially if the number of transactions grows in future.
6 Conclusion
FairCoin is a socio-technical sculpture which has been implementing various innovations, both on social and technical levels.
After one year of smooth operations[ 19 ], the PoC blockchain mechanism has proven to work in managing funds and for day-to-day transactions.
Based on requirements of the FairCoop community additional features will be implemented in the near future or are already available as prototypes on the FairCoin testnet[ 20 ].
6.1 Application areas
FairCoin is the monetary base system for FairCoop - The Earth Cooperative for a Fair Economy.
FairCoop is a community to transfer knowledge and develop tools that enable everybody to participate in a fair global economy.
FairCoin plays a central role within the FairCoop ecosystem with online markets and point of exchanges and sales in more than 50 local nodes worldwide[ 21 ].
6.2 Micro payments
The high efficiency of the FairCoin network, trusted node relations, low energy cost and consequently low fees, nominates FairCoin as a candidate for micro payments.
Usage scenarios are the gift economy, currency substitute in the global south or online remuneration systems.
6.3 Distributed sub chains and multi-currency
FairChains allows to create a token within the FairCoin main chain and runs alongside it.
Smart contract rules expressed as OmniLayer functions provide a way to create chains with new properties.
Such a sub-chain could implement a local currency based on a local network of nodes of the same region or city, or a thematic currency based on the same principles or a registry of commons goods.
A smart contract could also define credit relations among several partners or put options when exchanging virtual currencies to FIAT money.
6.4 Restraining Volatility
FairCoin is not made for speculators, but for participants on markets to trade real goods and services.
An official exchange value is being set in public assemblies[ 22 ].
To escape pump and dump games, the FairCoin community is usually rejecting listings on big exchanges, such as Bittrex[ 23 ].
Fiat money from FairCoin sales is being used to stabilise the value by buying FairCoins from people outside the FairCoop ecosystem.
Various concepts for stabilizing the FairCoin currency are being discussed[ 24 ].
7 Sources
7.1 Open Source Code
• FairCoin node https://github.com/faircoin/faircoin.git
• FairCoin wallets: http://download.faircoin.world/
• FASITO https://github.com/faircoin/Fasito.git
7.2 Homepage
• FairCoin homepage with comparisons and FAQs: https://fair-coin.org
• FairCoin proof-of-cooperation mechanism https://github.com/faircoin/faircoin/blob/master/doc/on-proof-of-cooperation.md
7.3 Changelog
This white paper version 1.2 is based on version 1.1 (June 2016) with an extended description of PoC and economic aspects, explaining Schnorr and chain admin roles, added more references, replaced logo, two additional authors.
notes
[1] https://fair.coop
[2] https://bitcoin.org/en/bitcoin-core
[3] https://policyexchange.org.uk/an-overdue-political-debate-monetary-policy-and-the-role-of-centralbanks/
[4] This is a controversial issue, as banks say they have the debt in their books.
Fact is, that they can issue much more credit then they have from savings, see e.g. https://www.youtube.com/watch?v=SA9UkHhFU6g
[5] The circulating supply has been frozen at 53.193.831 FairCoins when migrating from FairCoin 1 to FaoirCoin 2.
[6] https://p2pfoundation.net/infrastructure/our-guiding-principles
[7] The 180 seconds block time is an adjustable parameter.
[8] Since 2016 scheduled every 3rd Thursday of the month at 7 p.m. CET on Telegram and mirrored to https://fairchat.net/channel/faircoop-assemblies.
Any frequency or date change would be agreed in the assembly and announced on various channels.
[9] For a detailed requirements list see https://github.com/faircoin/faircoin/blob/master/doc/CVN-operators-guide.md
[10] e.g. pool.ntp.org
[11] Uninterruptable Power Supply, recommended for areas with unreliable electricity supply
[12] After one year of operations of the FairCoin PoC blockchain we can see that an 98% average uptime among 19 CVNs is absolutely sufficient to keep the network running smooth.
Source of data: https://chain.fair.to/cvnstats
[13] FAircoin SIgnature TOken
[14] https://www.pjrc.com/teensy/
[15] Dornbirn, Austria in 2017
[16] Maximum allowed CVNs: 100, mid term target is 30-50, active operating CVNs see https://chain.fair.to/activecvns
[17] For details see the chain administrator's guide https://github.com/faircoin/faircoin/wiki/Chain-administrators-guide
[18] 5 out of 8 chain admins have to co-sign within a block period (currently 180 seconds)
[19] All balances from the PoW/PoS FairCoin 1 to the new PoC FairCoin 2 blockchain have been transferred on 18th of July 2017.
[20] Any FairCoin node can be configured to work on the FairCoin testnet blockchain.
