What is Fractal (FCL) | What is Fractal token | What is FCL token
The myriad of use cases for blockchain technology has accelerated the explosive growth of the Ethereum, Polkadot and Cosmos ecosystems in recent years and has been nothing short of spectacular.
But as a project aiming to realise the dreams of an open and fair data economy, the decision to build the Fractal Protocol on Polkadot instead of Ethereum or indeed any other blockchain infrastructure came after the careful consideration of several factors that we shall list below.
Overview
Polkadot is a scalable protocol that connects multiple specialised blockchains together into one unified network. Scalability is achieved through a sharding infrastructure that sees multiple blockchains, called parachains, run in parallel and connect to a central Relay Chain in a secure, trust-free environment.
The Polkadot Ecosystem enables the building and securing of independent public or private blockchains that can also take any form including private consortium chains, permission-less networks, and other Web 3.0 technologies.
Although there are features shared by the Ethereum and Polkadot blockchains in particular, there are several key differentiators to their infrastructure that makes Polkadot better suited to what Fractal Protocol is building. Polkadot has laid part of the foundations for the future of Web3; along with enabling publishers to get paid what they truly deserve, another important part of our mission is to give both users and advertisers better control of and fairer access to data, therefore it was a logical decision to build on a platform that best enables us to accomplish these goals.
Security
When it comes to security, Polkadot surpasses the limitations of individual blockchains by providing an infrastructure for blockchains to connect and benefit from the shared security offered by the relay chain. Providing shared security to many blockchains is no small feat, but Polkadot has solved this problem through complex mechanisms and continuous incentives to Relay Chain validators, whose provisioned security is pooled and distributed among the blockchains connected to it.
Shared security is a value proposition unique to the Polkadot blockchain and the economic security provided by Relay Chain validators is just one of several reasons why we chose to build on Polkadot.
Scalability
Scalability is, unsurprisingly, an important point to address when considering which blockchain to build on. Polkadot can process transactions across multiple chains simultaneously and in comparison to Ethereum, can process 10,000 times more transactions per second; this parallel processing capability gives Polkadot scalability that other chains lack.
Coupled with the ability to create Parachains that control their own transaction fees and that run natively on Polkadot’s Ecosystem (made possible by the underlying framework Substrate), scalability becomes less of an issue altogether.
Fees
The recent snowballing of Gas fees on the Ethereum blockchain has highlighted one of it’s biggest issues — issuing DIDs and verifiable credentials on-chain is currently not cost effective and, until a comprehensive scaling solution is implemented, this does not look set to change for the better.
Building on Substrate-based chain on Polkadot enables Fractal Protocol to issue credentials on-chain for a fraction of the price, with greater lower-level control and flexibility over fee structures and monetary policy. Building on Polkadot has also made it possible to integrate with KILT, a protocol built on Substrate for issuing self-sovereign verifiable, revocable, anonymous credentials.
Interoperability
Polkadot’s high interoperability with different blockchains is revolutionary and the success of DeFi, as a specific interoperability application, shows the true potential of this application.
A truly decentralized web is at the beating heart of Polkadot’s infrastructure, and is a vision for the future that Fractal Protocol shares in kind. Collaborating with other projects in the Polkadot ecosystem such as Ocean Protocol and KILT Protocol is enabling us to work toward a fairer and more distributed internet; the interoperability offered by Polkadot’s Substrate Framework offers more versatility and makes it easier to interact with other independent chains further broadening the scope for collaborative efforts in the Web3 landscape.
Ecosystem
Another big plus of building on Polkadot is benefitting from their developer-centric approach. Substrate is truly a blockchain SDK; there’s the builders’ program and the platform’s public channels are responsive and friendly.
Polkadot is building an ecosystem packed with the tools for developers to create the future of Web3, even offering multilingual workshops such as Substrate Cumulus that enables developers to start Polkadot-like relay chains, register parachains, make cross-chain asset transfers, and convert their own Substrate runtimes to parachains. This investment in free educational material by Polkadot shows their commitment to creating a knowledgeable and thriving developer community.
Polkadot provides us with the tools and infrastructure required for successful development and deployment of the Fractal Protocol, without the compromises we would have to make with other
Platforms. Gavin Wood’s vision for a decentralized web is one that is shared by us at Fractal, and we are excited to have the opportunity to build on a platform that is enabling some of the world’s brightest minds to collaborate in the aims of creating a free internet that benefits everyone involved.
About Fractal Protocol
Built on Polkadot, Fractal is an open-source zero-margin protocol that defines a basic standard to exchange user information in a fair and open way, ensuring a high-quality version of the free internet. In its first version, it is designed to replace the ad cookie and give users back control over their data.
