FantomCoin (FCN) Price

FantomCoin (FCN) is a digital currency that uses a merged mining approach and is based on the CryptoNote algorithm. The CryptoNote algorithm is known for its privacy and security features.

FantomCoin was one of the earliest digital coins to utilize merged mining, which allows miners to generate multiple cryptocurrencies simultaneously without sacrificing hashing power. This approach can increase the security and efficiency of the network, as it allows smaller coins like FCN to benefit from the hashing power of larger miners.

One of the key features of FCN is its anonymous transactions. The CryptoNote algorithm ensures that transactions on the FCN network are untraceable and unlinkable, making it a popular choice among crypto enthusiasts who value privacy. Additionally, FantomCoin utilizes ring signatures, which make it difficult to determine which user initiated a transaction.

FantomCoin has a fixed total supply of 184.44 million coins, with a block time of 60 seconds. The reward for each block mined is gradually reduced over time, with the ultimate goal of reaching a point where no more coins are created. This is known as a deflationary monetary policy, which can increase the scarcity and value of the currency over time.