One of the biggest challenges for any virtual currency is usage. Regardless of the technology a currency features, its worthless if it’s not being spent. Those who follow alt-coin’s know just how difficult it is to gain vendor acceptance. Part of the problem is people prefer to hoard their coins rather than use them, incase the currency rockets in value. Even if a storekeeper decides to accept a crypto-currency, people rarely take advantage of the ability to spend their coins. Coin holders are very hesitant to spend coins that they think could be worth much more than its current value. In addition to hoarding, the number of alt-coins in existance has made mass acceptance of a coin nearly impossible. A currency, above all else has to be used to facilitate deals: but instead of using crypto-currencies as such, most people hoard them as if they are a commodity. Since the arrival of Bitcoin, new currencies have sprouted up almost every day. Nearly every one of these coins is based on:
· Proof-of-Transaction ( PoW): rewards the miners, strong network
· Proof-of-Stake ( PoS): rewards the savers
This is where Fluttercoin comes in. Fluttercoin is the only currency that utilizes a hybrid of three systems. Fluttercoin is built on:
· Proof-of-Transaction ( PoW)
· Proof-of-Stake ( PoS)
· Proof of Transaction (PoT): Proof of Transaction rewards the spenders. This encourages spending, as theres a chance of getting cash back on every deal! This feature is completely unique to FLT. While the “reward” isn’t large for a single transaction, those who conduct many transactions will accumulate significant savings.
By incorporating PoS, PoT, and PoW, Fluttercoin rewards every type of user. Whether they are a miner, a saver, or a spender. Fluttercoin is great for vendors, as potential customers are rewarded, at no cost to the vendor, just to spend their coins!
Soltantgris, Team FLT