## What Is FYD (FYD)?

 

FYD is an online community of freelancers and crypto enthusiasts, working together to realize a decentralized gig-economy utilizing the advantages of web dApps, blockchain and cryptocurrency. Educating newcomers about [cryptocurrency](https://www.fydcoin.com/crypto), [staking](https://www.fydcoin.com/staking), [mining](https://www.fydcoin.com/mining), [NFT](https://www.fydcoin.com/nft), and [Masternodes](https://www.fydcoin.com/crypto). FYD has its own live blockchain, never had a pre-sale, ICO or IEO and is funded by the community and automated treasury.

 

[FYD coin](https://youtu.be/OiauorY0yv4) is an opensource cryptocurrency designed for (digital) freelancers such as web designers, programmers, animators, writers and online content creators. FYD coins are digital coins (cryptocurrencies) that can be sent from person to person without a bank [(How does FYD work)](https://youtu.be/SkTL-1Gpl9c). Fast transactions (confirmed under a minute) and low transaction fees (under $0.0001) make FYDcoin useable for P2P microtransactions necessary in the gig-economy.

 

In addition to transacting value, FYD can also be used to store value. There is a maximum supply (650M) and holders can stake FYDcoin with any household PC or laptop to mint cryptocurrency. FYD coins can be tracked on a decentralized ledger or blockchain explorer which is online available for everyone.

 

FYD coin is the native currency that is used for:

 

* Medium of rapid micro-exchanges between users, third party platforms and FYD’s native applications without the need for a trusted third party such as a bank

* Incentivizing stakers the support/security of the FYD chain

* FYD project development through the automated treasury

* Decentralized governance (on chain)

* Store of value (finite supply and yearly halving)

* Eco friendly mining alternative (Proof-of-stake algorithm)

 

FYD Native applications

 

* FYD wallet: A simple to use desktop wallet that allows users to keep their own private keys, stake FYD coin and set up Masternodes without the need for a third party platform.

* FYDme: An application where freelancers can connect with clients without the need for a third party such as fiverr or upwork.

* Staking ledger: A hardware wallet that is able to host a copy of the FYD blockchain and can stake FYDcoin for users without the need for a PC/Laptop or third party service.

* FYDswap: An application where users can swap FYD peer-to-peer for BTC and DASH without the need for a third party exchange

* FYDwiki: An online platform for newcomers into cryptocurrency. Articles, video’s and more general information for those that would like to do their due diligence.

 

 

## How Many FYD Coins Are There in Circulation?

 

FYD Protocol launched its [mainnet](https://explorerv2.fydcoin.com) on Mar 25 2019 09:37:54 with 650.000 FYD created at genesis. Currently there are [547,392,500.07 FYD](https://explorerv2.fydcoin.com/coin-details), which were all minted by the community over 2.5 years. Starting at block 245,001, 10% of every blockreward is automatically redistributed to a [community treasury](https://explorerv2.fydcoin.com/address/FsVTUfUcyiMRLwqKPSQKbFHEDnjBV6tefP) to fund future development.

 

Currently 70% of the blockrewards are received by the FYD [Masternodes](https://explorerv2.fydcoin.com/masternode) (400K FYD collateral), 20% goes to the users that are staking FYDcoin. Currently there are 300M FYDcoin locked as collateral. The current reward for staking is 70 FYD, the current Masternode reward is 140 FYD and the current amount distributed to the community treasury is 10 FYD.

 

Every 526,001 blocks the [blockrewards are reduced](https://github.com/Fydcoin) until the maximum supply has been reached. The maximum amount of FYD is hardcoded in the protocol at 650.000.000 FYDcoin. The last FYDcoin will be minted in approximately 7 years.

 

#### What Makes FYDcoin Unique?

 

FYD combines the strength of larger cap protocols to create a customized solution for FYD.

 

[Bitcoin](https://coinmarketcap.com/currencies/Bitcoin/) has a finite supply and a yearly halving which promotes scarcity, something FYD has as well. There will only ever be 650M FYDcoin.
[DASH](https://coinmarketcap.com/currencies/dash/) through utilizing Masternodes to secure the network and enabling instant send and governance features.  The advantage of [PivX](https://coinmarketcap.com/currencies/pivx/): staking for smaller users is something FYD implemented.

 

FYD is (like Bitcoin) not owned by a single entity, the project was initially abandoned by the developer and continued by a decentralized community. Staking FYD can be a way for newcomers to get introduced to multiple aspects of cryptocurrency (finite supply, staking/minting, masternodes, halving, wallets). There is not a single FYD coin that has not been bought, or minted. FYDcoin will reach its finite supply before Bitcoin.