[21] as of July 2018, 55 local nodes are listed on https://map.fairplayground.info/map-localnodes/
[22] https://fair-coin.org/en/create-value
[23] https://fair-coin.org/en/bittrex-delisting
[24] Stability discussion in chat https://fairchat.net/channel/faircoin-economystrategies?msg=uXs3eDYu9kbP89NGv and pad https://board.net/p/r.1823fb01c762e7d402ae580993375548 as of July 2018
FairCoin2 white-paper draft {2015-05}
name::
* McsEngl.Faircoin-net'white-paper-2-draft,
* McsEngl.white-paper-2-draft--of--Faircoin-network,
addressWpg::
* https://chain.fair-coin.org/download/FairCoin2-Draft.pdf,
FairCoin V2 white paper
DRAFT
Document version 1.0
Thomas König, May 2015
tom@fair-coin.org
FairCoin is the monetary base system for FairCoop The Earth Cooperative for a Fair Economy (see https://fair.coop).
In FairCoop we develop tools and transfer knowledge that enable everybody to participate in a fair global economy.
The existing version of the FairCoin wallet relies on mining and minting technology to secure the block chain.
The problem is that neither mining nor minting can truly be considered fair, because both confer an advantage on the already rich.
Therefore we decided to create a new version of FairCoin which corrects these issues.
With FairCoin2 (in short FC2) we can create block chain-based software that is fair, secure and power-saving.
It is based on cooperation and not on competition.
It is built on the code-base of a recent version of the Bitcoin core client.
This enables us to benefit from the latest developments made by the dedicated Bitcoin developers.
Also the comprehensive infrastructure that already exists around Bitcoin can be adopted for FairCoin with minimal effort.
This document describes the design concepts we have implemented in FairCoin2.
Some knowledge about how Bitcoin works is required to fully understand the contents of this document.
The first paragraphs provide a rather high-level view of the FC2 concept and the further you read the more technical and detailed it becomes.
1 Overview
In contrast to other cryptocurrencies FC2 does not implement any mining or minting (aka. staking) functionality, which are both competitive systems.
Block generation is instead performed by so-called certified validation nodes (in short CVN).
These nodes cooperate to secure the network.
To run a CVN one needs to complete a certification procedure which is called node certification procedure (in short NCP) that is operated by FairCoop (https://fair.coop/node-certificationprocedure/).
The requirements to operate such a node are described in chapter 3.1.
Please note that definition of the NCP is out of the scope of this document and will be defined in a separate document.
In the long run the NCP should be powered by a reputation system.
There is no reward for block creation (no coinbase/stake transaction).
Therefore the money supply does not change over time and is fixed at the time we migrate to FC2.
Nevertheless, the transaction fees go to the respective block creators to compensate their efforts for running a CVN.
Certain chain parameters, e.g. the transaction fee will be dynamically adjustable (without the need of releasing a new wallet version) by democratic community consensus.
The FairCoin team needs the approval (digital signatures) of a high percentage of all the active CVN.
2 Block generation
Block generation takes place in a collaborative way.
All CVN work together to bundle pending transactions into transaction blocks.
These blocks can only be created by CVN every 3 minutes.
Which CVN will generate the next block is determined by its time-weight.
The time-weight describes how much time has passed since a CVN created its last block.
If for example CVN A created a block 50 blocks ago and CVN B created it 55 blocks ago CVN B will be chosen to create the next block in the network.
There can always only be exactly one CVN with the highest timeweight.
If a new CVN joins the network for the first time it will be elected to create the next block.
Between two blocks only one new CVN can join in.
Block generation is performed in 3 phases.
New transactions are accepted during all these phases.
2.1 Transaction accumulation phase
In this phase all nodes relay transactions they receive from other nodes to any node they are currently connected to.
This phase lasts at least 170 sec.
If there are no pending transactions in the network it takes as long as the next transaction hits the network.
In other words, this phase only ends when there is at least 1 pending transaction in the network.
2.2 Time-weight announcement phase
In this phase each CVN determines its own time-weight based on the local block chain information and announces it to all other connected nodes.
Announcement messages are relayed by all nodes just like transactions.
The higher the nodes time-weight the sooner the announce message is sent to the network according to the following simple formula:
delay=10-(10*otw/tn)
Where:
delay is the time in seconds to wait before a CVN sends its own time-weight
otw is the CVN calculated own time-weight
tn is the total number of active nodes
10 is the constant of ten seconds, which is the duration of this phase
This will greatly reduce the amount of announcement packets sent over the network because if a CVN receives and correctly validates a time-weight announcement message from an other node with a higher time-weight it will not send its weight to the network.
Every CVN verifies that each time-weight announcement it receive is correct using the local block chain data (bogus announcements are discarded and a DoS ban score of 50 is proposed).
Time-weight announcements are used to determine the node with the highest time weight that is currently connected to the network.
This phase starts 10 sec. before the actual block target time.
2.3 Block creator election phase
This phase starts right after the Time-weight announcement phase.
Every CVN determines the CVN with the greatest time-weight according to the announcements it received.
It then signs and sends their candidate vote message to the network, which is relayed by every node just like transactions.
This phase has no defined length.
It stops once the elected CVN has received enough vote messages for its own id from over 90% of all active nodes.
This is the point in time when the collaboratively-elected CVN finally creates the next block in the chain containing all pending transactions from the so called “rawmempool”.
