Design Principles

Build an independently operating blockchain system in the FON smart chain ecosystem, and the FON smart chain will not rely on any other network.

The design of FSC follows the following principles:

Independent blockchain:

Technically speaking, FSC is an independent blockchain rather than a Layer 2 solution. Most of FSC's basic technology and business functions should be self-contained, so that it can run normally even if other supporting facilities are temporarily stopped.

Ethereum compatible:

The first practical, widely used smart contract platform was Ethereum. In order to connect with relatively mature applications and communities, FSC chose to be compatible with the existing Ethereum mainnet. This means that most Dapps, ecosystem components and tools will be compatible with FSC without modification or only minor changes; FSC nodes only require similar or slightly higher hardware specifications and operational skills to operate. This implementation should provide room for continued compatibility between FSC and future versions of Ethereum.

Based on equity pledge consensus and on-chain management:

The consensus based on equity pledge (APoS) is more environmentally friendly and provides more flexible options for community governance. It can be expected that this consensus will have better performance than the PoW consensus, that is, the block generation time is short and the transaction processing capacity is high.

Tokenomics

The total amount of FON native coins in the FON smart chain is 26 million, and no additional issuance is allowed.

After the FON smart chain is launched, the genesis contract has been open sourced at the Github address: https://github.com/FONSmartChain/fsc-genesis-contract

1. The initial team destroys 2 million coins

2. The creation team holds 800,000 coins

3. Through DEX, ecological mechanisms and team profits, ~969,679 FON were successively destroyed. Destruction address: 0x00000000000000000000000000000000000dEaD

The current FON quantity is 100% in circulation. There is no pre-sale or ICO for the FON native currency. All FON tokens except for the team have been mined and put into circulation.