FYD is an online community comprising freelancers and cryptocurrency enthusiasts, collaboratively working to establish a decentralized gig economy by leveraging the benefits of web dApps, blockchain, and cryptocurrency. The community focuses on educating newcomers about cryptocurrency, staking, mining, NFTs, and Masternodes. With its own live blockchain, FYD has never conducted a pre-sale, ICO, or IEO, and is exclusively funded by the community and an automated treasury. FYDcoin is an open-source cryptocurrency specifically designed for digital freelancers such as web designers, programmers, animators, writers, and online content creators. These digital coins can be transferred from person to person without the need for a bank. Featuring fast transactions (confirmations under a minute) and minimal transaction fees (less than $0.0001), FYDcoin is ideal for peer-to-peer microtransactions essential in the gig economy. Besides serving as a medium for transactions, FYD is also a store of value. With a capped supply of 650 million, holders can stake FYDcoin using any household PC or laptop to mint cryptocurrency. Transactions can be traced on a decentralized ledger or blockchain explorer, which is accessible online to everyone. FYDcoin is the native currency utilized for: * Facilitating rapid micro-exchanges among users, third-party platforms, and FYD’s native applications without relying on a trusted third party such as a bank. * Incentivizing stakers for their support and securing the FYD chain. * Supporting FYD project development through the automated treasury. * Enabling decentralized governance on-chain. * Serving as a store of value due to its finite supply and annual halving. * Offering an eco-friendly mining option with its Proof-of-Stake algorithm. FYD Native Applications: * FYD Wallet: A user-friendly desktop wallet that enables users to maintain their own private keys, stake FYDcoin, and set up Masternodes without requiring third-party platforms. * FYDme: An application that allows freelancers to connect with clients directly, eliminating the need for intermediaries like Fiverr or Upwork. * Staking Ledger: A hardware wallet capable of hosting a copy of the FYD blockchain, allowing users to stake FYDcoin without the need for a PC/laptop or third-party service. * FYDswap: An application that facilitates the peer-to-peer exchange of FYD for BTC and DASH, eliminating the need for third-party exchanges. * FYDwiki: An online platform dedicated to newcomers in the cryptocurrency space, offering articles, videos, and more general information for those conducting their due diligence.

The FYD Protocol initiated its mainnet on March 25, 2019, at 09:37:54, with an initial creation of 650,000 FYD at genesis. At present, the total supply stands at 547,392,500.07 FYD, all of which have been minted by the community over a span of 2.5 years. Commencing from block 245,001, 10% of each block reward is automatically allocated to a community treasury for funding future developments. Currently, FYD Masternodes, which require a collateral of 400,000 FYD, receive 70% of the block rewards. Meanwhile, 20% is distributed to users who are staking FYDcoin. At present, a total of 300 million FYDcoin is locked as collateral. The current staking reward is 70 FYD, the reward for operating a Masternode is 140 FYD, and 10 FYD is distributed to the community treasury. Every 526,001 blocks, the block rewards are reduced until the total maximum supply is reached. The protocol has hardcoded the maximum supply at 650,000,000 FYDcoin, with the final FYDcoin expected to be minted in approximately seven years.

FYD combines the strengths of larger cap protocols to offer a tailored solution for FYD. Bitcoin's finite supply and annual halving foster scarcity, a characteristic shared by FYD. The total supply of FYDcoin is capped at 650 million. Similar to DASH, FYD employs Masternodes to secure its network, providing features like instant send and governance. Additionally, FYD incorporates an advantage from PivX: enabling staking for smaller users. FYD, akin to Bitcoin, is not owned by any single entity. The project was initially abandoned by its developer and has since been sustained by a decentralized community. Staking FYD serves as an introduction for newcomers to various cryptocurrency aspects, including finite supply, staking/minting, masternodes, halving, and wallets. Every FYDcoin in existence has either been bought or minted, and the total supply of FYDcoin is expected to be reached more swiftly than that of Bitcoin.

FYD, similar to Bitcoin, is not owned by any single entity. The project was initially abandoned by the developer, who sold the pre-mined coins, after which it was continued by a decentralized community. FYDcoin has been actively trading on exchanges since its first week of launch. As the project evolved, the original developer transferred control to the community and sold the remaining coins on the exchanges. This transition enabled the community to acquire and stake FYDcoins or establish Masternodes to generate additional FYDcoins. A diverse group of crypto enthusiasts and freelancers, each holding a fair share of the coins without the use of an ICO/IEO, ensures that the progression of FYD benefits the community as a whole. To support further development, a community treasury was incorporated into the protocol at block 245,001, following a community vote.

FYD is increasingly available for trading on a variety of exchanges, with cryptocurrency and stablecoin pairs currently offered. As of October 2020, Binance provides the most extensive range of pairs, while Huobi Global also supports trading options in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). New to cryptocurrency? FYD provides articles and simple instructional videos for beginners: - Cryptocurrency article for beginners - Cryptocurrency video for beginners - Staking crypto article for beginners - Staking crypto video for beginners - Masternode article for beginners - Masternode video for beginners - Crypto mining article for beginners - Crypto mining video for beginners - NFT token article for beginners - NFT token video for beginners Read Eulerpool’s comprehensive guide to buying Bitcoin or any other token.