FastCoin, as the name indicates, is the fastest digital currency in the blockchain network as of today. FastCoin has improved upon the Bitcoin features in speed, security etc. It was initiated in the May 2013. This cryptocoin empowers its users to transfer money from any location to anyone at any location in a quick and secure manner.
Popularly termed as FST in the trading world, FastCoin improves upon the speed of Bitcoin in an amazing way. It takes 12 seconds to confirm and completes a transaction in just 48 seconds. On the contrary, Bitcoin takes over 10 minutes transaction block time.
FST is a totally decentralized, peer to peer, blockchain based digital currency. Its popularity can be gauged by the increase in traffic to its website since the past few months. FastCoin is based in Toronto, Canada. The coin is backed by a team of 10 highly qualified developers and has the support of enthusiasts from across the world. It has more than 10,000 followers on its Twitter account and the number is increasing daily.
FastCoin adopts the Proof of Work(PoW) and the Scrypt algorithm and has fixed 165,888,000 FastCoins as maximum limit. Currently, the reward for each block is set at 32 FST. It takes 12 seconds to build new blocks. It requires 4 confirmations to complete a transaction. The difficulty level is adjusted every 300 blocks and the reward is halved annually.
With is fast and secure transaction speed, FastCoin is targeting the mobile space and offers a variety of wallets for the users to choose from. The wallets are available in Windows, Linux, and Mac operating system. Due to its fast transaction speed, merchants are offered tangible benefits to accept FST as a mode of payment. Like in every case, it is recommended that mining is more lucrative and faster if a person joins a mining pool rather than mine independently. Pooled mining gives better opportunities of accumulating FST.
With a strong social media presence, increasing number of users, and an efficient team of developers, FST has high probabilities of success. There is a FastCoin calculator that gives an estimate of one’s expected earnings per day, month and year depending on the hours put in. The cryptocurrency has the potential to perform and overshoot the other popular digital currencies. One cannot foresee how the markets may behave in the future so the estimates are calculated based on the existing trends.
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