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In late May 2013 FastCoin (FST) was launched; its primary innovation being to have the fastest transaction speeds of any digital currency currently in existence. Compared to Bitcoin’s 10 minute block times the FastCoin network has just a 12 second target block time with transactions fully confirming in 48 seconds. Based on the same fundamentals as the Bitcoin protocol FastCoin is a blockchain based, decentralized, peer 2 peer worldwide digital currency with no central issuing authority. FastCoin has seen a rapid rate of adoption, with the coin’s market cap reaching $1 250 000 USD in late November, and the official website, http://fastcoin.ca, seeing constantly increasing traffic and serving thousands of unique hits every month. The coin is backed by a team of developers and FastCoin enthusiasts from all over the world; including the USA, Europe, Australia, UK, Russia, China, Brazil, Argentina, South Africa, India and more.FastCoin is based in Toronto, Canada, but the core development team consists of 10 highly qualified individuals from all over the world. The majority of the core team are primarily system engineers: seasoned veterans of the IT ecosystem, with some possessing over 25 years experience in the industry. Some members of team FastCoin possess teaching backgrounds having taught computer science at the University and College Level. Others have held relatively key positions for high profile international IT companies such as Microsoft, Symantec and ATI. FastCoin also has professionals with MBA’s and global work experience; aiding the business analysis aspects of managing the FST project. All have been actively involved in the cryptocurrency space for years; enthusiastically mining Bitcoin and participating in the emerging digital currency economy. Christopher Tao is regarded as the head developer of FastCoin and the coin’s primary creator.
Reflecting the popularity of the coin, the official FastCoin twitter account has over 11 000 followers and this is rapidly growing month after month. With its fast transaction speeds the FastCoin team is also actively targeting the mobile space and to this end they have released an Android FastCoin wallet. Due to its lightning fast transaction speeds FastCoin offers tangible benefits for merchants who accept FST as a payment method; any website or business who reaches out to the FastCoin team looking to accept FST will be warmly received.
With its highly qualified and motivated core development team, strong social media presence, rising popularity and primary innovation of being the fastest transacting digital currency in the cryptocurrency ecosystem, FastCoin has a bright future ahead. With FST having reached a market cap of $1 250 000 USD, this is no doubt a foreshadowing of bigger things to come.
To learn more about FastCoin please go to: http://fastcoin.ca
FastCoin on Twitter: https://twitter.com/fast_coin
FastCoin on Facebook: https://www.facebook.com/pages/Fastcoinca/593923330628082
FastCoin Android App Beta: http://www.fastcoin.ca/fastcoin-mobile-apps-beta-available.html
FastCoin Sites and Services: http://www.fastcoin.ca/services.html
FastCoin is currently the fastest transacting peer 2 peer digital currency in existence; for the technically minded the FST protocol details are as follows:
- 12 second block target.
- 4 confirms per transaction – every transaction confirms in 48 seconds.
- Mining difficulty retargets every hour. Accelerated re-targets are utilized so as to eliminate instamining.
- 32 coins per block, block reward halves roughly every 12 months or 2 592 000 blocks.
- A total of 165 888 000 coins will be minted.
- Connection port is 9526, RPC-port 9527
- Similar to Litecoin, FastCoin utilizes a Scrypt based cryptographic algorithm.
Release ID: 28191
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