FLASH is designed for small payments, due to its low transaction fees, high speed, and throughput, all while retaining its BTC/LTC heritage and functionality. This makes FLASH ideal for loyalty, registration and messaging applications, and is perfect for customers and businesses using small payments. We know efficiency is essential for most transactions, so we benchmarked FLASH up to 25,000 txn/sec on a $700 i7 computer consuming less than 80 watts of power. Because of this, FLASH is eco-friendly and easy on your pocketbook.
The number of coins is fixed and completely issued.
There is zero inflation.
Processing is optimized and tested for efficiency and high volume.
There is no developer “slush fund”.
Projects can be developed by anyone and donations for the developers solicited from the community.
The FLASH Governance Model
FLASH GovNodes are another unique and streamlined feature of FLASH that we think will help keep FLASH as a friendly and “low tax” zone for crypto.
There will be 151 FLASH GovNodes (Governance Nodes) operated by FLASH Delegates. These govern the FLASH blockchain and software.
The GovNodes will be operated and administered by a subset of FLASH holders. In order to have the right to run a GovNode, a person will be required to acquire and maintain ownership of, or “stake”, 1,000,000 FLASH,which must remain “staked” for as long as he operates a GovNode. In addition, a foundation based in Liechtenstein will be responsible for the ongoing development of the GovNodes and the maintenance of the FLASHcoin Software.
FLASHcoin is a delegated proof of work protocol that enables quicker and more efficient processing of blockchain transactions than other proof of work protocols. The consensus of all the GovNodes randomly assigns the validation of FLASH transactions to a subset of several dozen mining nodes. This allows for quicker processing times than traditional proof of work based protocols, which require a much larger number of mining nodes to validate transactions. Any FLASH holder has the opportunity to operate a mining node and be eligible to participate in the validation of FLASH transactions by staking 10,000,000 FLASH.
The GovNodes also assist in the governance of Flashcoin. FLASH holders can propose changes to the Software, governance or transaction fee structure of Flashcoin by posting proposals on the Flashcoin.io website. Proposals can then be nominated for an official vote by receiving at least ten affirmative votes from the GovNodes. If within 30 days of being posted on Flashcoin.io, a proposal receives ten GovNode votes in its favor, the proposal is eligible for a full vote of all the GovNodes. A proposal may then be adopted by an affirmative vote of either a majority or a supermajority of the GovNodes, depending on the nature of the proposal. Each GovNode is entitled to one vote, which is cast using a special encrypted key allowing for a digital signature that is unique to each GovNode.
A GovNode may be transferred to any other party at will and for any reason, however, it can only vote once on any issue. It allows secure digital signing to prove ownership of the asset and will be used in the future to migrate to a FLASH wallet that integrates the GovNode.