Fibercoin – Fast Blockchain Cash is an open-source, blockchain-based cryptocurrency that aims to provide users with fast transactions, low fees, high network decentralization, and a simple, secure, private, and stable digital transaction experience. It was launched to address the needs of small investors who get caught up in the waves and frenzy created by the huge investors. The Fibercoin project aims to be a consistently profitable long-term cryptocurrency project, offering a real, authentic, and tangible business project in a world of unreal, intangible, and virtual currencies.
Fibercoin uses a combination of Masternodes and Proof of Stake (PoS) consensus algorithms to secure its network. The first few blocks were generated by Proof of Work Quark Algorithm, and further generation of new blocks is done by Masternodes with PoS Algorithm. A total of 10,000 FBC is required to run a Masternode, while the minimum stake age has been set to 5 hours.
Fibercoin's development team will develop different projects that use the implementation of Fibercoin as payment for various services. The project proposals will be voted on by community members, and the highest voted project ideas will then go into the funding stages and start the process by the development team. Projects will run separately from Fibercoin itself and generate profit like any normal business. The Fibercoin project parts will be decentralized and markets where the community will determine the price.
Fibercoin is a fork of the PIVX codebase, and as a PoS cryptocurrency, it is significantly better for the environment than PoW-focused cryptocurrencies due to its lower energy consumption requirements.
Briefly Fibercoin Specification
Coin Name
Fibercoin
Coin Ticker
FBC
Consensus mechanism
Masternode/PoS
Masternode Collateral
10,000 FBC
Block reward
4-33 FBC
Masternode reward
70%-90%
PoS reward
10%-30%
Minimum Stake Age
5 hours
Block spacing
4 minutes
Difficulty Retargeting
Every 40 minutes
Premine
2,100,000 (2,1 million) FBC
Total supply
21,000,000 (21 million) FBC
RPC Port
33114
P2P/MN port
30114
Reward Distribution Structure
Genesis Block
Block Height
Reward Amount
1
2,100,000 FBC
PoW Phase
Block Height
Reward Amount
2-200
4 FBC
Masternode/PoS Rewards Breakdown
Phase
Block Height
Total Reward
Masternodes
PoS
Phase 1
201-50,000
4 FBC
70% (2.80 FBC)
30% (1.20 FBC)
Phase 2
50,001-100,000
6 FBC
71% (4.26 FBC)
29% (1.74 FBC)
Phase 3
100,001-150,000
8 FBC
72% (5.76 FBC)
28% (2.24 FBC)
Phase 4
150,001-200,000
10 FBC
73% (7.30 FBC)
27% (2.70 FBC)
Phase 5
200,001-250,000
12 FBC
74% (8.88 FBC)
26% (3.12 FBC)
Phase 6
250,001-300,000
14 FBC
75% (10.50 FBC)
25% (3.50 FBC)
Phase 7
300,001-350,000
16 FBC
76% (12.16 FBC)
24% (3.84 FBC)
Phase 8
350,001-400,000
18 FBC
77% (13.86 FBC)
23% (4.14 FBC)
Phase 9
400,001-450,000
20 FBC
78% (15.60 FBC)
22% (4.40 FBC)
Phase 10
450,001-500,000
22 FBC
79% (17.38 FBC)
21% (4.62 FBC)
Phase 11
500,001-550,000
24 FBC
80% (19.20 FBC)
20% (4.80 FBC)
Phase 12
550,001-600,000
23 FBC
81% (18.63 FBC)
19% (4.37 FBC)
Phase 13
600,001-650,000
22 FBC
82% (18.04 FBC)
18% (3.96 FBC)
Phase 14
650,001-700,000
21 FBC
83% (17.43 FBC)
17% (3.57 FBC)
Phase 15
700,001-750,000
20 FBC
84% (16.80 FBC)
16% (3.20 FBC)
Phase 16
750,001-800,000
19 FBC
85% (16.15 FBC)
15% (2.85 FBC)
Phase 17
800,001-850,000
18 FBC
86% (15.48 FBC)
14% (2.52 FBC)
Phase 18
850,001-900,000
17 FBC
87% (14.79 FBC)
13% (2.21 FBC)
Phase 19
900,001-950,000
16 FBC
88% (14.08 FBC)
12% (1.92 FBC)
Phase 20
950,001- ∞
15 FBC
90% (13.50 FBC)
10% (1.50 FBC)
Superblock Algorithm
Condition
In every 10,000 blocks, 33 FBC will be awarded to 33 blocks