The coin was created as a meme-inspired alternative to other more established cryptocurrencies like Bitcoin and Ethereum, and it aims to offer fast and cheap transactions on a decentralized network.

According to the creators of Floki Coin, the coin is designed to be more environmentally friendly than other cryptocurrencies, as it uses a proof-of-stake consensus mechanism that doesn't require the same level of energy consumption as Bitcoin's proof-of-work mechanism.