The FairChains project makes it possible for everyone to start their own blockchain for various use cases. For instance, you can implement a social currency or a crowd investment campaign.
FairChains is built on top of the FairCoin open source core wallet software. Each new FairChain has its own set of properties to easily adopt to every use case.
FairChains software is based on the innovative Proof-of-Cooperation (PoC) algorithm. This PoC consensus mechanism does not implement any mining or minting functionality, which are only needed for competitive systems. Instead, so called ‘Collaboratively Validated Nodes‘ (CVNs) cooperate to create new blocks and to secure the network.
Block-creation is effortless, that‘s why CVNs can be run on a Raspberry3 which consumes only a couple of watts and does not waste energy or computing resources.
Find more information on fairchains.org
How does the Proof-of-Cooperation algorithm work?
The consensus rules determine which CVN has to create the next block. Each CVN approves that CVN by digitally signing a piece of data which contains its unique ID. After the respective CVN received all the necessary signatures, it takes pending transactions and forms a new block which is then stored in the immutable and distributed blockchain database.
netidee project results:
- Project Summary (german)
- Project Final Report (german)
- Developer Documentation
- User Documentation
- FairChains Source Code