$0.000279
24h Change +16.25%
24h High $0.000320
24h Low $0.000230
24h Volume $399
Max Supply: 0
Circulation: 20,975,300
Market Cap: $5,843
Listing Date:
2023-03-18, 05:18:14
Network:
Multiple (See Below)
Asset Type:
Coin
Links
Social
This Asset Has Multiple Networks
Name: Ferritecoin
Ticker: FEC (FEC-MAIN)
Blockchain: Ferritecoin Main Chain
Confirmations Required: 100
Withdrawal Fee: 3596 FEC

Name: Ferritecoin
Ticker: FEC (FEC-BEP20)
Blockchain: Binance Smart Chain (BSC)
Token Type: BEP-20
Confirmations Required: 10
Withdrawal Fee: 241 FEC

Primary Markets (2 active)
Total Market Volume: ~$400
Liquidity Pools (2 Active)
Total Pool Liquidity: ~$920
Market | Volume | |
---|---|---|
$355.41 | ||
$44.33 |
Hot Wallets
Balance: 17182.13795891
Updated: 4.82 min ago
Balance: 7503862.70931275
Updated: 4.81 min ago
Balance: 0.00000000
Updated: 2.74 min ago
Balance: 2542552.54609954
Updated: 2.74 min ago
Highlighted Assets
Market Cap: $304K $0.0119
Market Cap: $34.5K $0.000000775
Market Cap: $30.3K $0.00278
Top Volumes
About Ferritecoin
- Utilitarian
Common metal intended to be used as "bad money" under Gresham's Law.
- Low value allows for cheap entry
Ferrite is to Litecoin's silver and Bitcoin's gold.
- Plentiful yet rare supply
Total supply is 60.22m which is ~3x larger than Bitcoin's 21m but smaller than Litecoin's 84m.
- Practical
Block time of 60 seconds where block latency is negligible yet transactions are confirmed fast.
Why create another altcoin?
- Most coins have overly inflated prices and therefore a high barrier to entry.
- A desire to create a faster, better coin which addresses the challenges brought about by low confirmation times.
- To learn and experiment with cryptocurrency without worrying about the finances.
- To create another coin with a fair start and zero premine.
Ferrite is a new proposal to optimize the transaction speed and cost of Bitcoin and Litecoin, with a block time of 60 seconds and larger block size of 4MB. (10x faster than Bitcoin, near zero fees) Similarly, it is an electronic cash system that operates on a peer-to-peer network and eliminates the need for a trusted third party. These systems aim to solve the problem of double-spending through the use of digital signatures and a proof-of-work mechanism using hashing algorithms such as SHA-256 and Scrypt that creates an ongoing chain of timestamped transactions that cannot be altered as a secure evidence of the sequence of events generated by the hashing work of miners in mining pool nodes. Ferrite is designed to have a low barrier to entry to allow for mass adoption and seeks to be the ferrous base metal digital equivalent of Litecoin's silver and Bitcoin's gold.