Also parts of the signed vote messages are incorporated into the block to prove that optimally 100% but at least 90% of all active connected nodes agreed on the elected CVN.
3 Certified validation nodes (CVN)
The aim of the CVNs is to secure the network by validating all the transactions that had been sent to the network and put them into a transaction block chain.
Blocks are created each 3 minutes (180 sec.).
Transactions are confirmed after they have been added to a block.
If there are no pending transactions no further blocks are created, which will not happen anymore after FairCoin has been widely adopted.
A CVN is a standard FairCoin core client configured with additional information namely certification data issued by FairCoop which “upgrades” it to a CVN.
Every node will be assigned a unique id.
3.1 Requirements for running a CVN:
Every entity running a CVN must agree upon the following technical requirements and must carry the responsibility to full fill these rules.
1. The system must be connected to the Internet all the time (24/7) and the TCP port 46392 must be reachable by all remote nodes from the Internet
2. The system must use a public NTP server to synchronize its system time to, preferably pool.ntp.org to ensure that the system time is always correct
3. The entity must have an account at the FairCoop web site
4. The wallet software must be configured with certification data issued by FairCoop
Further requirements might be defined after public discussion.
But this will be subject to the NCP document.
4 Node certification
But why would we need certification at all?
A decent certification procedure ensures that a high percentage of all CVNs are honest creator nodes.
At the moment the author sees no easy way of ensuring that each node has only one identity without a well established reputation system.
If every node was a creator node a skilled attacker could modify the client software in such a way to create thousands of different identities and could then perform numerous different attacks against the network.
5 Transaction fees
The transaction fees go to the node which created the block.
Transaction fees exist to avoid block chain spam and give block creators a small reward for taking the effort to leave their node running and pass through the certification procedure.
Fees should be dynamically adjustable to satisfy any change in the value of FairCoin.
node of Faircoin-net
description::
"in FairCoin any wallet or CVN is a node"
[https://fair-coin.org/en/faircoin-faqs]
===
"The blockchain network consists of full nodes and cooperatively validated nodes (CVN)."
[#idFairnetwpr218073P1]
name::
* McsEngl.Faircoin-net'node,
* McsEngl.node-of-Faircoin-net,
generic-tree::
* blockchain-node,
Faircoin-node.CVN
description::
"In contrast to other cryptocurrencies FC2 does not implement any mining or minting (aka. staking) functionality, which are both competitive systems.
Block generation is instead performed by so-called certified validation nodes (in short CVN).
These nodes cooperate to secure the network."
[#idFairnetwpr2drft1P1]
===
"A CVN is a standard FairCoin core client configured with additional information namely certification data issued by FairCoop which “upgrades” it to a CVN.
Every node will be assigned a unique id."
[#idFairnetwpr2drft3P2]
name::
* McsEngl.Faircoin-net'block-creation-node,
* McsEngl.Faircoin-net'CVN,
* McsEngl.Faircoin-node.certified-validation-node,
* McsEngl.Faircoin-node.collaboratively-validated-node,
* McsEngl.Faircoin-node.CVN,
hardware of CVN
description::
"CVNs can be run on a Raspberry3 which consumes only a couple of watts and does not waste energy or computing resources."
[https://fair-coin.org/en/fairchains]
name::
* McsEngl.Faircoin-net'CVN'hardware,
FASITO of CVN
description::
"To achieve maximum security for the FairCoin network the private key of a CVN, that is required to create and sign blocks, is generated in a hardware device which we call FASITO[ 13 ].
The device is able to create EC-Schnorr (4.2) partial signatures.
It is based on the Teensy3.2 USB development board[ 14 ] which features a 32 bit ARM processor and memory protection.
It is secured by a six numbers pin code.
After three invalid tries the card is locked and must be returned to the FairCoin development team to unlock."
[#idFairnetwpr2180732P1]
name::
* McsEngl.Faircoin-net'FAircoin-SIgnature-TOken,
* McsEngl.Faircoin-net'FASITO,
ID of CVN
name::
* McsEngl.Faircoin-net'CVN'ID,
private-key of CVN
description::
"To achieve maximum security for the FairCoin network the private key of a CVN, that is required to create and sign blocks, is generated in a hardware device which we call FASITO[ 13 ]."
[#idFairnetwpr2180732P1]
name::
* McsEngl.Faircoin-net'CVN'private-key,
info-resource of CVN
name::
* McsEngl.Faircoin-net'CVN'resource,
addressWpg::
* guide: https://github.com/faircoin/faircoin/blob/master/doc/CVN-operators-guide.md,
* active: https://chain.fair.to/activecvns,
CVN.AGGREGATE
description::
"Maximum allowed CVNs: 100, mid term target is 30-50, active operating CVNs see https://chain.fair.to/activecvns"
[#idFairnetwpr21807nt16]
name::
* McsEngl.Faircoin-net'CVN.aggregate,
CVN.ACTIVE
name::
* McsEngl.Faircoin-net'CVN.active,
blockchain of Faircoin-net
name::
* McsEngl.Faircoin-net'blockchain,
generic-tree::
* blockchain,
block of Faircoin-blockchain
name::
* McsEngl.Fain-net'block,
generic-tree::
* blockchain-block,
payload of Faircoin-block
description::
"FairCoin blocks can hold different types of payload.
