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About FYDcoin
- FYD is a decentralized gig-economy utilizing web dApps, blockchain, and cryptocurrency.
- FYD coin is an open-source cryptocurrency designed for digital freelancers.
- FYD has its own live blockchain, no pre-sale, ICO, or IEO, and is funded by the community and automated treasury.
Key Features
- Fast transactions (under 1 minute) and low transaction fees (under $0.0001)
- Maximum supply of 650M FYD coins
- FYD coins can be staked with any household PC or laptop to mint cryptocurrency
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Introducing FYDcoin: A Pioneering Cryptocurrency
Introducing FYD (FYD): A Comprehensive Overview
FYD is a vibrant online community comprising freelancers and crypto enthusiasts, collaboratively driving the vision of a decentralized gig-economy, leveraging the synergies of web dApps, blockchain technology, and cryptocurrency. The community is dedicated to empowering newcomers with comprehensive knowledge of cryptocurrency, staking, mining, NFTs, and Masternodes. Notably, FYD boasts its own live blockchain, having never resorted to pre-sales, ICOs, or IEOs, and is instead fueled by community contributions and an automated treasury system.
FYD coin is an open-source cryptocurrency specifically designed to cater to the needs of digital freelancers, including web designers, programmers, animators, writers, and online content creators. As a digital coin, FYD enables seamless, person-to-person transactions without the need for intermediaries like banks (Learn more about how FYD works). With its fast transaction times, confirmed in under a minute, and extremely low transaction fees of less than $0.0001, FYD coin is ideally suited for peer-to-peer microtransactions, making it an essential tool in the gig economy.
Beyond facilitating value transfer, FYD also serves as a store of value. With a capped supply of 650 million, FYDcoin holders can leverage their household PCs or laptops to engage in minting cryptocurrency through staking. Furthermore, the decentralized ledger or blockchain explorer, accessible online to all, enables the tracking of FYD coins.
The FYD coin serves as the native cryptocurrency, facilitating a multitude of purposes, including:
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A medium facilitating rapid, trustless micro-transactions between users, third-party platforms, and FYD’s native applications, eliminating the need for intermediaries like banks.
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Incentivizing stakeholders to support and secure the FYD chain.
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Funding FYD project development through an automated treasury system.
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Decentralized, on-chain governance.
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A store of value, characterized by a finite supply and a yearly halving mechanism.
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An eco-friendly mining alternative, leveraging a proof-of-stake algorithm.
A conduit for swift, micro-transactions between users, third-party platforms, and FYD’s native applications, eliminating the necessity for a trusted intermediary, such as a bank.
Incentivizing stakers to bolster the security and integrity of the FYD chain
The FYD project is propelled forward through the innovative implementation of an automated treasury system.
Decentralized Governance (On-Chain)
A repository of value, characterized by a finite supply and a predetermined halving schedule, which occurs annually.
An environmentally conscious mining alternative, harnessing the power of the Proof-of-stake algorithm.
FYD Native Applications
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The FYD wallet offers a user-friendly desktop solution, empowering individuals to maintain control over their private keys, participate in FYD coin staking, and establish Masternodes, all without relying on third-party platforms.
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FYDme is a pioneering application that facilitates direct connections between freelancers and clients, eliminating the need for intermediaries like Fiverr or Upwork.
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The Staking Ledger is a cutting-edge hardware wallet capable of hosting a copy of the FYD blockchain, enabling users to stake FYDcoin independently, without the need for a PC, laptop, or third-party services.
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FYDswap is a decentralized application that enables peer-to-peer swapping of FYD for BTC and DASH, eliminating the need for third-party exchanges.
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FYDwiki is a comprehensive online platform designed for newcomers to the world of cryptocurrency, featuring informative articles, videos, and general resources for those seeking to conduct thorough research.
FYD Wallet: A user-friendly desktop wallet that empowers individuals to maintain full control over their private keys, participate in FYD coin staking, and establish Masternodes, all while eliminating the need for intermediaries.
FYDme: A pioneering platform where freelancers can seamlessly connect with clients, eliminating the need for intermediaries like Fiverr or Upwork.
Staking Ledger: A cutting-edge hardware wallet capable of hosting a local copy of the FYD blockchain, empowering users to stake FYDcoin independently, sans the need for a PC, laptop, or third-party intermediaries.
FYDswap: A decentralized platform empowering users to seamlessly exchange FYD for BTC and DASH in a trustless, peer-to-peer manner, eliminating the need for intermediaries.
