FunFair (FUN) is an Ethereum-base blockchain project aim to make an easy to use gaming atmosphere for participant worldwide. FunFair was formed by a London-based group and started in 2017.
FunFair’s main purpose is to bring back the faith in the online gaming business by making a blockchain platform toward host online casinos, gaming sites, and additional forms of games. As said by the project’s authorized white paper, the gaming business needs reform to prove to users that their data plus finances are shielded. Because of blockchain technology, FunFair is one step closer toward gaining back clients’ trust.
How Many FUN Coins Are There in Circulation?
FUN tokens are pre-minted by no additional issuances in sight. There is an utmost supply of 17 billion FUN tokens formed in an authorized FUN pre-sale on June 22, 2017. More than 80% of all tokens were dispersed to industrialized investors and purchaser through this pre-sale event.
While 11.173B of the minted tokens were kept for a second pre-sale, it was later eliminated from the schedule. More than half of these reserved tokens (55%) were burned, as they were classified as surplus. The residual 4.7B tokens were moved to a cold storage wallet plus secured for future sale to institution or big token buyer.
How Is the FunFair Network Secured?
As an Ethereum-based ERC-20 token, FUN token is working underneath the proof-of-stake (PoS) agreement technique. PoS were formed as an option for the proof-of-work (PoW) agreement used by Bitcoin. Whilst PoW needs a significant quantity of processing power for tokens toward be mined, PoS distributes mining capability based on already gained tokens.