FERRUM NETWORK : BRINGING BACK DECENTRALIZATION

INTRODUCTION

In today's world, it is now a fact that cryptocurrencies are gaining ground in the financial ecosystem. The mainstream adoption of the blockchain technology and its derivatives has produced a huge demand in cryptosphere. Causing diversification of blockchain network to several kinds of main chain to suit a certain niche in the crypto industry.
Today, there are thousands of tokens based on separate blockchain for unique purposes and utilities. There are tokens like ethereum which was meant for building decentralised applications and for smart contracts, IOTA for Internet of things reasons, EOS for s UK per fast and multiple transaction execution and monero for private transactions.

These coins are unique and beneficial to the crypto industry and the world's financial ecosystem in general as it helps in building a more stable and inclusive ecosystem for users and developers.

However, for the reason that these coins operate on separate blockchains, gave rise to challenges of exchanging, communicating and transacting across these different chains and networks. Therefore a need for an interoperable solution integration arose. Currently, there have been some interoperability into the system such as atomic swap used in atomic, dapps used for ethereum based tokens. But some of these solutions have not really dealt with the aspect of fast, cheap and low data transaction with also a low variety of tokens. These problematic situations made ferrum.network to step in and salvage the situation.

THE FERRUM NETWORK

With ferrum network comes a decentralised ecosystem platform that enables a low transaction cost and a peer to peer transactions or exchange of cryptocurrencies cutting across different blockchains.

Ferrum.network consists of a West African fiat-crypto gateway -kudi exchange where users can purchase cryptocurrencies using fiat currencies.

A non custodian and trust less wallet called unifyre wallet meant for storage and exchange of cryptocurrencies regardless of its native blockchain.

An a user friendly decentralised exchange called the infinity dex which will be released in 2020. The dex will come with features never seen before, features like an AI trading assistant and fast trade execution.

The ferrum network will be powered by a native token to be known as FRM, FRM tokens will be the utility token of the ferrum ecosystem where it will be used to pay for products and services and to initiate smart contracts. The token will act in a deflationary manner where spent tokens are burnt.
The team comprises of experts cutting across different facets of profession ranging from blockchain to finance, law and marketing.

In conclusion
Ferrum.network is bringing a solution to eradicate or minimise high cost transaction, increase communication and transaction across native blockchain.

Article written by Tccrypto
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