We are glad to inform you that FuturoCoin is going to go through the hard fork. What does it mean? When you want to be a part of the cryptocurrency network, you have to comply with the blockchain protocol, which defines mining, connection, and transaction rules. The fork is an incident when your protocol version differs from the main one.
Hard fork – what is this?
The hard fork is an occurrence on cryptocurrencies when two chains are mined at the same time, and it is hard to find out which blockchain is prevailing. It is significant to mine the next chains – the longest one becomes the main chain, the shortest one is no longer mined. Forks use to initiate new functions in the system and to set new principles.
The first stage of a hard fork
Hard forks consist of two steps: setting masternodes and restraining of FTO supply. When you use cryptocurrency in any transaction, the transaction should be confirmed by masternodes. They take part in coin mixing and have the right to verify purchases. Of course, masternodes don’t do it for free. They perform an essential function, and work without any break which cost money, so – it’s obvious – they have to earn. How? There is a prize for every mined block – half of a prize goes to a miner, another half to masternodes.
The second stage of a hard fork
The second stage of hard fork is the restraining of the FTO supply. The sooner you become a masternode, the more significant demand for being masternode starts to appear. FTO’s prize will grow naturally, and the cryptocurrency will be worth more.
When the FTO’s prize and contribution to become masternode will increase significantly, there will occur a possibility to create masternode’s pool. You can collect the input with other interested clients. Remember that masternode’s actions have an impact on the FTO’s prize.
If you want to know something more about elements of hard fork – check out How to set a masternode? or another of our articles.