FYDwiki: A comprehensive online platform catering to newcomers in the realm of cryptocurrency. Here, you’ll find a wealth of informative articles, engaging videos, and a plethora of general information, empowering you to conduct thorough due diligence.
The Circulating Supply of FYD Coins: A Closer Look
FYD Protocol successfully launched its mainnet on March 25, 2019, at 09:37:54, with an initial allocation of 650,000 FYD created at genesis. As of now, the total supply has grown to 547,392,500.07 FYD, all of which were minted by the community over the course of 2.5 years. Notably, starting from block 245,001, 10% of every block reward is automatically redistributed to a community treasury, dedicated to funding future development initiatives.
Presently, the block rewards are allocated as follows: 70% is received by FYD Masternodes, which require a 400,000 FYD collateral, while 20% is distributed among users who stake FYDcoin. Notably, a substantial 300 million FYDcoins are currently locked as collateral. The current staking reward stands at 70 FYD, with Masternode rewards amounting to 140 FYD, and 10 FYD allocated to the community treasury.
Every 526,001 blocks, the block rewards are incrementally reduced until the maximum supply of 650,000,000 FYDcoins has been reached. This predetermined ceiling is hardcoded into the protocol, ensuring a finite supply. The last FYDcoin is projected to be minted in approximately 7 years.
Unveiling the Distinctive Characteristics of FYDcoin
FYD synergistically leverages the robust capabilities of larger cap protocols to craft a tailored solution uniquely suited to FYD’s specific needs.
Bitcoin’s finite supply, coupled with its yearly halving mechanism, fosters an atmosphere of scarcity – a quality that FYDcoin also embodies. Notably, the total supply of FYDcoin is capped at 650 million. Furthermore, FYDcoin draws inspiration from DASH, leveraging Masternodes to ensure network security, facilitate instant transactions, and implement governance features. Additionally, FYDcoin has adopted the advantageous staking mechanism of PivX, making it accessible to smaller users.
FYD, akin to Bitcoin, is not controlled by a single entity. Initially abandoned by its developer, the project was revived by a decentralized community. For newcomers, staking FYD can serve as a gateway to exploring various facets of cryptocurrency, including finite supply, staking and minting, masternodes, halving, and wallets. Notably, every FYD coin in existence has been either purchased or minted. Furthermore, FYDcoin is poised to reach its finite supply before Bitcoin.
The Visionary Founders Behind FYD Protocol
FYD, akin to Bitcoin, is not under the ownership of a single entity. Initially, the project was abandoned by its developer, who had sold pre-mined coins, but was later revived by a decentralized community of enthusiasts.
FYDcoin has been actively trading on prominent exchanges since its inception, with the initial developer subsequently relinquishing control of the project to the community. The remaining coins were then sold on exchanges, thereby empowering the community to acquire and stake FYDcoins or establish Masternodes, thereby generating additional FYDcoins.
With a diverse collective of crypto enthusiasts and freelancers, each possessing a fair allocation of coins, sans ICO/IEO, the advancement of FYD ultimately benefits the community at large. To further propel development, a community treasury was integrated into the protocol at block 245,001, a decision ratified by the community itself.
Acquiring FYDcoin (FYD): A Comprehensive Guide to Exchanges and Marketplaces
FYD is now accessible for trading on an expanding array of exchanges, boasting an increasing range of cryptocurrency and stablecoin pairing options.
As of October 2020, Binance boasts the most extensive array of trading pairs, while Huobi Global provides a diverse range of options, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
New to the captivating realm of cryptocurrency?
FYD offers a comprehensive array of articles and instructional videos, meticulously crafted for beginners, providing a seamless introduction to the realm of cryptocurrency.
Unlocking the Power of Staking: A Beginner’s Guide to Crypto Investing
Unlock the Power of Staking: A Beginner’s Guide to Crypto Wealth
Unlock the Secrets of Masternodes: A Beginner’s Guide
A Beginner’s Video Guide to Masternodes
Unveiling the World of Cryptocurrency Mining: A Beginner’s Guide
Unveiling the World of Crypto Mining: A Beginner’s Guide to NFT Tokens
Unlocking the World of NFT Tokens: A Beginner’s Guide to Digital Collectibles
Discover the simplicity of acquiring Bitcoin or any other digital asset with CoinMarketCap’s comprehensive guide.