The Fractal Protocol is an open source protocol designed to rebalance the incentives that make a free and open Web work for all. It builds a new equilibrium that respects user privacy, rewards content creators, and protects advertisers from fraud. We finally have the technology to get this done: blockchain provides a trustless, shared source of truth for mechanism design; zero-knowledge proofs and differential privacy help keep users safe; decentralized identity and verifiable credentials brings people self-sovereignty over their own data.
The Fractal Protocol helps keep user data where it belongs: in the hands of the user. It does this by helping users collect, curate, verify and privately share data about themselves.
The Fractal utility token FCL coordinates and unites all stakeholders around the Fractal Open Advertising Economy. There is no profit, no dividend, no ownership, and no voting rights via the token. We instead intend that the token functions as the Protocol’s native currency, fuelling the incentives mechanism embedded in the Protocol.
By design, the FCL token fulfils a number of critical functions that ensure ongoing demand correlated to ecosystem growth. We believe that well-designed token economics is essential to supporting the actual utility of the token.
Fractal Token Launch on Polkastarter
2021 is already shaping up to be a landmark year for Fractal, and the announcement of the all-new Fractal Protocol.
We earlier this year successfully completed a $2.2m pre-sale round, with support coming from a myriad of tier-one blockchain protocol founders, smaller and larger VC funds, infrastructure providers and more. We are truly humbled to know that so many influential figures, projects and businesses from such a wide array of industries trust in our plan for the future of the free web as much as we do.
This initial funding helped us to amongst other things build the first MVP version of our protocol — We invite you to discover more about this by reading our Whitepaper.
With a highly dedicated team and prominent figures in the Web3 space advising Fractal such as Bruce Pon, Co-Founder of Ocean Protocol, we have kickstarted our mission to build a new layer that powers the free internet. It was important to us to get support from renowned entrepreneurs in the AdTech industry like Adjust’s (recently acquired by Applovin) former COO Aurel Stenzel as well as Stefan Benndorf, former MD at Applift.
Following successful private raises and to further assist us in the development of this open-source solution for the fair exchange of data and information, we want to announce that we will be conducting a Community Sale of the utility token for the Fractal Protocol, FCL, on the popular sale platform Polkastarter.
Polkastarter sale information
We will be launching the Fractal Community Sale on the Polkastarter platform on Thursday, 25th February 2021. The specific time will be made public in the coming days.
- 4,000,000 FCL tokens (0.5% of total supply) will be sold in the Community Sale
- Sale price will be $0.10 per FCL
- The tokens will be split into 2 pools: The POLS pool and the community pool. Those wishing to participate in the POLS pool must hold a minimum of 3000 POLS tokens at the time of the Community Sale. For more information on POLS read this article on Polkastarter
- 2,000,000 FCL tokens will be reserved for those in the POLS pool
- 2,000,000 FCL tokens will be reserved for the Standard pool — For more information on how to participate in the Standard pool read this article on Polkastarter
- Max cap per person is $800
- A total of $400,000 will be raised from the Community Sale
- All $400,000 collected via the community sale will be used to add liquidity to the initial DEX listing on Uniswap shortly after the token sale concludes
This upcoming sale will give both the existing Fractal community, Protocol stakeholders (Users, Advertisers, Verifiers, Insurers, and Attesters) and the future bloggers and builders, those that will enable the free web, the opportunity to join us and be part of the Fractal journey.
Presale information
5.3% of tokens were sold in our private sales between Summer 2020 and January 2021. Prices in the early rounds ranged from $0.025 and $0.05 per token with a 6 months lock, followed by 12 months vesting. In the most recent round, the price was $0.10 per token with a 6 month vesting schedule starting with the day of the Uniswap listing.
For further information on our token distribution, please read this article.
The FCL token
The Fractal utility token FCL coordinates and unites all stakeholders around the Fractal Open Advertising Economy. There is no profit, no dividend, no ownership, and no voting rights via the token. We instead intend that the token functions as the Protocol’s native currency, fueling the incentives mechanism embedded in the Protocol.
By design, the FCL token fulfills a number of critical functions that ensure ongoing demand correlated to ecosystem growth. We believe that well-designed token economics is essential to supporting the actual utility of the token.
Please stay tuned for an in-depth look at the FCL token economics, which we will be releasing in the near future.
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How and Where to Buy FCL?
FCL has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FCL
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since FCL is an altcoin we need to transfer our coins to an exchange that FCL can be traded. Below is a list of exchanges that offers to trade FCL in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase FCL from the exchange.
Exchange: 1inch Exchange
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FCL gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
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Find more information FCL
☞ Website ☞ Explorer ☞ Explorer 2 ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Message Board ☞ Coinmarketcap
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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