They all serve a certain purpose.
Most other crypto currencies only know one payload type: transactions.
The following types of payload can be integrated into a FairCoin block:
• Transactions
• CVN information data
• Dynamic block chain parameters
• Block chain administrators
• Coin supply instruction data"
[#idFairnetwpr218075P2]
name::
* McsEngl.Faircoin-net'block'payload,
generic-tree::
* Bitcoin-block-payload,
dynamic-blockchain-value of Faircoin-block
description::
"Dynamic blockchain values are stored in each block."
[#idFairnetwpr218074P1]
name::
* McsEngl.Faircoin-net'block'dynamic-blockchain-value,
specific::
* amount of transaction fee,
* time between blocks,
time-between-blocks of Faircoin-block
description::
"Blocks are created in a round-robin manner every three minutes[ 7 ] by one of the CVN's."
[#idFairnetwpr218073P1]
name::
* McsEngl.Fain-net'block'interval,
* McsEngl.Fain-net'block-period,
* McsEngl.Fain-net'block-spacing,
* McsEngl.Fain-net'time-between-blocks,
generic-tree::
* blockchain-block-interval,
proof-of-cooperation of Faircoin-blockchain
description::
"A CVN gets its 'permission' to generate a block from all other CVNs in that they sign a piece of data that contains its CVN ID (=chain signature). This is the actual proof of cooperation. After it creates its block it then signs that block to proof that indeed the respective CVN created that block. That is the purpose of the block signature."
[https://fair-coin.org/en/faircoin-faqs]
===
"Proof-of-cooperation (in short PoC) is implemented in FairCoin2[2], which is a fork of the Bitcoin 0.12 branch.
All mining related code has been removed and replaced by PoC code.
Block generation is performed by so-called Cooperatively Validated Nodes (CVNs).
CVNs are appointed in a democratic process which is out of the scope of this technical document.
CVNs can be added or removed from the network dynamically.
CVN information is stored in the blockchain.
The mandatory transaction fees go to the respective block creators to compensate their efforts for running a CVN.
Certain chain parameters, e.g. the time between blocks, the amount of the transaction fee, etc. are dynamically adjustable without the need of releasing a new wallet version.
These dynamic chain parameters are also stored in the blockchain.
The appointed FairCoin blockchain administrators (not the developers) take on the task of managing these parameters.
The FairCoin2 network is comprised of a virtually unlimited number of full nodes and a limited number of CVNs.
The maximum hard coded value is 100 but the actual target is 40-50 CVNs."
[https://github.com/faircoin/faircoin/blob/master/doc/on-proof-of-cooperation.md#overview]
name::
* McsEngl.blockchain-appending-algo.proof-of-cooperation,
* McsEngl.Faircoin-net'proof-of-cooperation,
* McsEngl.proof-of-cooperation,
addressWpg::
* https://github.com/faircoin/faircoin/blob/master/doc/on-proof-of-cooperation.md,
generic-tree::
* blockchain--consensus-algorithm,
FAIR-cryptocurrency of Faircoin-net
description::
FairCoin is the monetary base system for FairCoop. We constantly drive development of the FairCoop/FairCoin ecosystem further and shape the individual components to fit our vision: building tools to enable everyone to participate in a fair economy on a global scale.
We decided to create a new version of FairCoin which corrects issues we encountered. The current version of FairCoin relies on PoS (proof-of-stake) which cannot be considered fair, because it confer an advantage on the already rich. Therefore we needed to come up with a new way to secure the network. We call it PoC (proof-of-cooperation). This innovation will finally make FairCoin fair, secure, and sustainable.
The draft we present here is meant to start a discussion on what the new version would look like. Many hours of voluntary work have already been put into building the basic concept and the white paper. The focus of the draft paper is mainly on the technical and implementation side of the FairCoin2 project. Many more aspects besides the technical have to be taken into account and elaborated on.
So, here it is the first draft of the FairCoin V2.0 white paper. Enter the fair dimension of cryptocurrency and download the PDF file now.
[https://fair-coin.org/faircoin2.html]
===
FairCoin (FAIR)
$0.037195 (1.64%)
0.00003150 BTC (0.58%)
Rank 116
Currency
Market Cap: $1,972,825, 1,671 BTC
Volume (24h): $2,277, 1.93 BTC
Circulating Supply: 53,040,622 FAIR
[https://coinmarketcap.com/currencies/faircoin/] {time.2017-04-16},
name::
* McsEngl.chain-currency.FAIR,
* McsEngl.crypto-token.FAIR!⇒Faircoin-currency,
* McsEngl.FAIR-FairCoin!⇒Faircoin-currency,
* McsEngl.FC2-FairCoin2!⇒Faircoin-currency,
* McsEngl.Faircoin-net'FAIR!⇒Faircoin-currency,
* McsEngl.Faircoin-cryptocurrency!⇒Faircoin-currency,
* McsEngl.Faircoin-currency, {2019-02-24},
* McsEngl.Faircoin-token!⇒Faircoin-currency,
* McsEngl.FairCoin-FAIR!⇒Faircoin-currency,
* McsEngl.FairCoin2-FAIR!⇒Faircoin-currency,
generic-tree::
* blockchain-consensus-cryptocurrency,
distribution of FAIR (link)
exchange-rate of FAIR
description::
For more than two years, the official exchange rate was set at 1:20 (that is, 20 FairCoins per Euro). In 2017, it had to be corrected several times.
