Ferrum network : The first interoperability network that facilitates unlimited transactions
With the introduction of the Blockchain concept to the world during 2008, it was something that helped strengthen the world’s first cryptocurrency, Bitcoin. Now is the highest price and the most innovative thing in this decade or decades to come. This has changed the way we view the currency as a whole.
What it does is return the power of say back to the user’s hands instead of lying in the hands of the service provider. This also brings increased layers of transparency and security. You might wonder why it took a long time to be introduced, seeing that the concept behind it was very simple and had been used many times before in other forms, methods, and methods in the physical world.
Immediately after the introduction of Bitcoin, the price jumped, many new coins, known as AltCoin (aka Alternate Cryptocurrency Coins), came to the market trying to offer or better the features and weaknesses that Bitcoin has. But Bitcoin remains the market leader because it has a first mover advantage, even though Bitcoin is starting to show its age in recent years with the introduction of many new and advanced coins which basically operate on the Blockchain but with many improved mechanics, still in control of the crypto market.
Another thing that is truly unique is the fact that Bitcoin and other cryptocurrency, which are still very young, have seen a number of crazy growth and have more space in the future. Many cryptos have increased in value thousands of times in a few days and weeks or months. This means that it is a truly volatile market where you can lose everything you put in overnight or get so much that you will never have to get a job paying for the rest of your life. This is the case for a decade or more since the cryptos was first introduced. But now, the market seems to be much more unstable, while maintaining a stable growth rate with a sudden surge, but not as drastic as before.
All of this caused the hustle and bustle of people to jump into the crypto buzz, many of them becoming beginners while many came from the common stock market and investment sector. While the latter have some kind of idea and knowledge of how to go in a turbulent and newborn market, the first, those who do not have prior knowledge usually end up with a loss. They will start learning after losing.
Introducing the Ferrum Network – the First High-Speed Interoperability Network for Real-World Financial Applications
About the Ferrum Network project
Ferrum Network, designed by distributed system experts with more than ten years of experience in the world’s largest technology company, was built to address two fundamental problems that hinder major cryptocurrency adoption: slow transaction speeds and lack of interoperability between networks.
Instead of building a standalone network, Ferrum Network utilizes the value of existing blockchain and connects it to a high-speed transaction layer that enables peer-to-peer transactions from any digital asset.
Like Lightning Network for each blockchain, Ferrum’s revolutionary technology unites networks, for consistently high-speed, low-cost transaction experience for each digital asset, both BTC, ETH, XRP, EOS, Zcash, and so on. He even works with fiat currencies. Focusing on lasers on user acquisition and global adoption, Ferrum Network has built a line of financial applications vertically integrated on the network, enabling users to buy, exchange, transact, and store any digital assets without the risk of opposing parties.
Imagine buying a cup of coffee with bitcoin and clearing transactions in milliseconds; exchange BTC with ETH through a decentralized high-speed cross-chain exchange; or sending digital fiat to users in parts of the world without third party brokers … all of which are possible with Ferrum Network.
FERRUM Network is a fast interconnectivity network specifically designed for decentralized economic applications. Network brings together Blocks and allows cheap and fast trading without taking over consumer assets.
This allows decentralized trade which is an order of magnitude faster and cheaper than other alternative presets. FERRUM Network is the first decentralized exchange that offers a centralized exchange experience along with modern functions such as small sales and margin trading features.
FERRUM Network Technology also enables consistent traders and retail experience for virtual asset payment solutions, and all other applications that are under initial development.
Solution to the problem
CryptoDiffer found Ferrum Network as a leading project in early June 2018 (June 5, 2018) and put it on radar. Now it’s no longer a “Stealth Mode” project and we can see it more deeply.
The main purpose
Ferrum Network creates a high-speed interoperability network for real-world financial applications. Ferrum aims to solve the real problem of cryptocurrency use in the traditional financial world: high and low cost transactions, no interoperability, use and difficulty understanding for newcomers.
The Ferrum Network will build a line of vertically integrated basic financial applications above the Ferrum Network that will allow users to buy, exchange, transact, and store any digital assets without the risk of the other party.
In simple words, the Ferrum Network will create layers and infrastructure that will allow customers to buy commodities or services using any digital currency in milliseconds without difficulty.