 

### Who Are the Founders of FYD Protocol?

 

FYD is (like Bitcoin) not owned by a single entity, the project was initially abandoned by the developer who sold the pre-mined coins and continued by a [decentralized community](https://discord.gg/8ucnqgN).

 

FYDcoin has been trading on the exchanges from the first week. As the project progressed, the initial developer handed over the project to the community and sold remaining coins on the exchanges. This allowed the community to buy in and stake FYDcoins or set up Masternodes to generate additional FYDcoins.

 

With a larger group of crypto enthusiasts and freelancers each with a fair share of the coins without an ICO/ IEO, the progression of FYD benefits the community as a whole. To further development, a community treasury was implemented in the protocol at block 245,001. This was voted for by the community.

 

### Where Can I Buy FYDcoin (FYD)?

 

FYD is available for trading on a growing number of exchanges, with cryptocurrency and [stablecoin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) pairs currently available.

 

[Binance](https://coinmarketcap.com/exchanges/binance/) offers the largest number of pairs as of October 2020, while [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/) also offers [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC), [Ethereum](https://coinmarketcap.com/currencies/ethereum/) (ETH) and [Tether](https://coinmarketcap.com/currencies/tether/) (USDT) options.

 

 

New to cryptocurrency?

FYD has articles and simple instruction video’s for beginners
[Cryptocurrency article for beginners](https://www.fydcoin.com/crypto)
[Cryptocurrency video for beginners](https://youtu.be/peD_J9Vr2vs)

[Staking crypto article for beginners](https://www.fydcoin.com/staking)

[Staking crypto video for beginners](https://youtu.be/McLXsg_eI8I)

[Masternode article for beginners](https://www.fydcoin.com/masternode)
[Masternode video for beginners](https://youtu.be/2nKDQ1_9COo)

[Crypto mining article for beginners](https://www.fydcoin.com/mining)

[Crypto mining video for beginners](https://youtu.be/-gfMXr0-LVM)
[NFT token article for beginners](https://www.fydcoin.com/nft)

[NFT token video for beginners](https://youtu.be/rIYxrkpaDlA)

 

Read CoinMarketCap’s [easy guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to buying Bitcoin or any other token.

FYDcoin

FYD is an online community of freelancers and cryptocurrency enthusiasts building a decentralized gig ecosystem.

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CyberVein's big-data solution is based on the PISR (private, interlink, secure, robust) distributed database, database operations are stored on CyberVein blockchain network which runs on a Proof-of-Contribution (PoC) consensus mechanism. The solution is focusing on enterprise-level "blockchain + big-data" customized services.

CVT is the native utility token that is used for:

Storage payment: The data owner pays the corresponding storage fee based on the file size and bandwidth consumed in such a process.

Computing power payment: Payments from user to owner for usage, and remuneration for software developers is going to be exclusively conducted in CVT.

Data exchange: On CyberVein's federated learning platform, the data acquirer trades the data at a price contracted between the two parties for distributed modeling applications.

CROSS NFT issuance payment: Dapp businesses are obligated to pay for Storage and Data Exchange in light of network resources occupied, and may set up CyberVein token as a means of payment to issue NFT or conduct business in accordance to their desired business model.

CyberVein tools include:

PISR Consortium database, creates better data management: through safe and reliable virtual machine operation and maintenance of user data, data is efficiently aggregated for upstream data, and data traceability and tracking are realized to ensure the reliability of data sources and outputs, and achieve cross-level, cross-departmental data sharing to improve the timeliness, diversity, stock and density of data to realize the commercial value of data, and truly solve the problems in data flow.

DAG storage chain, creates safer data storage, with better efficiency, no block confirmation, low transaction fees, and also eliminates miner, supports asynchronous verification and parallel processing of each node, the more nodes, the faster the speed, the stronger the scalability, which leads to better scalability. The database backup on DAG storage chain provides an extra layer of security for businesses.

Cytrix, allows GPU to be shared. Nodes can contribute part of their GPU to the network, in return for compensation through the Proof of Contribution mechanism. The contributed GPU can aid enterprises or individuals in data modeling with federated learning.

Federated Learning Platform, enables data to be monetized. Federated Learning is a distributed machine learning workflow. The datasets are first trained locally, and the data of all parties is kept locally, without revealing privacy or violating regulations.  Individual terminals return trained models to the server to create a shared model. Effectively protect data privacy and security, solve the problem of information silo, and thus realize the value of data. The platform will also provide algorithms to support data modeling operations by enterprises and individuals.

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