* A price correction to 1:15 due to high demand on markets since April 2017 has been put in effective from May 12 0:00 CEST 2017, decided by FairCoop economy strategy assembly May 11 (see blog post),
* Another correction to 1:10 has been decided in the FairCoop 22nd general assembly on June 15th, 2017,
* Due to the peak demand on June 20th, our getfaircoin site was put into 'maintenance mode' until we had a more clear view on the situation,
* On July 13th 2017, FairCoin users had another assembly meeting and decided for 1:5. (1 FAIR = 20 Eurocent),
* After the successful migration to the Proof-of-Cooperation blockchain and the high demand on markets due to the BitCoin forks on August 1st, we have again corrected the price in the assembly to 1:2 on August 10th 2017,
* After 4 weeks stable price on markets around 0,6, the FairCoin open assembly has agreed in September 14th, 2017 to set the exchange price to 60 Eurocent per FairCoin for getfaircoin and merchants,
* With the rallye of Bitcoin to 7000 we jumped over 1 USD and adapted the price of 1 FairCoin to 90 Eurocents, valid from Nov 3rd 2017,
* With the continuing demand we have set 1:1 in another assembly, valid from Dec 5th 2017,
* Due to growing acceptance, partnerships and demand official price adapted to € 1,20 in first assembly of 2018, valid from Jan 16th,
[https://fair-coin.org/en/create-value]
name::
* McsEngl.Faircoin-currency'exchange-rate,
* McsEngl.FAIR'exchange-rate,
generic-tree::
* chain-asset--exchange-rate,
addressWpg::
* {2016-04-29} MARO, https://2017.fair.coop/clearing-up-doubts-about-faircoin-how-is-the-price-determined/,
FAIR.AGGREGATE
description::
53,193,831 FAIR
[{2018-10-26} https://coinmarketcap.com/currencies/faircoin/]
===
"The coin supply is fixed and cannot be increased in FairCoin."
[#idFairnetwpr2180752P1]
===
"There is no reward for block creation (no coinbase/stake transaction).
Therefore the money supply does not change over time and is fixed at the time we migrate to FC2."
[#idFairnetwpr2drft1P2]
===
"Only about 10 percent of all FairCoins are in the open market without a direct relationship to FairCoop."
[https://fair-coin.org/en/create-value]
===
"FairCoop already holds 20% of all Faircoins in existence, which guarantees that the growth of the currency’s value will go to the common good. This is guaranteed by FairCoop’s democratic accountability system."
[https://2017.fair.coop/questions-and-answers-a-faircoop-faq/]
name::
* McsEngl.FAIR.aggregate,
* McsEngl.FAIR.supply,
* McsEngl.Faircoin-currency.supply,
statistics of Faircoin-net
name::
* McsEngl.Faircoin-net'statistics,
generic-tree::
* blockchain-statistics,
statistics.energy-consumption
description::
"The proof-of-cooperation (PoC) power consumption is negligible compared to mining and minting found in other blockchain mechanisms."
[#idFairnetwpr21807abst]
name::
* McsEngl.Faircoin-net'energy-consuption,
* McsEngl.Faircoin-statistics.energy-consuption,
generic-tree::
* blockchain-energy-consumption,
governance-system of Faircoin-net
name::
* McsEngl.Faircoin-net'governance-system,
generic-tree::
* blockchain-governance-system,
chain-admin
description::
"Any change needs to be based on a decision in a FairCoop General Assembly and is being executed by chain administrators with a multi-signature procedure."
[https://fair-coin.org/en/faircoin-faqs]
===
"Operational parameters such as the fee can be adjusted dynamically by chain admins in accordance with a consensus based assembly decision."
[#idFairnetwpr21807abst]
name::
* McsEngl.Faircoin-net'chain-admin,
power of chain-admin
description::
"Don't have the chain admins too much power?
No. The most harmful thing chain admins could do is trying to earn FairCoins by increasing the transaction fee for CVNs they control (the upper limit of this parameter is 0,2 FAIR per standard transaction). However, if it became known that more than five chain admins wanted to break out and not follow the decisions of the assembly, a new wallet could be issued, re-establishing the rules decided democratically. FairCoin users would need to change their wallet, though, but this is the way all other cryptocurrencies patch any severe or unforeseen problem which may occur during their lifecycle anyway. With chain admins being able to fine-tune some parameters with the move to FairCoin, we likely will never need to change the algorithm again, as they are able to fine-tune operational parameters."
