About Ferrite Core
From page 3 of Ferrite Core Whitepaper - under review
Design Of Ferrite
- Utilitarian.
Common metal intended to be used as "bad money" under Gresham's Law.
- Cheap. Low value allows for cheap entry.
Ferrite is to Litecoin's silver and Bitcoin's gold.
- Plentiful yet rare supply.
Total supply is 60.22m which is ~3x larger than Bitcoin's 21m but smaller than Litecoin's 84m.
- Practical.
Block time where block latency is negligible yet transactions are confirmed fast.
Why create another altcoin?
- Most coins have overly inflated prices and therefore a high barrier to entry.
- A desire to create a faster, better coin which addresses the challenges brought about by low confirmation times.
- To learn and experiment with cryptocurrency without worrying about the finances.
- To create another coin with a fair start and zero premine.
How is funding raised without a premine/instamine? What is in it for you?
- A premine/instamine is not necessary to obtain a large holding. As the first person to start this coin, I have the benefit of being the earliest to collect coins while the cost is low at an early stage.
- A 1% stake in circulating supply could be obtained for $20 since Nov 2022 as of now (17 Mar 2023). When a coin is newly listed, most users will sell their coins to obtain revenue, reducing the price. A large stash can then be obtained without resorting to premining.
References: Gresham's law – economics. Encyclopædia Britannica. Retrieved 11 Nov 2022. Litecoin Whitepaper. Litecoin Foundation. Retrieved 11 Nov 2022. "Gresham's Law". Investopedia (8 Feb 2023), Robert C. Kelly. Retrieved 14 Nov 2022.
