What is Fruits (FRTS)?
The Fruits crypto project is an eco-friendly and sustainable blockchain. The platform has a sustainable economic cycle with low power consumption, high security, and no transaction fees. Fruits uses the Proof-of-Capacity (PoC) consensus algorithm to support its economic cycle that provides a unique blockchain economy aiming to revitalize global charity. The platform connects different stakeholders in the non-profit space and ensures transparency and traceability of all donations. One of Fruits' main services is a payment gateway for donating any local currency.
Fruits’ key features include:
Low power consumption. The Fruits PoC functions with very low power consumption. The PoC algorithm uses a random draw method for mining, eliminating meaningless time and power. This mining method is not competitive and involves only 1 to 3 terminals (nodes) per transaction completed on average.
High-Speed Transactions. Fruits PoC is characterized by a small number of nodes in transactions related to mining. Mining is performed by grasping the time zone and course where data can easily be passed. Therefore, the network can always keep the transaction speed high, despite the number of transactions being processed.
High Versatility. The Fruits blockchain uses multi-layered smart contracts that can support various use cases. The smart contract rewards users with Smile coins for making Fruits coin payments (or donations). Smile coins are specifically made for donations. Once Smile token holders donate them, they receive multi-utility Fruits Seed Tokens.
No Transaction Fees. The Fruits network creates a sustainable economic cycle without the need for transfer fees. When using Fruits Wallets, donation transfers and payments, as well as non-donation-related transfers, incur no fees.
Use Cases of FRTS
FRTS is the native token of Fruits. It is a multi-utility token that powers the entire Fruits ecosystem. One of the use cases includes facilitating payments within the Fruits ecosystem. Fruits token also supports DeFi and payment functions on the Fruits Network.
If you plan to acquire Fruits coins, make sure to take a look at the live Fruits price chart above. It features the current and the previous FRTS price, which will help you make a thorough price analysis.
Who Founded Fruits?
Fruits project was developed in 2018 by T-SKY (HK) Company Limited. T-SKY is a tech company that develops applications. It also leverages blockchain technology to create various tech solutions. Fruits team is composed of experts in various industries. The project’s CEO, Liu Xin Zheng, holds a master's degree in economics from Hiroshima University in Japan. He also has a Ph.D. in Business Administration from Taipei University. Liu Xin Zheng was the general director of the Kaohsiung Municipal Government's Construction Bureau and Economic Development Bureau.
Tokenomics of FRTS
Fruits was originally a token launched on the Ethereum blockchain. However, the project was successful in carrying out a significant hard fork, which converted the outdated FRTS tokens based on the ERC-20 token standard to the native FRTS coins on the Fruits network. The tokens were exchanged at a 1:1 ratio.
The Fruits crypto project has a maximum token supply of 40 billion FRTS. The project adopts a token-burning mechanism, where a fixed number of FRTS is burned to preserve the value and reduce the transaction load. The deflationary tactic will prevent undesirable inflation that might affect the FRTS price.
The Fruits token distribution is as follows:
- Public Sale – 52.67%
- Market/Operations – 19.18%
- Airdrops/Bounty – 10.05%
- Team/Advisors – 7.19%
- Masternodes/Staking – 4.11%
- Ecosystem Incentives – 4.09%
- Treasury – 2.71%
