As thousands of digital assets exist across hundreds of separate blockchains. Bitcoin, Ethereum, and Ripple are all examples of major digital currencies with their own unique use cases. The ecosystem benefits from a wide variety of networks, tokens, and projects, all aiming to build a fairer, more inclusive world.
Nevertheless, a fundamental issue remains – how to enable communication, transaction, and exchange across hundreds of separate and distinct networks? In other words, how can we enable countless blockchains to operate together?
Enter Ferrum Network. Ferrum is a tech platform formed by a company called Ferrum Network that engaged in blockchain and trading using cryptocurrency. Ferrum Network supports financial applications such as fiat gateway and non-custodial wallet designed to allow millions of people around the world by giving them control of their own assets.
Built on a Directed-Acyclic Graph (DAG) network, Ferrum has intrinsic advantages over traditional blockchains in terms of speed, cost, and scalability. It’s like the Lightning Network, but for every blockchain. By utilizing Ferrum’s innovative technology to securely import and export value across chains, users can deposit any asset into Ferrum Network creating a proxy token that can be transacted and exchanged using the UniFyre Wallet or other forthcoming exchange products.
Working Products With Users
Ferrum’s current product line that runs on the Ferrum Network called First Kudi formally Kudi Exchange. Exchange through this feature is not just about supporting digital currencies but also for fiat currencies. Exchange of both can be done practically through Kudi Exchange and the process will take place quickly. Exchange values are adjusted to the standard values that apply when the exchange takes place.
Ferrum Network runs on its native token, the Ferrum Token (FRM) as the gas of the network. As a true utility token, the FRM is necessary to prevent malicious actors from spamming the network and to present proof to the network in order to run transactions. It is also used to increase transaction speeds, activate the Sub-Zero Wallet, reduce fees on the Infinity DEX, import, and export value to and from the network, among other functions. Lastly, all transactions on the Ferrum Network require a small amount of FRM to be spent.
Ferrum also built its own flexible staking mechanism for ERC-20 tokens. They have a unique smart contract that allows users to grow their FRM trough a unique staking pool mechanism. Honest Mining is one of Ferrum staking partners that will provide HM Staking Pool with an interesting reward structure for all users and FRM hodler.
Market Opportunity and Competitive advantage
Each of Ferrum products has its own potential market base and market opportunity. Their fiat gateway + payments app Kudi Exchange was launched first in Nigeria, a country with 200 million people, the 7th highest BTC volumes in the world, and 1st in Google searches for “Bitcoin”. Ferrum is expanding Kudi to other African countries, such as Ghana, in the coming months.
UniFyre Wallet is a non-custodial wallet that means Ferrum can launch it worldwide, including China through Chinese version. The same goes for cold-storage application Sub-Zero Wallet, to be released in 2020. Similarly, Ferrum other products have a strong competitive advantage because they run on a high-speed cross-chain network and can, therefore, implement unique functions like the staking of any token.
Ferrum is optimistic about its project and so do us. Honest Mining is offering all of you to be part of the Ferrum ecosystem by staking FRM on our platform. Let’s be a part of this growing blockchain and earn your rewards today!