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Open Minds Award nominates FairCoin for the category "Infrastructure"

FairCoin is nominated for the Austrian Open Minds Award 2017 for the Open Software category “Infrastructure“. The nomination is substantiated with the alignment of FairCoin as an ecological and sustainable alternative to BitCoin and other crypto currencies as well as the aim of enabling an equitable and fair economy.

The Austrian Open Minds Award has set itself the goal, to give Open Source actors and their projects more public attention. That is why, together with other open communities, they are organizing a new stage and an annual fix event.

Summercamp in Switzerland

About 40 people from the fair.coop and FairCoin communities meet in the Jura Alps at a Summercamp (link is external) to review and plan the next steps for developing an ethical economic ecosystem utilizing blockchain technologies. Where do we want to go from now, after the successful migration to Proof-of-Cooperation? 

Why forking does not matter FairCoin

On August 1st afternoon, the Bitcoin Cash (BCC) fork has happened. Their clients do not accept any block with a height greater than 478558 from the BTC network. BCC requires the block 478559 to bigger than 1MB to be accepted. The hash rate in the BCC network is unknown, we expected the first unique block in the BCC network to be mined in some days. Now we have several forked BitCoins.

FairCoin Migration successful!

On July 18th, 2017 at 18:07 CEST all coins have been transferred from the old to the new blockchain. Block 160 of the blockchain shows this specific payload (in 14 transactions). Now we run the first Proof-of-Cooperation blockchain!  7 chain admins and 13 CVNs have been added, 3 more are pending.

Bittrex was following our change and accepted sells and buys again after 19:00.

PoC detailled migration schedule

On July 18th 2017, at 10:00 CEST the new blockchain will start. Shortly after that chain admins can download the final release of the FairCoin2 wallet. The FairCoin2 wallet we've been using so far can not be used as it is beta software and does not work on the real blockchain.

Deflation in FairCoin: good or bad?

This weekend we had the opportunity to present FairCoin at the "Smart Country ThinkCamp" in the rural area Südburgenland in the village Bildein at the Austrian / Hungarian border. A question about deflation came up: If we stop coin supply with FC2, how could we also stop deflation? If there is (and hopefully will be) increasing demand for FairCoins, people will keep their FairCoins rather then spend it, as products will get cheaper in future.

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Chart FAIR (red) vs BTC (blue)

FairCoin vs Bitcoin proves to be a shelter coin during BTC downtrends. Source: Soulanti @ TradingView.com

 

 

 

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