Network Ferrum The main idea
Interaction between chains, In general, what can be said is the main component of this project that makes this project unique. This is what allows the project to interact with all networks. The Ferrum Network is a new generation protocol that can easily connect to any network. The protocol that the developer ensures works on the network. There is never such a thing. And such a protocol unites all cryptocurrency networks into one. It doesn’t matter what your coins are. Use this project you will be able to interact with what you want. Dozens of unnecessary operations will go away after the network enters the market. I myself regularly face this problem. What interacts with other networks that I need to do dozens of operations. And it can be said to be very annoying.
High speed, low cost, high speed – the protocol runs on the network. No matter which coin you will send Bitcoin or ETH. You will have an identical, stable operating speed. Are you saying Bitcoin has a low transaction rate? Please have a project that makes the speed the same. Also, talk about network costs. As you already understand, this is not a blockchain. And mining fees will not be requested from you. And that means we will get a new price for our transaction. It will be much cheaper. Where gas will be a FRM project token. Well, that’s why we’re all used to anything that’s free.
Integrated line of financial products, like other networks. Networks need financial tools. And this project has developed these products. They have given us information about product development. This will be a digital currency exchange where you can work with real money. And digital currency wallet. It is also written that the wallet will allow us to be outside the exchange trade. In general, this project handles product lines that will allow us to easily interact with this network. Based on the first few points, I can imagine how comfortable it is to use one wallet for all coins. And do fast transactions.
FERRUM Network Features
High Speed and Low Cost – P2P (peer-to-peer) trading that confirms in milliseconds for about one cent in network costs.
Cross-Chain Interoperability – the next gene protocol designed to be attached to all chain-blocks.
Launch with consumers and Network Utilities – real users, real products, proven business practices.
The integrated Financial Products range – exchange, buy, transact, and store all electricity assets using sophisticated financial applications that run on the network
Benefits of the Ferrum Network
The Ferrum network will be a kind of exchange where users can easily manage their assets by buying and selling one coin for other coins, regardless of which blockchain they are made. All ferrum payment gateways are intended to provide the highest speed and low cost. Which will thus lead to a more efficient decentralization exchange throughout the cryptographic world.
Adding to Ferrum trading will be UniFyre built in cellphone wallets with subsidiary branches in the form of SebZero hardware wallets, as a result of these technical indicators they are considered to be one of the most reliable and best hardware wallets today.
Likewise, to improve the reliability and security of all exchange processes, iron network engineers will use their own internal markers on the blockchain, with all the functions of trading one cryptocurrency with another to be carried out. The whole process aims to eliminate all fraudulent activities by participants. point only at taking deceptive movements with respect to members. All operations will run quickly and quickly, to make sure the user does not find a division of tasks.
The technology used by FERRUM Network
Innovative technology built for high-speed P2P trading from any virtual asset is the backbone of FERRUM Network and its products.
DAG ledger: D-ledger that is the same as a block but is specifically designed for fast trading, minimal network costs and no miners.
Network Interoperability: super innovation on cross-chain solutions, platforms can operate with each block.
Decentralized Proxy Tokens (DPT): DPT with guaranteed stability allows trading, exchanging any virtual assets including virtual money.
High Frequency Trading: Original helps move money from the chain and makes extreme frequency transactions and trades nominal fees.
FRM Tokens: Project gas, FRM is spent & burned for every trade on the network.
Value of Import / Export: The FERRUM network is designed to import and export values, including fiat money.
As I wrote earlier, to implement all types of cryptocurrency transactions on FERRUM NETWORK, the internal FRM token will be available, which will make it possible to make all transactions quickly, with minimal costs and the most reliable way. It is important to note that FRM conversions will be available for digital currencies and Fiat. Using FRM is easy and accessible.
According to the road map, the Ferrum Network has been released:
Blockchain Testnet with BTC, ETH, ERC-20, XRP exchanges
Kudi Exchange (mainnet)
Official information from the project founding team:
White Paper: https://drive.google.com/file/d/1chjmvP_Gmj6n9IeV4mGV_BBjY0hCSV9V/view
In the topic: https://bitcointalk.org/index.php?topic=5134952
Author: Joseph cristian
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2122240