Here I will highlight what I consider the important things and what have been my experience with this coin after three months of holding a couple of masternodes.
Folm Coin came out to the public on Feb. 2018, as the second coin with the PHI1612 algorithm after Luxcoin did it, Folm is a combination of different technologies including Bitcoin Core, Bulwark and some others not specified.
By adjusting key subjects in the structure of a cryptocurrency, Folm development has decidied to be a new payment system where problems like transaction speed, block time, block size and other features that will be added with time will improve such payment system.
Now days everything as a service is a new trend, we have Infrastructure as a Service IAAS and Software as a Service, in this case Folm Universe aimed to provide an online type banking service, they call it Folm Bank, this business model mayor target is safety, safety for the coin holders, the user’s assets will be safe on the Folm Coin buy using a mix of Cold/Hot wallet, on the discord channel was discuss that part of the coins will be held on a hot storage and will be available to immediate spend and the other part will remain on a cold storage this as a safety measure, other features like creating templates to pay for services every amount of days and also sending assets to a third party that can only be withdraw or use starting at a specific date/time.
Folm Bank will include at first the following features:
- Can exchange Folm to Bitcoin or Ethereum, Folm Bank will interact as an escrow service and probably more crypto currencies will be added
- Store Folm coin users assets
- Easy Setup Masternode, this already exist within other coins but lets see how it works for Folm.
Folm Coin Specs:
The six hashing algorithms that make up Phi1612 are:
- Cubehash (Daniel J. Bernstein 2009)
- Echo (Petri Nets 2012),
- Fugue (Shai Halevi, William E. Hall, and Charanjit S. Jutla
- Gost (RF. 2012)
- Jh (Wu 2012)
- Skein (Ferguson etal. 2010)
Folm Coin Features:
- No ICO
- Open Source & Decentralized
- Secure Algorithm
- Instant Send
- Anonymous Send
- Dark Gravity Wave difficulty adjustment
- Mining with Less Energy and Heat
In my personal some of the good things I find with this project are:
- NO ICO: that’s awesome, every day we see more and more masternode coins with pre-sales were after a few months drop price cutting the initial investment of a masternode to even more than 90%. Although it does have a pre-mine that is small in my opinion, only 5%
- Anonymous Send: anonymity probably is not that important now that cryptocurrencies are starting but once we have mass adoption it will.
- Masternodes: I love masternodes, it’s a great way to support the network and get a passive income for masternode holders, within the plans of Folm there is an adjustment of the rewards on the second year that will a shot at keeping masternodes investors within the eco system.
- Obfuscation Coin Mixing: we go back to anonymity, this will aloud users to mix there coins within an specific transaction and get back in a exchange different coins within the network, making sure that the transaction cant be trace.
- Tor and IPV6: masternodes will be able to run from any Onion address or IPV6, running your masternode from an Onion address may increase the anonymity of transactions depending on how secure is the Tor network or nodes you are in.
- Mining with Less Energy and Heat: this feature for miners is a win win, heat and energy is a big concern for any miners and translates to money at the same time, this gives a good leverage to attract miners into the project as long as the project keeps the price, meaning the project keeps developing and delivering.
For me what makes this coin different from others is that it has a public development team, they seem to be working every day on the project as any other regular job, Folm Coin is being manage as a regular business were developers are employs and need to close tasks, although they claim to be in track it has been some time without any important release, coin holders are still waiting, probably it would not be a good idea to spend “good news” on such market when everything is going.
Masternode setup is very easy, I will be releasing a post/video on how to setup a masternode from scratch on Windows, daily on average you get about 15.8 coins, at current market price that’s around $0.55 cents of a USD dollar.
Folm coin went from 0.00008 btc to 0.000004 btc and in some cases 200 sats, seems to hit bottom already and time will tell, for anyone getting in now its way better that in March when it was at its peak.
From now on it would depend if the team keesp delivering and the market to correct, I do see Folm at higher levels in the future, Folm needs marketing to be done right and keep innovation going on, even after the crash of this year its still over 500 users on Discord and currently about 550 active masternodes that’s almost 3 Million coins locked on Masternodes from a Maximum Coins of 23,007,916.
Fom Coin can currently be bought at: