Today marks the launch of a new cryptocurrency called The Freedom Coin (TFC).
TFC is a lightning-fast cryptocurrency that encourages users to hold the currency or to use it for actual transactions. Unlike Bitcoin, the most prominent cryptocurrency, which has become more of a digital asset, TFC is meant to be spent. When coins are not spent, they earn interest in wallets. This encourages users to keep coins and not sell them on exchanges which often decreases the value. The supply of TFC is limited to 25 million so the value will increase over time as the supply decreases.
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TFC is the fastest altcoin on the market and can handle an impressive 256 transactions per second. It can hold its own against PayPal which clocks in at 193 transactions per second. This is far superior to first- and second generation cryptocurrencies like Bitcoin that can only manage 4 – 5 transactions per second.
It has a very big block size of 3MB, which is 3 times the size of Bitcoin. This means that lots of transactions can be processed each minute. The transaction fees are exceptionally low at around 0.0001 TFC ($0.000185). This makes TFC a coin that can be used and spent as digital money.
The TFC blockchain is maintained by masternodes. Masternodes are dedicated servers which store a full copy of the TFC blockchain and have a wallet attached. Mastenode holders have a say in the direction of TFC through a unique voting mechanism. In order to have a masternode, users have to put up 5000 TFC coins in a wallet.
This is called collateral. Masternodes act in the best interest of the network because they have a financial investment to keep the network functioning properly. They receive rewards automatically when a new block is verified on the TFC blockchain. Unlike other cryptocurrencies that rely on masternodes, TFC masternodes also receive additional monthly incentives called Network Support fees, paid to owners in Bitcoin for looking after the blockchain.
No Mining, Only Holding
Instead of mining for coins like Bitcoin, coin holders earn dividends or rewards on the coins they hold. This motivates users to hold coins and not sell them. It also levels the playing field and barrier to entry. Anyone can buy and stake TFC coins instead of cryptocurrencies where expensive mining equipment is required.
Staking means locking the coins in so that they cannot be spent for a period of time. It is also more energy efficient than coins that are mined. Coins can be staked in any wallet. The coins first have to mature for about 24 hours. Thereafter, users can stake these in any wallet and receive rewards.
The TFC blockchain officially launches on 8 May 2018. During the Masternode presale, each Masternode costs 5000 TFC or 1 BTC. There will only be 1000 Masternodes available from the premined coins in total. We recommend purchasing a Masternode early as the price will increase after the first phase of the launch.
On 1 June 2018, the price will increase to 1.5 BTC per Masternode and the 15th of June will see prices at 2 BTC per Masternode. Users can also purchase shared masternode units instead of a full node. There are 20 units per masternode so users can invest in 5% shares. This makes it affordable and accessible to anyone.
TFC Masternode holders also have access to Value Added Product Services (VAPS) through a diversified portfolio that creates additional streams of income.
About The Freedom Coin (TFC) Team
The TFC team comprises Founder and CEO, Douglas Bothma as well as CTO Liaan Roodt. Together they have launched TFC, as a cryptocurrency solution. They also play an active role in the communities of a number of other altcoins. They are supported by Esté Rothmann as Advisor and have a design and an admin team consisting of Ashton Dookhilal, Jessi Fann, and Louis Nel.