What Is Ferrum Network (FRM)?

Ferrum Network is a project focused on cryptocurrency decentralization. The network was launched by a team of crypto industry experts in June 2019. The project’s goal is to combine various benefits of blockchain decentralization into a single network. This merging of technologies aims to facilitate the mainstream adoption of cryptocurrencies on a global scale.

By leveraging the best qualities of existing networks in a high-speed transaction layer, Ferrum Network presents an alternative method for validating and expediting activity between users. According to the official whitepaper, Ferrum Network aims to become a next-generation, high-speed interoperability network.

Who Are the Founders of Ferrum Network?

Ferrum Network was founded by a team of experts with a long-standing professional history in engineering and blockchain technology.

Naiem Yeganeh is a co-founder and CEO of Ferrum Network. He graduated from the University of Queensland and began a career in software engineering in 2013.

Yeganeh also founded Maad Afrooz Technology and has worked for the big tech companies Microsoft and Amazon. His last position before founding Ferrum Network was as core machine learning expert for Bloomberg LP.

Ian Friend is another co-founder of Ferrum Network and now serves as its chief operating officer. He has a degree in business law from the New York Law School and was an associate attorney for several big firms, including Pantano & Gupta and Wilson Elser.

Friend also serves as a strategic advisor for Poolz and Project Inverse. Since 2018, he has left his active duties as an attorney and turned his full attention toward the Ferrum Network.

What Makes Ferrum Network Unique?

Ferrum Network is a project that aims to boost the use of cryptocurrencies in everyday life by delivering comprehensive solutions. The company’s goal is to make cryptocurrencies accessible to non-professionals and help make digital assets the world’s new money.

According to its founders, Ferrum Network’s mission is to make it possible for people to make cryptocurrency transactions at lightning speed, as its blockchain is designed to carry out transactions of any size in a matter of milliseconds.

The company is trying to leverage the decentralization features of blockchain technology to eliminate the need for third-party intermediaries. This reduces the number of fees customers have to pay for transactions and boosts privacy and data protection for both the senders and the receivers.

The platform also allows developers to design decentralized applications (DApps).

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How Many Ferrum Network (FRM) Coins Are There in Circulation?

Ferrum Network (FRM) tokens are essential for the functioning of the underlying blockchain. There is a maximum supply of 331,718,750 tokens, of which 329,218,749 have already been issued as of February 2021. The amount of tokens in active circulation is about 147,528,487 FRM.

There were two initial private sales, which consisted of about 15% of all FRM tokens. Another 22% were allocated to the Ferrum Network ecosystem. Founders and other essential team members received about 10% of the maximum token supply. Another 15% of FRM tokens were allocated to the marketing growth pool. The rest of the minted tokens have been distributed toward other essential goals, like the network incentivization pool.

How Is the Ferrum Network Secured?

As Ferrum Network is Ethereum-based, the FRM are ERC-20 tokens, meaning that there is some level of proof-of-stake (PoS) capability integrated into the blockchain.

Through the utilization of directed acyclic graph (DAG) ledger technology, the Ferrum Network also employs a proof-of-burn (PoB) consensus. This makes the network highly versatile and allows customers to use and purchase a number of different cryptocurrency tokens. Combining several consensus methods gives users the ability to benefit from the corresponding advantages of the underlying blockchain technologies.

Where Can You Buy Ferrum Network (FRM)?

FRM tokens can be purchased on several exchanges, such as:

BitMax
KuCoin
Uniswap (V2)

It is important to note that trading cryptocurrency comes with risk, just like any other investment.

Read more about buying crypto

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