Halving for cryptocurrency – what does it mean?

FTO’s hard fork consists of two occurrences – setting masternodes and supply reduction. What does it mean to supply reduction? Every cryptocurrency has limited resources. The more production increases, the more price of goods decrease, but cryptocurrency as a carrier of value can grow. Check out, what means halving for cryptocurrency.

Even BitCoin – one of the biggest cryptocurrencies – has its supply fixed on 21 million. Reports say that 80% of this number is already mined. Quantity of BitCoins available to mine is getting smaller, but the supply of new coins will be depleted about the year 2140. Low cryptocurrency supply is related to high demand and price growth, which is different from the global financial system.

Halving for cryptocurrency? – the main idea

Soon, we want to increase the FTO’s price by decreasing the count of mined coins – this exactly is halving. To understand the idea of halving you have to know how cryptocurrency is made. Significant amounts of computers register and verify transactions and their accuracy in the blockchain. The leading miner’s request is to add new blocks of information to the database. Mining also means competition between computers which solve math problems. When one of them is solved – a new block appears and connects with the blockchain. For that effort, miners claim the reward in a coin. Halving entails with reduction of remuneration by half.

We are planning to do several halving every two years. We hope that the popularity of FTO will grow immediately as well as an exchange price. You can see the cost reduction in the sphere of mining. The sale of FTOs intended to cover the cost of mining will also decrease.

Read more on https://newsroom.futurocoin.com

setting up a masternode

Setting up a masternode – how to do it?

Setting up a masternode involves having a specified quantity of coins. Also, you have to own a wallet that integrates your computer as one node operating with blockchain. Masternodes allows using many functions, like doing an anonymous, immediate payment, voting on a significant development. Masternodes operators and miners earn 45% of block awards. Our cryptocurrency has its own rules of origin and conditions which establish and maintain masternode.

Setting up a masternode is the most expensive part of procedures. This cost of operation keeps the network decentralized. Moreover, every reward motivates masternode’s operators to keep their nodes in proper conditions. Masternodes are backups to additional functionality like the implementation of immediate transactions and the development of technical and financial blockchain.

Masternodes can be run by everybody but there is a barrier to entry, which ensures protection against attacks on a network. You have to hold a determined amount of coins that are blocked for the time of masternode’s work. If you want to become masternode you also have to possess a VPS server to support wallet 24 hours a day, unique IP address, enough disc space to store the blockchain, and at least basic knowledge needed to configure wallet and server. Additionally, every cryptocurrency and masternodes requires having a determined quantity of coins. It ensures vested network interest and protects against any inappropriate behavior.

How to run a Masternode step by step:

  1. Download the wallet with FuturoCoin and wait for synchronization.
  2. Now you have to order a dedicated IP address – you need it to connect to your masternode.
  3. Open the router port, necessary to work with the masternode. Contact the vendor to check if the ports are blocked or not. If so, ask to open a specific port. If not, open it out the router.
  4. Now download the explicit Masternode instruction of adaptation from the FTO’s website and check out how many coins you need to run masternode.
  5. Buy the determined amount of coins on the market and send them to the wallet on your computer. Then you have to synchronize blockchain with computer and create node address.
  6. At that time coins are sent to this address which allows gaining private key and data transactions to configure a node. The last step is creating a server working 24 hours a day. Then you can run it using your wallet.

Masternodes require initial investments which sometimes are too high for users. If you don’t have enough coins to buy the whole masternode you can invest in masternode pool with another user. Then gained award divides into all participants. The height of the award is based on the policy of FuturoCoin.

Masternodes can generate passive income without investing in specialized hardware. The appropriate cryptocurrency and the required barrier of entry ultimately determine which investments have to exist in order to be able to acquire Masternode. Several factors affect the level of the expected earnings: the exchange rate of the relevant currency and a Return on Investment. It means, how profits change in relation to the investment made. It is obvious that masternodes are a forward-looking method of investment.

Read more on https://newsroom.futurocoin.com

FTO update

Results of a fork – is it profitable to carry out?

The results of a fork are changes in blockchain structure. What exactly are these changes? First of all, one of the chains in blockchain becomes the dominant one. The second one shows low adaptation to conditions. Both chains exist and function independently with an approximately equal value. One of them dominates the other, but both remain equally valuable.

Results of a fork – how to recognize the type of the fork?

During the fork, any occurrence is possible, but the third option is most common. Then a new cryptocurrency appears. The first case is also highly probable, while the second one occurs most often during soft forks. When a cryptocurrency goes through a fork – find out if it is a soft or hard version. If you are a regular user – you do not need to do any particular actions, unless a new cryptocurrency is created in the process. However, if you are a miner – check that you have the latest version of the software.

How to receive free coins during the fork?

