In May 2013 new digital currency Franko (FRK) was announced on the Bitcointalk forum; an open source blockchain based digital cryptocurrency based on the Bitcoin protocol – designed to be fairer, faster and rarer than Bitcoin. The Franko protocol has a blockchain speed of just 30 seconds – ten times faster than Bitcoin. Franko has over 15 merchants accepting it as a payment method, and the currency is currently traded for Bitcoin on digital currency exchanges Cryptsy and Coins-E. As of the time of writing, 1 Franko (FRK) is currently trading for $1.37 USD per FRK equivalent in Bitcoin: this is an increase of over 500% in just a week. The project has an extremely active dev team and community: there is a Franko paper wallet and clients for Mac, Windows and Linux.
Franko has a diverse, robust and ever growing ecosystem; with an increasing number of FRK exchanges and services opening for business. Franko can be traded on Cryptsy and Coins-E, and users can purchase steam games, lotto tickets, web design, marketing, private investigators and more with their FRK. A neutral group of dedicated cryptocoin developers, merchants and members have banded together to form The Franko Collective. The Franko Collective includes many top developers in digital currency; committed to making the crypto community a safer, more profitable place for all. In addition, The Franko Collective does important charitable work, supporting causes like Folding@Home and CureCoin with direct contributions.
Franko was created by Christopher Franko, a 27 year old software developer living in Eastern North Carolina. Christopher Franko has been developing software for over 13 years and loves what he does. He has worked on many projects ranging from automation technologies, to a social network for poetry, to successfully developing software to migrate sensitive medical documents to a new more efficient system. After years of researching and gaining a profound understanding of the underlying protocol, Christopher realized he had the tools needed to help the world achieve financial freedom and thus Franko was born. When asked why he developed Franko he replied “I developed Franko because, at the time, I wasn’t satisfied enough with the alternatives being offered and felt like the world needed something more fair, more rare, and a lot faster. Waiting an hour to make a purchase wasn’t going to cut it.”
With a blocktime speed of just 30 seconds Frankois certainly fast: with transactions confirming twenty times faster than the Bitcoin protocol. Being fair is also intrinsic to Franko’s design: Franko’s block reward of 0.25 FRK halves approximately every 44 years. This ensures that many people can begin to hold FRK before the next block halving. As of the 24th of November 2013, for now Bitcoin is trading steady at over $800 USD a piece, while early adopters can still secure Fanko for $1.37 at any of the major exchanges currently supporting Franko trading. This is a phenomenal increase in value of over 500% in just a week. Rarity is also intrinsic to the Franko protocol – with each block only yielding 0.25 FRK total. This ensures that Franko should retain and improve significantly in value over time.
With its unique founding principals of being fair, fast and rare, Franko is a wise choice for those looking to explore other emerging digital currencies beyond Bitcoin. Disruptive digital currencies are on the verge of a breakout, and it is coins like Franko, with its dedicated dev team and robust ecosystem, which are well positioned to bring huge benefits to both investors and end users.
Official Franko website: http://www.frankos.org/
Franko services and exchanges:
FRK on Twitter: https://twitter.com/FrankoCurrency
Name: Christopher Franko
For the technically minded here are the Franko (FRK) protocol details:
- Similar to Litecoin, Franko utilizes a Scrypt based cryptographic algorithm for proof of work.
- 30 second block target.
- Mining difficulty re targets 4 times per day.
- 0.25 FRK per block reward, halves every 22 million blocks.; approximately every 44 years. Halving the block reward, combined with Franko’s low block reward to begin with, ensures FRK is scarce, retaining and improving in value.
- Only 11,235,813 Franko will be minted in total.
This Press Release is for informational purposes only and should not be taken as investment advice. Please consult with your financial advisor before investing in SXC or any other digital currency.