Blockchain rising star from Asia, FiiiLab Ltd launched the world’s first truly mobile mining algorithm, the Delegated Proof of Capacity (DPoC) method in America. The company made the announcement via a television interview in New York with Nasdaq Stock Exchange.
“The DPoC concept of FiiiCOIN originated from the PoC concept of Burst Coin. FiiiLab is able to improve it further by re-writing the codes in C#, to make DPoC more stable, more energy efficient and secure. The algorithm is also a fairer consensus mechanism, and it is developed for mobile mining.” Explained FiiiLab CTO and co-founder Sylvester to Nasdaq senior reporter Jane King.
“DPoC works in conjunction with the available storage space of a hard disk, SSD, SD card or any flash storage devices. The miner will first estimate the hash rate. Different devices and accounts will have its own unique hash rate. The more storage available on a device, the higher the hash rate, thus, the higher the chance of completing the mining block. A miner is always fighting with time, to be the first to determine the hash value, complete a block and collect the reward. With this algorithm, the IOPS of the storage device is the key factor, and no longer rely on the processing power of the CPU. DPoC is more energy efficient, and thus more environmentally friendly compared to the PoW algorithm of Bitcoin. Moreover, mobile mining is the way forward, fitting for the mobile lifestyle of the 21st century.” further explained Sylvester.
FiiiPOS is slated to launch the FiiiCOIN DPoC mining function before the 4th quarter of this year, while the mining function will be rolled out to FiiiPAY wallet users by 2nd quarter of 2019.
“FiiiCOIN, as a Utility Token, with the compatibility build within FiiiPOS, forms a healthy blockchain ecosystem. FiiiLab is building this ecosystem by collaborating with more blockchain companies, and FiiiPOS is targeted to integrate with more than 1500 cryptocurrency within the next 24 months. It is hoped that this will help the FiiiPOS terminals penetrate and sweep the consumer market.” shared FiiiLab founder and CSO Joey.
“In order to have the other 99% of non-cryptocurrency users adopt Bitcoin or other cryptocurrencies, do not confine them to only speculative investment. The easiest way to make it happen is to treat your friend coffee using Bitcoin.” he further adds.
FiiiGROUP comprises a dynamic mix of tech arms, each specialising in a dedicated area of expertise yet working collaboratively towards a common vision.
The FiiiGROUP vision is Blockchain for Everyone Everyone for Blockchain.
Cryptocurrencies are still largely perceived as “too volatile”, “too complicated” or “something for high-end users only” by the average user. FiiiCOIN was developed with the aim of changing this perception altogether by making cryptocurrencies tremendously user-friendly and accessible to users from all backgrounds.
It is our vision to forge a uniquely user-centric Blockchain ecosystem where data, funds, and information, in general, can be shared seamlessly and securely while at the same time thoroughly simplify the participation criteria to pave the way for total participation in the Blockchain ecosystem.
In essence, it is our ultimate vision to build a Blockchain ecosystem not only for a select few users, but for every single user out there.
A Blockchain for Everyone.
For more information, please visit the link below: Official Website
Get your copy of What is Bitcoin
This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital, not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.