FCoin, Chinese Cryptocurrency Exchange, Changes Its Industry
Growing and developing in China, the FCoin currency exchange is changing the industry with its innovative model of “Trans-Fee Mining” and income distribution.
At the end of May this year, FCoin currency exchange opened its official auction. Its distinctive model of “Trans-Fee Mining” rapidly obtained fame and attracted a huge number of users.
At the early stage FCoin group released its ERC20 tokens -FT (10 billion), 51% of which will be mined through the mechanism of “Trans-Fee Mining”.
The aforementioned “Trans-Fee Mining” is the mechanism by which the platform returns user’s operating fees for the next day in the form of FT. To get more FT, some holders often make transactions, which, therefore, increases FCoin’s trading opportunities and improves its liquidity. Meanwhile, FT holders can also receive part of the FCoin revenue.
According to CoinMarketCap, trading volume of FCoin at some point ranked first in the global exchange industry. Shortly thereafter, other cryptocurrency exchanges started using “Trans-Fee Mining” and income distribution systems. “Trans-Fee Mining” becomes an integral part of the exchange business.
In early July, FCoin launched the Tokenization pilot zone. This zone focuses on the tokenization of large Internet platforms, traditional industry and innovative global projects focused on the Token economy.