[https://fair-coin.org/en/faircoin-faqs]
name::
* McsEngl.Faircoin-net'chain-admin'power,
doing of chain-admin
description::
"What is the task of the FairCoin chain administrators?
FairCoin administrators activate nodes after cooperatively validating the operators and may adjust some technical parameters in the FairCoin blockchain. This happens seldom and is designed thus because of the very long lifecycle of a cryptocurrency. The FairCoin assembly prepares the decisions and the chain administrators are the operators that are executing the decisions (see detailled technical instructions). At least 5 out of 8 chain admins need to agree when performing one of the following tasks:
✦ add a CVN
✦ delete a CVN
✦ change admins list
✦ change transaction fee (min 0, max 1 FAIR per kB)
✦ change technical parameters
-- block spacing (default is 3 minutes)
-- block spacing grace period (default is 1 minute)
-- minimum successive hash signatures (default is 10 = minimum half hour online, so that CVN may create a block)
In any blockchain based model, more than 51% nodes are needed to do a software update, in case the algorithm needs to be adapted. With FairCoin, some operation parameters can be set by storing them in the blockchain, if at least five administrators sign within three minutes. A maximum of eleven chain admins can be assigned. At the assembly on 15th of September 2016, eight people have fulfilled the criteria. Therefore 5 of the 8 need to sign each modification. Modifications can not stop the blockchain, but make it run smoother, e.g. if the number of transactions per second is reaching a certain limit (default blocksize is 1,5 MB, which can hold max. 3000 transactions = max. 10,6 transactions per second - FairCoin is the only (!) blockchain which can adjust such a limit, which is always a compromise between speed and storage consumption).
Compare it with an equalizer: if you adjust some frequencies, the sound will be better, depending on the room and music you play. The song may distort if you do not take care, but it does not fade away."
[https://fair-coin.org/en/faircoin-faqs]
name::
* McsEngl.Faircoin-net'chain-admin'doing,
doing.ADD-REMOVE-CVN of chain-admin
description::
"In the event malicious behaviour of a CVN is detected, it is removed instantly by the chain administrators. Re-application of such a person to become a CVN operator is not possible in the future. CVN operators can request removal if they are no longer willing or able to run a CVN.
The removal of a CVN will be performed by the chain administrators."
[https://github.com/faircoin/faircoin/blob/master/doc/CVN-operators-guide.md#45-removal-of-cvns]
name::
* McsEngl.Faircoin-net'chain-admin'doing.add-remove-CVN,
doing.ADD-REMOVE-CHAIN-ADMIN of chain-admin
description::
"To add or remove CVNs and chain administrators or update the dynamic chain parameters at least the currently defined minimum number of chain administrators have to sign the corresponding command which is then injected into the network via the wallets RPC interface."
[#idFairnetwpr2180753P1]
name::
* McsEngl.Faircoin-net'chain-admin'doing.add-remove--chain-admins,
FairCoop-general-assembly
description::
"FairCoop’s global decision-making process is structured by open global assemblies that take place in telegram groups. There are several different general assemblies gathered around different topics and scheduled on fixed days each month:
❖ FairCoop General Assembly: Third Thursday of each month.
❖ FairCoop Local Nodes Assembly: Last Monday of each month.
❖ FreedomCoop Assembly. Second Thursday of each month.
❖ Bank of the Commons General Assembly: Last Tuesday of each month."
[https://wiki.fair.coop/en:faircoop_governance:start]
name::
* McsEngl.Faircoin-net'general-assembly,
* McsEngl.FairCoop-general-assembly,
program of Faircoin-net
name::
* McsEngl.Faircoin-net'program,
generic-tree::
* blockchain-program,
human of Faircoin-net
name::
* McsEngl.Faircoin-net'human,
generic-tree::
* blockchain-human,
König.Thomas
name::
* McsEngl.human.König.Thomas,
* McsEngl.König.Thomas.human,
description::
Thomas-König: FairCoin core developer.
twitter: https://twitter.com/thokon00,
tom@fair-coin.org,
organization of Faircoin-net
name::
* McsEngl.Faircoin-net'organization,
generic-tree::
* blockchain-organization,
getfaircoin.net
description::
"WHAT IS GETFAIRCOIN:
Getfaircoin.net is an easy way to buy Faircoin from different national currencies like EUR, USD, SYP, CNY, RUB, GBP, INR, NGN, BRL, MXN, etc with commonly-used payment methods like wire Transfer, credit or debit Card, and now also using Cash, through the physical places set up by local nodes involved in FairCoop.
getFairCoin is backed and managed by FairCoop."
[https://getfaircoin.net/about/]
name::
* McsEngl.Faircoin-net'getfaircoin.net,
* McsEngl.getfaircoin.net,
FairCoop
description::
"Fair.coop is an open global cooperative, self-organized via the Internet and remaining outside nation-state control.
Its aim is to make the transition to a new world by reducing the economic and social inequalities among human beings as much as possible, and at the same time gradually contribute to a new global wealth, accessible to all humankind as commons.
