FairCoin is the monetary base system for FairCoop – The Earth Cooperative for a Fair Economy. At FairCoop we develop tools and transfer knowledge that enable everybody to participate in a fair global economy. FairCoin plays a central role within the FairCoop ecosystem and is constantly being developed to further our values. Version 1 of the FairCoin wallet software which was used from 2014 until 2016 relied on mining and minting technology to secure the block chain. Our objection is that neither mining nor minting can truly be considered fair, because both confer an advantage on the already rich. Therefore we decided to create a new version of FairCoin which corrects these issues.
With FairCoin version 2 we create block chain-based software that is fair, secure, resources-saving and decentralised. It is based on cooperation and not on competition, which creates better efficiency.
The code-base of the Bitcoin core client in version 0.12 served as the starting point. This enables us to benefit from the latest developments made by the dedicated Bitcoin developers. Furthermore, the comprehensive infrastructure that already exists around Bitcoin can be adopted for FairCoin with minimal effortFairCoin2-white-paper-V1.1