What is FastCash?
FastCash is a digital currency launched and distributed by airdrop for 12 hours on August 26, 2016.
During the airdrop, the coin was met with unprecedented community demand, and ran out before the 12 hour timer ended. FastCash is a token that will be used on the FastNetwork decentralized service marketplace as a medium of exchange for basic network tasks.
It remains as an inflation vehicle on the main network, accruing around 100% interest per annum. It also is the collateral currency that will be required to run a node on the FastNetwork. FastCash has a low initial supply of 780,000 coins.
What is the FastNetwork?
The FastNetwork ecosystem is a parallel secondary network to the main FastCash network. This system will initially be built with a few functions that will allow it to serve as a very basic decentralized service marketplace with a backing node network allowing all functions to be performed with no central server or entity.
The decentralized service marketplace will allow basic network tasks to be bought and sold, such as hosting, exchange of digital assets, advertisement space, as well as data mining on other alternate currency networks.
The main incentive for hosting nodes will be service fees accrued from active service contracts. Secondary node incentives will include Hi-PoS rewards only available to node owners, while the main network will remain at a percentage inflation. Node owners will be required to manage a set collateral of FastCash to be accepted by the main network. Upon initial release, the FastNetwork system is planned to begin with a decentralized digital asset exchange and advertising.
Full details will be revealed in the whitepaper.
Specifications
780,000 coins
100% premine, distributed through Bitcointalk airdrop
64 second blocks
1 coin per block for 10,000 blocks (Scrypt PoW)
100% PoS/year
1 hour minimum age for staking
Coinbase maturity 20 blocks
Transaction confirmations 3 blocks
