In the beginning, if you are not familiar with Ferrum yet here is a short note from their whitepaper.
What is Ferrum Network?
- Ferrum Network is a high-speed interoperability network built for real-world financial applications. It is comprised of two interconnected elements a DAG-based interoperability network that can connect to nearly any blockchain enabling peer-to-peer transactions of any digital asset in milliseconds, and the vertically integrated financial applications running on the network that allows users to buy, sell, transact, exchange and store any digital asset without taking custody of those assets.
- The network is powered by the native Ferrum Network utility token or FRM. Each transaction requires a nominal of FRM be spent and burned to attach proof to the transaction and as an anti-spamming measure. Our product line includes a live fiat gateway plus payments app called Kudi Exchange. Kudi Exchange is a fast, low-cost platform for buying and selling digital currencies combined with a revolutionary peer-to-peer payments app allowing users to instantly send fiat currency with no banking intermediaries.
Big September 10, 2019 update
- Yesterday Ferrum has rolled out one of the biggest updates so far let’s have a look at what they have in the plan for us in the next few weeks and months.
First token burn with Bitmax
- Ferrum burned 2.5 million of FRM with the partnership with Bitmax. Tokens will be forever removed from the circulation.
- Also according to the team is planning more token burns with Bitmax in the future
Web-based staking application
- Ferrum will also present to its community web-based staking application all these in the next few weeks.
UniFyre wallet beta testing will start soon
- It’s a non-custodial wallet for risk-free OTC transactions and staking of any cryptocurrency
- Right now the team will start with beta testing. If you are interested to participate in the testing you can sign up here.
- The wallet will be in multiple languages including Chinesse as Ferrum is targeting mainly African and Asian markets.
Ferrum very own Bank Card
- Kudi Exchange will rebrand into the First Kudi due to legal reasons.
- The addition of Ethereum and lower fees is coming.
- Also, the crypto card powered by Verve will be released. Allowing users to spend their digital assets anywhere where debit cards are accepted.
- What is Verve? Verve is not known as Visa or Mastercard however with Africa as a primary target it makes sense.
- Verve International is a Nigerian Pan-African and multinational financial technology and payment card brand owned by Interswitch Group. It was founded in 2008, as a subsidiary of Interswitch. In 2013, it became an autonomous business entity in a restructuring exercise. source
- Alongside all the great news the 3rd exchange will eb announced in the next days proving more liquidity and diversification for Ferrum.
If you are interested in Ferrum Join here:
Bitcoin Talk: http://bitcointalk.ferrum.network