If you want to receive free coins from a hard fork, you need to do some critical steps. But first – find out why free coins are the products of the hard fork. Blockchain is a transaction book with registered actions. Each participant who received coins before and during the forks have coins in both chains after the end of the fork. New resources with a snapshot date in the general ledger create during the hard fork. The snapshot takes place at a defined block number, which is extremely important during the fork. So, if you want to participate, you’ll need to complete the transaction before the snapshot.

Directly speaking, a hard fork is a code change. A soft fork is a small change that is not needed to update the nodes. A hard fork is a massive change in blockchain, which significantly changes the operation of the cryptographic network. It can only be a change in blockchain or raise a new currency. The process requires an upgrade to the latest software version – the old and new chains are incompatible. The effect of the fork is the creation of two blockchains, two cryptocurrencies, and two code sets. Most participants update the software, and if not, the system continues to operate.

Are digital wallets important during the fork?

When the cryptocurrency forks, you want to keep it in a digital wallet with the ability to control private keys. The stock market and user wallets do a lot of work to take care of users, while a person with a private key can do it independently. If you use a third-party platform, you’ll be dependent on it for fork payouts. Remember to choose the right services for another platform, mainly when the hard fork is being carried out. Some of them work better, some – worse. The best of them have a long history of lending for carried out forks.

If you are the miner or you haven’t done any update of the software before the fork, you will stop in a chain that does not comply with the new rules and you will not be able to carry out post-upgrade activities.

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A hard fork is upcoming! Check this out!

The hard fork is upcoming! In connection to blockchain technology, a hard fork is a change in the protocol which influences on transactions and blocks. It requires users and nodes to update the newest version of the software’s protocol.

The hard fork is upcoming! – how does it work?

Put another way, it is is a new section of a blockchain version. The previous nodes’ release will be no longer valid. It creates some kind of fork in the blockchain. One of two paths follows the new blockchain, the second – along the old one. 

what-is-a-hard-fork
Source: https://blockgeeks.com/guides/ethereum-constantinople-hard-fork/

This activity involves splitting the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software. Users of the old blockchain quickly realize that its version is outdated and needs an update. Moreover, it allows reducing security threats in older versions of the software to develop functionality and rollback transactions.

Differences between a hard fork and soft fork

Obviously, a hard fork and a soft fork are a very similar process in which cryptocurrency code changes. In the case of the soft fork, only one blockchain is valid when users accept the changes while a hard fork relates with two blockchains. All users and programmers decide to carry out a hard fork for security reasons, although soft fork could also do the job. Furthermore, a hard fork associates with the release of high computing power – it is much safer than a soft fork.

We are so happy that the hard fork is upcoming soon!

Read more articles on http://newsroom.futurocoin.com.

FuturoCoin update

coverFTO

Dear users!

Technical work for FTO site is already done. A Website and an Explorer are again available to use.

We apologize for such a long time of waiting for the site to come back. Thank you for your patience and enjoy!

FuturoCoin Official site: www.futurocoin.com

Explorer FTO: https://explorer.futurocoin.com

Cryptocurrency and blockchain development

Blockchain development has an increasing impact on industrial progress. More and more people notice the possibilities that it brings. Blockchain is not just a decentralized system or a secure register. It also means secure user identification, secure storage and intelligent contracts. This technology, through saving specific resources, has contributed to the development of companies and global GDP growth. Continue reading

MAJOR ANNOUNCEMENT! Fake news!

Some fake news and information regarding FuturoCoin have appeared on the Internet recently. One of our biggest and the most important plans for the future is the FTO hard fork. Preparations for this event are still going on. Works on hard fork are still in progress. We haven’t disclosed its exact date to public information yet. In all unauthorized sources there is an information about the performed hard fork and the creation of a new cryptocurrency. We warn you that this information is not true! Continue reading

Blockchain as a copyright protector

Blockchain is one of the most dynamically developing technologies that contribute the improvement of work, i.e. large IT companies. Latest reports from China say this technology will be also used to protect copyright infringements which are common problem primarily in copying content issue. Check out how blockchain as a copyright protector can protect people’s work. Continue reading

Future and potential in FuturoCoin

We are glad to inform that one of the most known Japanese newspaper which specializes in blockchain technology saw potential in FuturoCoin. It is worth to remind that Japanese are leaders on cryptocurrency market. It is a big commendation that such an experienced experts noticed our expansion. Continue reading

How to set a masternode? – elements of hard fork

One of the most important requirement to set a masternode is to have determined amount of cryptocurrency’s units which cannot be spent on any action. If you’re planning to set a masternode – you can do it on your own. Just remember to have proper technical knowledge and a server with dedicated IP address. Set your server, pay certain safety net and take care of its maintenance. Continue reading