Ferrum Network Price Chart Update [FRM]

What Is Ferrum Network (FRM)?

Ferrum Network is a project that focuses on decentralizing cryptocurrency. Launched in June 2019 by a team of experts in the crypto industry, the project aims to combine the benefits of blockchain decentralization into a single network. This merging of technologies is intended to promote the mainstream adoption of cryptocurrencies globally.

By utilizing the best qualities of existing networks in a high-speed transaction layer, Ferrum Network offers an alternative method for validating and expediting activity between users. According to the official whitepaper, Ferrum Network strives to become a next-generation, high-speed interoperability network.

Who Are the Founders of Ferrum Network?

Ferrum Network was founded by a team of experts with extensive experience in engineering and blockchain technology.

Naiem Yeganeh, the co-founder and CEO of Ferrum Network, graduated from the University of Queensland and began his career in software engineering in 2013. Yeganeh also founded Maad Afrooz Technology and has worked for tech giants Microsoft and Amazon. Before founding Ferrum Network, he served as a core machine learning expert for Bloomberg LP.

Ian Friend, another co-founder of Ferrum Network, currently serves as its chief operating officer. He holds a degree in business law from the New York Law School and has worked as an associate attorney for prominent firms such as Pantano & Gupta and Wilson Elser. Friend also acts as a strategic advisor for Poolz and Project Inverse. Since 2018, he has dedicated his full attention to Ferrum Network, leaving his active duties as an attorney.

What Sets Ferrum Network Apart?

Ferrum Network: Enhancing Cryptocurrency Use in Everyday Life

Ferrum Network is a project that aims to enhance the use of cryptocurrencies in everyday life by providing comprehensive solutions. The company's objective is to make cryptocurrencies accessible to non-professionals and establish digital assets as the new global currency.

According to its founders, Ferrum Network's mission is to enable lightning-fast cryptocurrency transactions, as its blockchain is designed to process transactions of any size within milliseconds. The company leverages the decentralization features of blockchain technology to eliminate the need for third-party intermediaries, reducing transaction fees and enhancing privacy and data protection for both senders and receivers. Additionally, the platform allows developers to create decentralized applications (DApps).

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How Many Ferrum Network (FRM) Coins Are There in Circulation?

Ferrum Network (FRM) tokens: Understanding the Circulation

Ferrum Network (FRM) tokens are essential for the functioning of the underlying blockchain. The maximum supply is 331,718,750 tokens, with 329,218,749 tokens already issued as of February 2021. The active circulation of FRM tokens is approximately 147,528,487 FRM.

Two initial private sales accounted for about 15% of all FRM tokens. Another 22% were allocated to the Ferrum Network ecosystem. Founders and other essential team members received approximately 10% of the maximum token supply. An additional 15% of FRM tokens were allocated to the marketing growth pool. The remaining minted tokens have been distributed for other essential goals, such as the network incentivization pool.

Securing Ferrum Network (FRM)

As an Ethereum-based network, Ferrum Network's FRM tokens are ERC-20 tokens, incorporating some level of proof-of-stake (PoS) capability into the blockchain.

The Ferrum Network utilizes directed acyclic graph (DAG) ledger technology and employs a proof-of-burn (PoB) consensus. This combination of consensus methods allows for versatility and enables customers to use and purchase various cryptocurrency tokens. Users can benefit from the advantages of the underlying blockchain technologies.

Purchasing Ferrum Network (FRM) Tokens

FRM tokens can be purchased on several exchanges, including:

• BitMax
• KuCoin
• Uniswap (V2)

It is important to note that trading cryptocurrency carries risks, similar to any other investment.

Read more about buying crypto.