Peer to peer electronic cash system
for instant transactions

Executive summary
To keep up with economic growth, wedeveloped an extraordinary idea of “FuturoCoin.” The market demands faster andmore reliable coins that can be used in
all market transactions and are time-sensitive and more secure. Since FuturoCoin
aims to remove the current barriers in the
adoption of cryptocurrencies, it will open
new doors in the economy, making this aperfectly timed coin and technology forthe market. We have developed a user-friendly and secure digital currency tocreate a world that is faster and smarter.
Our digital currency uses cryptography tosecure the transactions. It does not need
any institution to settle transactions andis borderless. We have used some economic and technical ideas from existing
cryptocurrencies and introduced our new
concepts to become an on-chain scalable currency with a decentralized and autonomous system.
FuturoCoin’s exceptional idea for the impending future of cryptocurrency is tocombine proven solutions with innovative technology. We are proud to be in this
sector, where we can shape the world bymaking it smarter and safer. FuturoCoin has clear plans and will emphasize on
building a strong team with your support
to create an easier and better-organizedWorld.

“The power of the crowd“In the era of despotism, people were nothappy because of their king’s dominanceand selfish attitude. However, in that scenario, at least they had control over theirfinances and lives. People replaced dictatorship with democracy to have the power to choose governing authority with amandate to control their lives. Therefore,
governments across the world can manage the finances of their citizens responsibly. Nowadays, people are not happy evenwith the government. They are corrupt,
and they are taking the shape of dictatorship. So, people have decided to takedirect control over their finances andoperational activities by using blockchain
and its currency.

Abstract
Bitcoin and other cryptocurrencies use a distributed network and database system called
the blockchain to acquire consensus acrossall system participants. This approach requires
time to confirm all pending transactions toprotect against a double-spend attack. A double spend is a situation where an attacker
tries to send a transaction to a merchant and,at the same time, sends the other one withthe same coins to himself.

Confirmation time varies across hundredsof cryptocurrencies in existence. In Bitcoin, it
takes at least 10 minutes on average, but the
number of confirmations needed depends onmerchant security. It is assumed that to be entirely sure, one needs to wait for an hour, whichtranslates into more or less six confirmations.
Today, e-commerce undoubtedly cannot wait
for such a long time while delivering the goods. FuturoCoin was created to resolve thisproblem, guaranteeing instant transactions
with fixed fees at a competitive level.

3Mission
At FuturoCoin, we aim to make digital cash easy and accessible to all users around the world.
Everyone should have the right to use the full potential of the blockchain, store, and it’s value.
Join our payment network and get access to fast and cheap transactions in everyday payments.

VisionOur vision is to make a change in the fundamental structure of the global economy and banking systems by transacting, investing and spending FuturoCoins in the same way as any traditional currency but way faster, transparent and secure.

4

Background and introduction
Before we introduce FuturoCoin, we need tofocus on cryptocurrency and how FuturoCoin
fits with all its features.
“A purely peer-to-peer version of electronic
cash would allow online payments to be sent
directly from one party to another without
going through a financial institution.”
This is how Satoshi Nakamoto described cryptocurrency in his first article titled Whitepaperof a cryptocurrency named Bitcoin. It sums
up the features and the basic principle of acryptocurrency. In 1995, Tim May published
his manifesto to the Cypherpunks group, calling them to invent a decentralized digital currency. Some of the most prominent people
who responded were Nick Szabo, Hal Finney,
Adam Back, Tim May himself, and a few more.

They started some projects like Hashash,
Bmoney, and BitGold but with no remarkable success. In 2007, right in the middle of theeconomic crisis, Satoshi Nakamoto appearedout of thin air and introduced the blockchain idea, which brilliantly connected all previous concepts. SHA-256 was used as a cryptographic hash function, as its proof-of-work
scheme. On January 3, 2009, the revolution
began with the mining of the first Bitcoin
block or the genesis block. Bitcoin source waspublished so that it could maintain transparency. This move changed the cultural andtechnological paradigm and ultimately modified the way people transfer currencies. After
that, many other blockchain projects cameinto existence. Currently, blockchain is not
only used to transfer coins, but it also helps toresolve many real-time problems.

To be called a public cryptocurrency, a specific currency has to meet the following:• its source code must be published and publicly available• the ledger containing historical transactions must be unalterable it is decentralized• cryptography should be used for security purpose• it is digital no authority should be given the power to interrupt the process• no institution settles its transactions• no one has control over issuing its electronic tokens transactions have no borders• everyone should be able to access it5

It’s time to discuss how FuturoCoin fits thefeatures of cryptocurrency. This quote fromthe „Crypto Anarchist Manifesto” should beknown:

social power structure, so too will cryptologic
methods fundamentally alter the nature ofcorporations and of government interferencein economic transactions.”“Just as the technology of printing altered andreduced the power of medieval guilds and the

Ecliptic Curve
Digital Signature
Algorithm

private key

RKjWRSskmYGRTtZy
fxweDCgwjEdL8
cAJ95Vu4jthSs

SHA-256
RIPDEMD-160
BASE 58

public ECDSA key

03bd4c60aeB115e1b2abbf
caa243175aaea717587a646
a65b72aa382d39e8ccf

FuturoCoin public adress

FetbMCQZZXN44MwhtrGxrVTbsG
RipBajpBc

6

Analysis of the competition

Features

Network
Layer

Rate ofTransaction
Verification

MiningTransaction
Fees

BitcoinDash

FuturoCoin

Bitcoin takes around
10 minutes to verify thetransaction.

Bitcoin works based on
the principle of one-tier
network where there is
only one layer of nodes.

