Cryptocurrency is yet in its initial stages, it has not reached a state where it can be believed that there is anything that is constant about this market. It is a completely unconventional market which is yet to come up with its own rules. It is therefore necessary to understand that there is something that can be learnt about the market through the means of the booms and slumps which are taking place. There are a lot of examples in the market of the investors who might have something to say about the changes which are overtaking the market.
An example of such an investor is Pete Roberts; he is from Nottingham, England. He had invested an immense amount in the cryptocurrency at a time when cryptocurrency was in its booming phases, however, lately, when the prices have gone down drastically, it has left Roberts with an astoundingly meager sum of money. In an interview, he had stated that he had been too quick in investing in cryptocurrency, specifically, because there was a chance that he thought more money could be made through it. However, following the slump, his economical situation is in tatters. It is not just Roberts; there are several other people across the world that would be going through the similar situation right now. This is because there can be noticed a significant decrease in the prices of several currencies at a time. Several currencies have lost all that they had earned the previous winter.
The hard truth of the slump faced by crypto markets is that even though the markets will recover, it is the reputation of cryptocurrency that has taken a severe toll. There were already a lot of suspicions in the market regarding influence of cryptocurrency and now that the values of several cryptocurrencies have declined, it can be believed that they would now be associated with arbitrariness and financial decline. It is also necessary to understand that how exactly the markets and the investors have come to this stage. So many investors had invested when cryptocurrency was at its peak, when it was doing well, however, in the recent times; these investors have realized that the condition in the market will rarely ever be stable. It is for this reason that they no longer have faith in cryptocurrency markets. It is yet to be determined just how many people have suffered in the sector and what are the inferences that all of them have been drawing from the changes in the market. What can be believed for sure is that the reputation of cryptocurrency has taken a toll and the investors might think twice before undertaking any venture at this point of time.
China based FCoin which is one of the renowned cryptocurrency exchanges is changing the dynamics of the industry by introducing its most rewarding model called Trans-FeeMining with the revenue distribution function in place. It became fully operational for trading in May this year.
Trans-Fee Mining model through its unique feature in place has attracted numerous users. At a time of introduction, FCoin issued its coreTokens – ERC20 (approximately 10billion FTs) out of which 51% expected to be mined through Trans-Fee Mining mechanism in place. Technically, Trans-Fee Mining model is so apt that users can get FTs when they get their transaction fees. With this, numerous users execute the incremental amount of transactions in order to get more FTs. This, in turn, increases the liquidity and trading capacity of the platform. Those who have FTs they can receive the proportion of FCoin’s revenue estimated to be 80% of the daily revenue from the transaction fee.
As per the valid source from CoinMarketCap, FCoin’s was the first global exchange in terms of trading volume. Besides FCoin, the other cryptocurrency exchanges started using “Trans-FeeMining with Revenue Distribution Systems in place. The Founder of FCoin, Zhang Jian analyzes the whole scenario as a Test-Run of a Token Economy. Further, he considers a token (as an invention on par with the building company system) a certificate of value estimated on the blockchain which is an invention. He further explains that each economic entity can be tokenized through the blockchain technology in place.
Just in July this year, FCoin introduced its Tokenization Experimental Zone that focuses to tokenize the traditional industry, big internet platforms, innovative global projects well balanced on Token Economics. Needless to say that Token Economics powered by the FCoin will change the traditional economics while utilizing blockchain technology that streamlines them through the tokenization process.
Let us not forget that every story has a big start. When the FCoin introduced the value-added model “Trans-FeeMining” with Revenue Distribution in place is run by the industry veteran Zhang Jian who was the Chief Technology Officer of Huobi which is one of the renowned Chinese Cryptocurrency Exchanges. He has written the book on Blockchain naming “Blockchain: Defining the Future of Finance and Economics” which was the best one amongst the financial books on JD.com which is the biggest China’s e-commercial platforms.