The Folm Coin is said to be the payment key for the future of the world. There are already a ton of ICOs similar to Folm. And the creators actually point this out, but they follow with the overzealous statement, “but don’t forget that only one of them will unlock the future of payments.”
Well, that sounds great and it would be if it was true or at least backed up with some verifiable data leading to why that statement is true. Too bad for Folm, the website doesn’t have any of that. There is no reason from what I can see on the Folm page to even indulge them any further with their reasoning. As far as I can tell from looking at the site, they are mediocre at best, potentially a fraud at worst.
What Is Folm Coin?
Like I said, Folm doesn’t seam to be anything special. They’re essentially an open sourced and decentralized digital cryptocurrency that is built on blockchain tech. Any users can easily setup their own servers and become a part of the network. The Folm token is a resource friendly virtual cryptocurrency. Its based on the approval system of the Masternode that coincides with the PHL1612 Algorithm.
The PHL1215 Crypto Algorithm is known to be one of the best algorithms ever written for the purpose of encryption. It was written by combining two other algorithms together into one, the Gost and Echo Crypto Algorithms.
And not like other algorithms based on encryption, GPU resources are reserved when one algorithm for encryption is developed from the mixing of two others. What that means is less electricity consumption, combined with cooler running hardware. The setup is generally seen as being more user/resource friendly while at the same time keeping security absolutely tight.
As for the Masternode, it’s a powerful part of the network at FOLM. It consists of computers that operate 24 hours a day while running a FOLM wallet with a multitude of functions enabled such as sorting any mixed-up coins. Other operations could include something like locking transactions with InstantSend or placing a vote on budget funding.
A true Masternode requires a user to have 5,000 FOLM as collateral, a dedicated IP address, and the capability to operate a hardware setup 24-hours a day without more than 1 hr. of total time disconnected from the platform.
The two components (PHL11216 Algorithm & Masternodes) together make the system superb to most other systems similar in nature to FOLM. They also give the network some great benefits, such as:
- Money transfers that are nearly instant and have total anonymity
- The ability to earn money while you sleep, thanks to the Masternode
- A reward system that is unique and profitable, easy to benefit from no matter your level of experience
- Mining operations that require far less resources, I.E. energy & heat
The team is said to be one of the best at development and marketing. And with the crypto friendly algorithm, and Masternode based network infrastructure, there is a lot of potential for innovation. The company promises the technology ensures a high return on investment for Masternodes and miners. The team has also used their advanced knowledge and skill to apparently “purify” some of the bugs found within the blockchain.
About Folm Coin ICO
The ICO for the company has a difficulty rating of 2622.0865693 and 129 Masternodes. The network runs at 77.563380232 GH/s. Each FOLM Token cost 0.00002845 BTC with a total supply being 3,453,638 all hoped to be stored in a collection of 8697 wallets on the network.
Who Is Behind Folm Coin?
There is no information on the team at FOLM. There is also no information on who the founder or founders are, and any information on the location of the company’s headquarters is missing as well. So, after all the hype detailed information and specs, they fail in my book because a lack of transparency. For all you know, I created FOLM and for all I know, you did. My point is that it’s never safe to send a somewhat untraceable cryptocurrency to a completely anonymous entity online.
Folm Coin In Conclusion
The concept of FOLM is great, it all sounds good – but also could be a lot of smoke and mirrors considering there’s really not all that much info on how their tech will do what they claim it will. And without an overview of the team, complete with names, bios, and verifiable LinkedIn accounts – plus no company headquarter location, FOLM is a dangerous investment that should be watched for the time being, but not invested into until we know who they are.