Fair.coop understands that the transformation to a fairer monetary system is a key element. Therefore, Faircoin was proposed as the cryptocurrency upon which to base its resource-redistribution actions and building of a new global economic system."
[https://2017.fair.coop/faircoop/]
===
"FairCoop is not a registered organization nor has a headquarter."
[https://fair-coin.org/en/faircoin-faqs]
name::
* McsEngl.Faircoin-net'FairCoop,
* McsEngl.Fair.coop,
* McsEngl.FairCoop,
general-assembly of FairCoop (link)
local-node of FairCoop
description::
"Local nodes (LN) are the local grassroots base of FairCoop, they offer the link between the local projects, initiatives, individuals or collectives to the global FairCoop community. Therefore a local node can be seen as a connector team which shares the information bidirectionally (local-global-local)."
[https://git.fairkom.net/faircoop/MediaCommunication/wikis/How-to-create-a-Local-Node-[en]]
name::
* McsEngl.Faircoin-net'FairCoop'local-node,
local-node.AGGREGATE
description::
"as of July 2018, 55 local nodes are listed on https://map.fairplayground.info/map-localnodes/"
[#idFairnetwpr21807nt21]
name::
* McsEngl.Faircoin-net'FairCoop'local-node.aggregate,
info-resource of FairCoop
description::
"Since a few days ago, we have a new website, more adapted to the current needs of the FairCoop ecosystem movement.
This new website is mainly composed of:
✬ Home page https://fair.coop, which contains fixed information for those who want to know about us for the first time (newbies).
✬ New Forum https://forum.fair.coop, which replaces the role of the old FairNetwork (from now on, you need to register here to join our new site).
✬ New Blog https://blog.fair.coop, which is the space where we will publish the posts that were published here until now.
✬ New Wiki https://wiki.fair.coop, a tool still in preparation, which will be very useful to document FairCoop!
As you can see, the old website has been moved to https://2017.fair.coop, where you can still access the old content."
[{2017-12-25} https://2017.fair.coop/new-faircoop-website-published/]
name::
* McsEngl.Faircoin-net'FairCoop'resource,
addressWpg::
* https://fair.coop/en,
* old-site: https://2017.fair.coop/,
* https://twitter.com/Fair_Coop,
evaluation of Faircoin-net
name::
* McsEngl.Faircoin-net'evaluation,
generic-tree::
* blockchain-evaluation,
evaluation.CON
name::
* McsEngl.Faircoin-evaluation.con,
* McsEngl.Faircoin-net'problem,
generic-tree::
* blockchain-problem,
Faircoin-con.FAIR-distribution
description::
"FairCoin is a decentralised virtual currency, distributed through a vast airdrop process during the 6th and 8th of March, 2014 (view airdrop statistics). An approximate 49,750 addresses were logged for the giveaway, each able to claim 1000 FAIR per hour. Automated airdrop claiming methods had no effect, as each IP address could register once per hour, and 2 different captchas had to be solved. These security precautions were hidden till the day of distribution. FairCoin’s vast distribution method allowed a good portion of the cryptocurrency community to claim a little bit of the 50,000,000 FairCoins, each."
[https://2017.fair.coop/questions-and-answers-a-faircoop-faq/]
===
"Who owns FairCoins today?
With the combined Proof-of-Work and Proof-of-Stake mechanism some additional 50.000 FairCoins per month have been given to various minters until 17th of July 2017 as a reward for being online with their wallets. With the introduction of the FairCoin Proof-of-Cooperation mechanism on July 18th, 2017, no more mining is possible.
As of December 2016, about 53 million FairCoins were spread roughly as follows:
• 9 million are owned by people outside the FairCoop ecosystem, where no one has more than 600.000
• 32,5 million are owned by people who are active in the FairCoop ecosystem
• 11,5 million are in the hands of FairCoop funds
- 10 million have been donated by Enric Duran
- 1.5 million wer not claimed, when we helped users to get back 18 million coins with a special recovery fund after the Mintpal crypto exchange crash in 2014
-9 million are locked for future use in the Global South fund, the Commons fund and the Technical infrastructure fund"
[https://fair-coin.org/en/faircoin-faqs]
===
"FairCoin will help to create the conditions for existing coins to be redistributed to amazing social projects worldwide, thanks to funds like Global South Fund, Commons Fund, Technological Infrastructure Fund and Refugees Fund."
[#idFairnetwpr218072P1]
name::
* McsEngl.Faircoin-net'con.distribution-of-FAIR,
* McsEngl.Faircoin-net'distribution-of-FAIR,
* McsEngl.Faircoin-currency'distribution,
Faircoin-con.SECURITY
description::
"How are attacks handled?
The peer-to-peer mechanism of blockchain frameworks is very failure proof. Each node (in FairCoin any wallet or CVN is a node) checks the behavior of other connected nodes and ranks them. If the bad behavior of a node exceeds a certain level, then it is disconnected for 24 hours. This also helps to prevent from DDoS attacks.
