Fonero (FNO) An Introduction

Fonero (FNO)

by KDW 668 Views comments

Fonero (FNO) An Introduction

We at Coinfeed use on a daily basis to mine for coins, our latest venture has been GRAFT but, we are thinking of changing to Fonero (FNO)

What is Fonero? Well you may ask...

Fonero is the ultimate confidentiality for the transfer of money and information.

Fonero is a fork of Monero crypto currency. It aimed on full decentralisation in the system of transferring of digital assets.

Fonero is not only a crypto currency, it's a decentralised digital system. Fonero is based on CryptoNote technology and uses a unique encrypted data transfer system that works on the basis of the blockchain. Fonero doesn't have any owners or authorities that control it.

The mining process of Fonero is available for an unlimited range of persons who use GPU and CPU processors, but it's also protected from special mining devices like ASIC.

The main advantage of Fonero is use of Ring Confidential Transactions (RingCT) for all transactions. Also, all the problems and mistakes of Monero developers were taken into account and there are no problems inside the blockchain.

Features of Fonero:

  • Anonymous Instant Transaction based on RingCT
  • Effective CPU and GPU mining with protection from ASIC
  • The PoW system that maintains the decentralisation of the system

Fonero characteristics:

  • Algorythm PoW: CryptoNight
  • Hardfork: Wed Nov 08 2017 21:57:42 GMT+0500
  • Hardfork testnet: Wed Nov 08 2017 21:58:03 GMT+0500
  • Maximum amount coins: 18,4 million
  • Emission: 20 years
  • Block reward: a smooth changing in the repetition ratio,
    block_reward (block_height) = (2 ^ 64 - 1 - total_supply (block_height - 1)) * 2 ^ -19 * 10 ^ -12
  • Block time: 120 seconds
  • Difficult: varies on each block

(Block height #1) The award was 2 million coins, 50% of it will remain with the developers and other 50% will be allocated between the community that takes part in the popularisation of Fonero