Where is the white paper available?
What is JFinCoin token type?
JFinCoin is an ethereum-based token, which of course is ERC20 compliant. It ensures that JFinCoin can undergo interactions with various wallets, exchanges and smart contracts without any issues.
Is JFinCoin a Security or Utility token?
JFinCoin is a utility token*. Owner of JFinCoin has a opportunity to be part of the JFin BlockChain network that help verify and process transactions occurred in the ecosystem. JFinCoin is used as a fuel for the blockchain network.
* Based upon current understanding and subject to rules and regulations from BOT, SEC, and SET.
What is objective of JFinCoin Creation?
We created JFinCoin to be a backbone of the ecosystem where JFin blockchain network drives distributed peer-to-peer transactions. Decentralized Digital Lending Platform is the application of such a blockchain network .
What do we raise fund for?
We raise fund mainly for development of Decentralized Digital Lending Platform, including investing in its technologies. See Funds Allocation on whitepaper for details
Does JFinCoin use Proof-of-work technique for consensus mechanism?
No, we plan to use Proof-of-stake or Tendermint for consensus mechanism for benefit of energy savings and a safer network as attacks become more expensive.
Read more: Proof-of-work vs Proof-of-stake
Do miner get a block reward from mining block on blockchain?
No, there is no block reward, so, the miners take only the transaction fees. In this Proof-of-Stake system, miners are called forgers, instead. This way, the total amount of JFinCoin does not increase.