Frink is a company creating a new decentralized digital currency, Global Credits (Ͼ), as well as new high accuracy private decentralized digital IDs. We are striving to create the most customer friendly currency and IDs ever made.
Global Credits are earned into existence as people create these decentralized IDs for us by vouching for each other. Because the number of credits increases as the number of customers does, the price should be more steady as supply and demand increase together. Additionally this allows pricing Global Credits independent of the number of users. Because we use IDs, we are also capable of implementing a referral program paying users a generous amount for their referrals of other users.
Using these decentralized IDs, people can process transactions for the network, aka mine, as equals and get paid the new digital cryptocurrency, Global Credits, as a reward.
Because we break the miners into smaller communities of miners that are linked together as well as having an extremely good blockchain compression algorithm building off of research done by Ethereum and Cryptonite, we are creating a high performance, scalable, low bandwidth, energy efficient blockchain. Once fully complete, we believe it should be possible to connect to a decentralized community and start the wallet a few seconds after downloading a maximum of 1GB, even after years of Visa level transactions, in a decentralized manner.
We intend to respect your privacy as much as possible and eventually use Zero Knowledge Proofs to hide transactions and ID verifications. We also are using quantum computer proof cryptography to build this.
Finally, long term we have plans to give users two accounts, a spending account and a saving account. It’ll take 24 hours to move money from the savings account to the spending account. However, we will have some small amount of inflation on the spending account, but protect investors from this using the savings account. This allows us to remain economically healthy yet also investor friendly. This inflation will pay the miners to ensure we grow to run the most decentralized network ever.