FairERC20 (FERC) — price, overview & secure storage

What is FairERC20 and who created it?

FERC20 is a token protocol standard that builds upon the ERC20 standard. It aims to enhance the fairness of token issuance on the Ethereum network by integrating the decentralized issuance method of BRC20 with the programmability of ERC20 smart contracts. This combination allows for a more equitable distribution of tokens, leveraging Ethereum's robust ecosystem.

Key features of FairERC20 blockchain

FERC20 offers several unique features that distinguish it from other token standards. It allows for easy transfers using familiar wallet interfaces without the need for new software. The tokens can be utilized within Ethereum's DEFI ecosystem, including decentralized exchanges (DEX), lending platforms, and multi-signature wallets. Notably, FERC20 tokens have no owner authority, meaning there are no owner tokens, and tick characters can be upgraded. The protocol ensures no pre-mining, with tokens being mined from zero until the hardcap is reached. The architecture is highly decentralized and serverless, with all functions executed through smart contracts, allowing users to interact directly with the contract.

How FairERC20 transactions work

FERC20 is implemented on the Ethereum network and incorporates additional attributes to prevent Sybil attacks and smart contract bots. One such attribute is the freeze period, which is activated when a user mints coins for the first time. During this period, users must pay a tip to the platform to continue minting coins, with the tip amount doubling for each additional coin. For example, the first coin minting during the freeze period costs 0.00025 ETH, the second costs 0.0005 ETH, and the third costs 0.001 ETH. This mechanism is designed to enhance security and fairness in the token issuance process.