WHAT IS FOLM?
FOLM is an open source and decentralized digital cryptocurrency based on blockchain. Anyone can setup their own servers and be a part of FOLM network.
Folm Coin is also electric and resource friendly digital currency, based on the “Masternode” approval system and using the “PHI1612 Crypto Algorithm”.
When designing the Folm coin we tried to purge the mining revenues from the roads that require excessive resource consumption, both in terms of the safe and fast currency that will lead to shortages in the crypto money market and bringing a different perspective to mining.
PHI1612 Crypto Algorıthm?
The PHI1612 algorithm is one of the most secure encryption algorithm, combination of Skein, Jh, Cubehash, Fugue, Gost and Echo crypto algorithms. It does a GPU-based calculation during encryption. Unlike the other encryption algorithms, GPU resources are not always used at the highest level during mixed encryption calculations. This means less electricity consumption and less heat generation. Thus, it has a resource-friendly approach and does not compromise security.
Masternodes are a powerful component of the FOLM network. Masternodes are 24 hours up computers that run a FOLM wallet with multiple functions such as coordinating mixing of coins, locking transactions with InstantSend and voting on budget funding. Masternodes are required to have 5000 FOLM collateral, a dedicated IP address, and be able to run 24 hours a day without more than a 1 hr connection loss.