Freicoin (FRC) is a cryptographic currency based on Bitcoin. However, FRC is not just another clone. Besides being a decentralized, distributed, peer-to-peer virtual currency, Frecoin boasts of an electronic economy that is fair and transparent, where the expectations are explicit to everyone. Unlike Bitcoin, Freicoin enforces a demurrage fee to ensure its circulation and bearers of the digital currency pay this fee automatically to those community members who have contributed their efforts to secure the network.
Transparent, fast, and secure, these are the three qualities that embody Freicoin (FRC). In order to experience these great features, a Freicoin wallet is needed. You can, of course, download the wallet client from the Freicoin website. Simply choose from the wallet clients available and install it in your computer. Once the wallet client is configured, you’re now ready to start earning FRC! You can avail some FRC coins for free from Freicoin faucets online, or through mining and trading, the choice is yours.
Freicoin mining is essential as it keeps the network running and secure. This cryptocoin uses the SHA 256 algorithm, the same proof of work scheme used in Bitcoin. With a total of 100 million coins aimed to be produced over the years and 47,539 blocks produced recently, expect to find tons of blocks that need to be generated. And with a high Freicoin difficulty fluctuation, miners should be able to gauge how often or irregular they will generate a block and earn coin rewards.
Because of the increasing difficulty of mining blocks and strong competition, pooled mining has become a very popular way of mining Freicoin (FRC). Mining pools are services where you can split the work among a group of miners and share the block reward when a block is mined successfully. If you prefer a Freicoin mining pool, you will be amazed that multiple pools are available online.
Calculating your mining profitability is vital, as this serves as an assurance if your mining efforts are profitable. To this end, use a Freicoin calculator to measure your mining profitability in a given hardware structure. Simply enter the figures of hash rate, difficulty, pool fees (if you’re into pooled mining), exchange rate, power costs, and hardware costs, and you’ll be able to see your estimated expected earnings.
Freicoin (FRC) is currently traded in Cryptsy, Vircurex, and Bter exchanges. However, the cryptocoin is not yet included in the Litecoin trading market. The Freicoin price/value can be considered weak despite the strong and upward trend of the exchange rate. As a result, FRC experiences instability in its price/value as it suffers from high fluctuations.