Ferrum Network Investment Review – Blockchain Paper
With SubZero Wallet you can store your digital assets with the most accessible, simple and secure cold storage application. It is a mobile cold-storage for your digital assets using an offline Android phone secured by military-grade technology. The Sub-Zero Wallet is simple, low-cost, secure and mobile thus empowering millions around the world to take control of their digital assets.
The Ferrum Network Token Economics: All UniFyre Wallet transactions including deposits, withdrawals, OTC trades, and market trades – require a nominal amount of FRM tokens be spent and burned.
Bitcoin is not as successful as it was expected to be because of its low speed of transaction and risk of losing it in the accidentally wrong transactions.
Ferrum Network Ecosystem aims to provide a solution to all the problems that currently cryptocurrency ecosystem is facing and the reason why it has not been adopted as expected. Ferrum Network offers speed, security, and the ability to transact in Crypto and local currency. It removes middlemen from OTC trades and enables peer-to-peer transactions with no counterparty risk through novel features like requiring counterparties to accept a transaction before it is executed. The main advantage that we can recover from accidental loss is huge and will attract many consumers in the future.
With Kudi Business, sellers and buyers are empowered with the means to engage in secure, lightning-fast transactions, retailers do not need to pay exorbitant bank fees for P.O.S. systems that are barely functional. At the same time, buyers have in their possession
a tool with all the advantages of mobile money. The Kudi Business maintains a secure record of all purchases and allows consumers to reject disputed or unrecognized charges.
All UniFyre Wallet transactions run on top of the Ferrum Network’s high-speed DAG-based interoperability network, enabling peer-to-peer transactions of any digital asset in milliseconds for near-zero network fees.
The UniFyre Wallet seamlessly connects to the Infinity DEX and Sub-Zero Wallet, so users can now easily exchange, transact and store their digital assets using a single ecosystem.
The Sub-Zero Wallet solves two major problems that cold-storage market is facing that is accessibility and cost. For the first time, anyone in the world can turn an old Android phone into the most secure and mobile cold-storage solution. The app is free, only a small amount of Ferrum Network utility tokens are required to activate the wallet.
About Working Of Ferrum Network: When you (a user) send coins to the Ferrum network from for example Bitcoin network Ferrum creates a unique Bitcoin address for you called the “lock address”. No one in the world can see private keys for the lock address. Instead, the private key is created in distributed nodes within and around the Ferrum Network. When Bitcoin arrives at your locked address, the same amount of Bitcoin is generated in the Ferrum Network.
Users can then spend, exchange, and use the Bitcoin in the Ferrum network, enjoying its high speed and low fees.
Holders of Bitcoin (BTC)s in the Ferrum Network can at any time destroy their proxy Bitcoin (BTC)s and get an identical amount of Bitcoin (BTC)s in the main Bitcoin network.
A user only has to request that the network unlock the same amount of Bitcoin (BTC)s from the originally locked account, and present the proof of destroyed Ferrum Bitcoin (BTC)s. In practice, this happens with the click of a button in the Fe Wallet.
Functionally Ferrum is quite similar to the most popular centralized exchanges such as Binance and Coinbase. But the major difference is that it is “decentralized”. This is a very important distinction as it means Ferrum will never hold custody of the user’s assets at any time. On the other hand, when a User uses a centralized exchange such as Binance, he gives them access to all of his assets (private key) and trusts them to protect it. However, when you use Ferrum, you keep your private keys and Ferrum Exchange never holds any of your assets.
In comparison with other decentralized exchanges such as IDEX, Ferrum is interoperable, meaning it is blockchain agnostic and effectively enables cross-chain transactions, but all within one network. In practical terms, this means Ferrum is not limited to ERC-20 tokens and users can exchange a wide range of digital currencies.
Moreover, it is much faster and cheaper than existing DEXs. This is because the Ferrum Network is much faster than the Ethereum network, which is the foundation of most other decentralized exchanges.
Ferrum staking is similar to a saving account and offers time-based returns on staking duration. FRM Staking is unique in different ways such as early withdrawal, forfeited or redistributed rewards, option to withdraw early or stake till maturity, additional rewards for full maturity.
Requirements for staking are as follows:
Metamask: FRM Staking requires the ERC-20 wallet extension Metamask that will automatically link to FRM staking contracts. This is the wallet you will contribute from and where rewards will be distributed upon withdrawal.
5000 FRM Minimum: minimum amount to stake is 5000 FRM.
There are three types of staking pools
1.Gold (shortest)
2.Platinum (medium)
3.Diamond (longest)
The team is comprised of seasoned veterans and the advisory board is well versed and experienced in a position to take Ferrum for a successful ride. The co-founders and senior executives have a wide range of experience both technical and legal in nature. This protects the Ferrum network from all the sides as legal protection and safeguards are very important specifically for a blockchain startup that handles user’s funds directly or indirectly.
Eterbase Listing: With the latest news of Ferrum Network Token (FRM) listing on Eterbase (EU’s Leading regulatory-compliant Exchange) with its Treasury Gateway, the Ferrum Network project and FRM community is going to be benefitted immensely. Eterbase offers many benefits to the Ferrum community, such as Free listing on Eterbase exchange and corporate payment account at majestic.eu , Free volume provision on Eterbase of up to $20K daily volume on FRM token, Future option for an FRM/EURO pair and many more. Community Rewards are being offered as a way to give back and promote the listing. A EURO pair enables European investors to buy FRM and opens a new wide of investor exposure for the Ferrum network.
The immediate challenge I see are:
- Execution
- Marketing
- Growth/Scaling
As with most business projects especially in crypto, time and deliverables can pose an issue. The team at Ferrum Network is well-seasoned and may not have any issues, but it must be said, that executing on their road map and fulfilling on the timelines could be a potential challenge with a lot of projects to work and deliver on.
Gaining mass user adoption is a challenge with any business, let alone in the crypto space. I am quite confident in the plan set forth by the team but at the same time making your project being discovered and appreciated in the crypto industry takes time and only constant endurance and perseverance can help the team to accomplish their goals. The team is made of big dreamers and they are working towards achieving the same but big dreams take big efforts to accomplish the same.
Ferrum Network can easily become the leader in this space. As the interest in DLT/Blockchain technology increases many brick and mortar companies will find themselves far behind the curve, anxious to make up for the lost time they will call on the leaders in the sector, one such leader will be, Ferrum Network can be a leader if it pivots itself properly.
This could pose a challenge for Ferrum Network with the sudden demand and Ferrum might not be ready for the onslaught of new customers. Thus the team needs to be ready for the same.
In conclusion, Ferrum Network is well-positioned to be a dominant force in its sector. A few challenges for the team are marketing and creating a space for itself with proper execution and fulfillment of its goal and objectives. The team is comprised of seasoned veterans and the advisory board is well versed and experienced.
The list of strategic partnerships that Ferrum Network has assembled in just a short period of time from its inception is quite impressive. I see Ferrum Network as having a “durable competitive advantage”, which is essentially the ability to be the dominant market force in its particular sector/offering. As DLT/blockchain technology gains more traction, Ferrum Network may very well be sought after as more and more brick and mortar companies scramble to catch up to its development and progress. With a good execution and marketing plan, the team can increase its base in Africa and start banking the unbanked. Favorable legislations are also a challenge for the team as they would have to steer clear of the same in order to win in Africa.
Ferrum Network is a technology that I see being here for some time.
Published at Sun, 01 Dec 2019 09:53:40 +0000
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