As CVNs behave like any other nodes. Their IP addresses are not listed, they can not be easily identified. The only means to find a potential CVN is to connect to a huge number of nodes and monitor all the packages and determine where you got the block/signature/nonce pool first. This becomes increasingly harder when the number of nodes grows to some thousand.
To make the network even more resilient, in future we could establish a network of full nodes at trusted partners that are very well connected. Selected CVNs could connect to these nodes only, to make them totally invisible.
If you want to analyse the block signing mechanism, have a look at the code and raise an issue in Github for comments.
Is there a risk, that CVNs get attacked to interrupt the blockchain?
You can not easily distinguish regular full nodes from CVNs because both run the exact same software and do the same thing except that CVNs also create blocks. Thus, there is no easy way to directly target a particular CVN. Proof-of-cooperation only defines what node ID is to create the next block and not what IP address it has or where it is located.
Almost all P2P crypto-currencies are vulnerable to DOS attacks. Because the IP addresses of all nodes is public information. Thus, you can flood all the known nodes and interfere with the network. There are currently about 10000 Bitcoin nodes and about 100 FairCoin nodes active. For a serious attacker it wouldn't make any difference if 10000 or 100 nodes are to be attacked.
Nevertheless, we have been discussing this issue. If we'd face such a situation one day we'd inter-connect CVNs directly and/or use well connected proxy nodes on some VPS. This would keep the blockchain running. Remember, the worst case is that an attacker could bring the blockchain to a temporary halt, that's it. It simply would continue when the attack is over."
[https://fair-coin.org/en/faircoin-faqs]
name::
* McsEngl.Faircoin-net'security,
law of Faircoin-net
name::
* McsEngl.Faircoin-net'law,
generic-tree::
* blockchain-law,
taxes of Faircoin-net
description::
"Do I have to pay taxes with FairCoin?
According to a decision of the European Court in Luxembourg, exchanging fiat money to cryptocurrencies or vice versa is not subject to value added taxes. However, if you do business with FairCoins, you should treat them like a foreign currency in your books and add the trade value to your accounts or profit and loss statements, from which you calculate all taxes. Taxation rules may vary in detail (rules e.g. for Austria). It is at your own risk if you do tax disobedience with cryptocurrencies."
[https://fair-coin.org/en/faircoin-faqs]
name::
* McsEngl.Faircoin-net'tax,
info-resource of Faircoin-net
name::
* McsEngl.Faircoin-net'Infrsc,
* McsEngl.Faircoin-netAeResource,
generic-tree::
* blockchain-resource,
addressWpg::
* https://fair-coin.org/
* https://fair.coop,
* https://download.faircoin.world/,
* http://use.fair-coin.org/,
* https://getfaircoin.net/,
* https://market.fair.coop/,
FairChains
description::
"The FairChains project makes it possible for everyone to start their own blockchain for various use cases. For instance, you can implement a social currency or a crowd investment campaign.
FairChains is built on top of the FairCoin open source core wallet software. Each new FairChain has its own set of properties to easily adopt to every use case.
FairChains software is based on the innovative Proof-of-Cooperation (PoC) algorithm. This PoC consensus mechanism does not implement any mining or minting functionality, which are only needed for competitive systems. Instead, so called ‘Collaboratively Validated Nodes‘ (CVNs) cooperate to create new blocks and to secure the network.
Block-creation is effortless, that‘s why CVNs can be run on a Raspberry3 which consumes only a couple of watts and does not waste energy or computing resources."
[https://fair-coin.org/en/fairchains]
name::
* McsEngl.FairChains,
* McsEngl.Faircoin-net'FairChains,
addressWpg::
* coming soon: https://fairchains.org/,
* https://fair-coin.org/en/fairchains,
* developer: https://github.com/fairchains,
* user: https://fair-coin.org/sites/default/files/inlineimg/manual_fairchains1.1_0.pdf,
Faircoin-net.SPECIFIC
name::
* McsEngl.Faircoin-net.specific,
* McsEngl.Faircoin-netAsSpecific,
specific::
Faircoin-net.EVOLUTING
name::
* McsEngl.Faircoin-net.evoluting,
{time.2018-03-30}::
=== Bittrex-delisting:
"We have decided not to sign any statement wth Bittrex (because FairCoin is not an ICO) and got de-listed on their crypto-market on March 30th, 2018. Our strong community has bought 1,2 Million FairCoins the two weeks before this de-listing, which really is a powerful sign of real world usage."
[https://fair-coin.org/en/create-value]
{time.2017-07-18}::
=== proof-of-cooperation:
"On July 18th 2017 the new ‘Proof of Cooperation’ algorithm was introduced to FairCoin and with this an energy-saving blockchain which facilitates cooperation instead of competition. With the innovative PoC algorithm block creation and network security is made by ‘Collaboratively Validated Nodes‘."
[https://fair-coin.org/en/white-paper]
[https://chain.fair.to/block?block=0]
{time.2014-01-07}::
=== block0:
genesis-block
[https://chain.fair-coin.org/block/f1ae188b0c08e296e45980f9913f6ad2304ff02d5293538275bacdbcb05ef275]
