What is FLASH? What is FLASH?
FLASH is not money, it’s a much bigger idea than money. It’s a community supported blockchain designed for small and fast transactions. People can send and receive FLASH and use it for just about anything, limited only by their imaginations.There are only 900m coins and they were all distributed to the community.
FLASH is based on Litecoin, but even lighter. It’s very efficient and because the mining is minimal, performed by volunteers, and transaction fees are very low. Our goal is to create a safe and secure environment for community members to participate in FLASH and facilitate communications and commerce without friction. Security is provided through our unique distributed node based governance model that we call GovNodes.
The FLASH Advantage
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Public blockchain operated for the public good.
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Zero Inflation. All coins were issued to the community. No new coins will ever be issued. If you want some FLASH you will need to trade with community members.
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No Unfair Advantage, everyone donated something for their FLASH, except for less than 0.1% of the FLASH that was given to people who tested FLASH. There is no developer slush fund, so don’t ask for any free coins.
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Optimized and tested for efficiency and high volume.
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Decentralized governance (GovNodes)
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Community supported. Anyone can develop using the FLASH blockchain. Build a project, collect your fee for using your app directly into your own wallet. Projects can be developed by anyone. Developers solicit donations from the community.
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Eco-Friendly. We’ve benchmarked 25k transactions per second using 80 watts of power.
The FLASH Governance Model
FLASH GovNodes are another unique and streamlined feature of FLASH that we think will help keep FLASH as a friendly and “low tax” zone for crypto.
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There will be 151 FLASH GovNodes (Governance Nodes) operated by FLASH Delegates. These govern the FLASH blockchain and software.
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The GovNodes will be operated and administered by a subset of FLASH holders. In order to have the right to run a GovNode, a person will be required to acquire and maintain ownership of, or “stake”, 1,000,000 FLASH,which must remain “staked” for as long as he operates a GovNode. In addition, a foundation based in Liechtenstein will be responsible for the ongoing development of the GovNodes and the maintenance of the FLASHcoin Software. FLASHcoin is a delegated proof of work protocol (DPoW) that enables quicker and more efficient processing of blockchain transactions than other proof of work protocols. The consensus of all the GovNodes randomly assigns the validation of FLASH transactions to a subset of several dozen mining nodes. This allows for quicker processing times than traditional proof of work based protocols, which require a much larger number of mining nodes to validate transactions. Any FLASH holder has the opportunity to operate a mining node and be eligible to participate in the validation of FLASH transactions by staking 10,000,000 FLASH.
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The GovNodes also assist in the governance of Flashcoin. FLASH holders can propose changes to the Software, governance or transaction fee structure of Flashcoin by posting proposals on the Flashcoin.io website. Proposals can then be nominated for an official vote by receiving at least ten affirmative votes from the GovNodes. If within 30 days of being posted on Flashcoin.io, a proposal receives ten GovNode votes in its favor, the proposal is eligible for a full vote of all the GovNodes. A proposal may then be adopted by an affirmative vote of either a majority or a supermajority of the GovNodes, depending on the nature of the proposal. Each GovNode is entitled to one vote, which is cast using a special encrypted key allowing for a digital signature that is unique to each GovNode.
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A GovNode may be transferred to any other party at will and for any reason, however, it can only vote once on any issue. It allows secure digital signing to prove ownership of the asset and will be used in the future to migrate to a FLASH wallet that integrates the GovNode.
For more information or to get a GovNode, please email to: govnode@flashcoin.io.
Upcoming Features of FLASH
1. Remittances.
Remittances are a huge international market, over 250m people left their homes in search of work and most of them send remittances home to their loved ones. Almost $1T are sent annually. Wouldn’t it be great if the cost of these remittances were nearly zero? Wouldn’t that help people back home to keep more of their money?
With FLASH, anyone can send cryptocoins anywhere in the world in seconds for almost free. The FLASH remittance eco-system includes:
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Crypto coin exchanges
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Crypto coin ATM’s
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Human ATM’s - people who exchange crypto coins for local currency
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Merchants - who accept FLASH in trade
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Language support for the top six Indian languages, Korean, Chinese, Japanese, Spanish and Portuguese
FLASH can be used anywhere, but we expect the first countries to adopt FLASH will be India, Philippines and other Asian countries and Latin America.
2. Merchant Services.
FLASH is designed to be SPENT. It’s ideal for merchants, providing very fast processing time to speed customer checkout and very low fees. Credit cards cost merchants billions a year in transaction fees, while FLASH is the true person to person community coin providing transaction processing for under a penny per transaction and no chargebacks or merchant holdback accounts. When you accept a FLASH transaction, it goes right into your wallet and it’s 100% yours to immediately spend.
If a merchant pays 2% transaction fees with credit cards, and they have a 10% pretax income on their business, credit card fees are like a 20% tax on their business. FLASH savings add up quickly and go right to the bottom line.
FLASH merchant services will include:
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Powerful and easy to use FLASH web wallet can turn any consumer into a merchant
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Using the FLASH web wallet, any employee can accept FLASH payments, only the manager can access the FLASH in the wallet.
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Merchant signage can be printed on any inkjet printer in all supported FLASH languages (future feature)
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Reporting to track sales (future feature)
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Cash back in local currency calculator (based on FLASH exchange prices) (future feature)
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Point of Sale terminal integration (future feature)
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NFC capability like Apple Pay (future feature)
3. Integrated Exchange.
FLASH, in partnership with Mammoth, AG, a new exchange being developed in Liechtenstein, will be providing in wallet exchange for crypto coins and FLASH.
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Mammoth will be a state-of-the-art licensed exchange based in Liechtenstein.
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In-FLASH-web-wallet exchange between FLASH and BTC, ETH, BCH, LTC, and others
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Purchase crypto coins right in the FLASH web wallet using your credit or debit card. (note: may not be available in all countries)
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Integration with local banking gateways to buy/sell FLASH, BTC, (note: depends on local money service partner)
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Integrated Mammoth cold storage. Offline and secure.
4. Human Teller Machine (HTM).
For places where financial services are in short supply, our FLASH community comes to the rescue. Use the app to locate the closest FLASH trading partner and arrange a time and place to meet up. Make your trade and a new friend.
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Application can locate the closest available FLASH community member interested in trading FLASH (in development)
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Traders rate each other, like Uber for money
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Always meet in a public place to trade - trade safe, stay safe
Useful Resources:
Comunity
Development
Explorer
Whitepaper
Exchanges
Wallets
Core Team
Official E-mail for Support
More information about Flashcoin? Please go to official homepage: https://www.flashcoin.io