Freicoin
Crypto Overview
Overview
Freicoin (FRC) was launched in 2012 as an alternative cryptocurrency designed to implement demurrage, a form of negative interest on money holding. The project aimed to discourage hoarding and encourage circulation of the currency.
Purpose and Utility
The core purpose of Freicoin was to serve as a medium of exchange with built-in demurrage fees, where holders would pay a small fee over time for holding the coins. This was intended to encourage spending rather than saving, theoretically leading to increased economic activity.
Current Status
Based on the most recent available information, Freicoin appears to be inactive. The project's development has ceased, and there is no significant trading volume or active community. The official website is no longer accessible, and there have been no updates to the project's codebase for several years.
Technical Implementation
Freicoin was based on the Bitcoin protocol but modified to include a 4.5% annual demurrage fee. This fee was designed to be redistributed to miners who secure the network.
Usage and Adoption
The cryptocurrency showed very limited adoption during its active period and currently shows no signs of active usage or trading.
Crypto Impact
To assign a comfort level investing in Freicoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Freicoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.