FuturoCoin operates on
the two-tier network. The
masternode acts as thesecond layer of the node. It
will be more efficient thanthe other two coins.

Bitcoin takes around
10 minutes to verify thetransaction.

Since it uses a two-tier
network, it takes a few
seconds to verify thetransaction.

FuturoCoin hardly takes
a few seconds (andsometimes even less thana second) to verify thetransaction and is much
faster than compared toDash and Bitcoin.

Bitcoin requires a lotof resources for themining process.

Dash mining is
extremely difficult andcomplex because it
requires solving a lotof complicated mathproblems.

FuturoCoin’s mining
procedure is the sameas the mining process ofDash.

The transaction fees arequite high in Bitcoin.

Dash tries to minimize
transaction costs.

FuturoCoin’s transaction
fee is fixed and negligible
when compared to theother two coins.

7Current market issues
Here are some problems of a traditional centralized banking system and its fiat currencies:
Government intervention - Banks have a disturbing amount of command over personal data and fiat currencies,
which ultimately troubles people.
Centralized banking - When a bank confiscates a personalaccount for any reason, specific processes and procedures
take a lot of time.
Under-resourced economy - The inefficient and the ineffective distribution of resources between people and economy.
Financial exclusion - According to a report published in2018, there are more than 2 billion people in the world whoare either not accessing any traditional banking system facilities or are able to access only some of them.
Unsatisfactory systems and unfair practices - The current
banking systems do not support local or global micro-economy, nor do they encourage financial inclusion.
Restricted number of clients - The number of clients is limited by country and system barriers.

Speed of transaction - It takes several days and depends on
the bank-to-bank relations.

Scalability - It is expensive and slow.

Transfer values - The transfer values are limited and restricted by laws and certain procedures.

International transfers - are restricted, slow and expensive.

8

FuturoCoin: a valuable alternative to all market
problems
FuturoCoin is a solution to all of the above issues. FuturoCoin makes the digital cash easy andaccessible to all users in a much faster andsafer way. No authority will be given to a single

hand. It will promote digitalization and decentralization. Privacy will be respected, and everyone will be able to access the network freely.

Here are some solutions provided by FuturoCoin
Fraud-proof: All confirmed transactions are stored in a public ledger. Identification of coin owners is encrypted tosecure the legitimacy of record keeping. FuturoCoin is decentralized, which means you own it. Neither government
nor bank has any control over it.

Instant settlement: FuturoCoin is easy to use, so it will become high in demand. A smart device and internet connection is all you need for instant payments and moneytransfers.

Accessible: There are more than two billion people whohave access to the Internet but lack the right to use traditional exchange systems. These individuals will be able touse FuturoCoin without any restrictions.

Identity theft: Blockchain technology used by FuturoCoin ensures secure digital transactions through encryptionand „smart contracts” that make the entity virtually unhackable and void of fraud.

You are the owner: When using FuturoCoin, your privacy issafe without third parties.

9Market analysis
According to the chief executive of a top digitalcurrency exchange, the entire cryptocurrency
market will reach up to $ 1 trillion this year.
There are more than 250 exchanges andaround 4500 cryptocurrencies available on themarket. Whereas the world is moving towards
e-commerce, and its growth is commendable.

In 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and e-retail revenues are projected to grow to 4.88 trillion US dollars in 2021.

Currently, the world is looking for a solutionthat combines the cryptocurrency and the
e-commerce market. According to a survey by
Coinbase, cryptocurrency will hit the mainstream as a way of paying for services and goods
within the next decade. Many of those students surveyed by Coinbase will become partof the working world.

https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/110This is the right time for FuturoCoin toexpand in the market where people are
eager to use cryptocurrency and adopt
a digital banking system. Nowadays, themarket needs a cryptocurrency coin, which
is fast, secure, and easily accessible so thatit can fill the gap between traditional fiat
and advanced crypto.

11

Product description
FuturoCoin is a cryptocurrency which mainly
aims at quick transactions to protect against
double-spend attacks and to minimize thetransaction fees, so everyone can easily accessit.
Cryptocurrencies like FuturoCoin and Bitcoin use asymmetric cryptography to sign transactions. FuturoCoin, for example, uses the x-11
algorithm consisting of 11 different hashes forhashing blocks. This was invented to keep the
network more decentralized.
FuturoCoin protocol introduces the number ofbenefits:• Two-tier network - FuturoCoin works

based on the principle of the two-tier
network where master nodes behave
as a second layer of nodes.

• Instant payments - Master nodes are

responsible for the correct executionof instant payments. Instant payment
allows for the improvement of the
speed of the transaction process.

• Low and constant transaction fees -We have introduced the flat rate for alltransactions so that every person caneasily access them.

How does FuturoCoin work under the hood?
Asymmetric cryptography
Till 1976, if two parties wanted to convey amessage in an encrypted manner, they wererequired to exchange a key, which was used
to encrypt and decrypt a message. There wasonly one way to do that, namely, meet face-to-face or use a trusted courier to deliver a cryptographic key.
In 1976, Whitfield Diffie and Martin Hellman
issued a document describing the algorithm
where no secret key is exchanged. The message can still be appropriately encrypted anddecrypted or signed. This technique is called
asymmetric (public key) cryptography. Cryptocurrencies like FuturoCoin and Bitcoin use thistechnique to sign the transactions.
Here are some important details about asymmetric cryptography used in FuturoCoin (andother cryptocurrencies):• Every public key originates from its
corresponding private key.

• A random 32–bytes number can be
assigned as a private key.

• The fee does not depend on the number• FuturoCoins are allocated to a public• Governance model - In FuturoCoin, the• The holder of a public key is the person• Advanced security - FuturoCoin’s• The owner of FuturoCoin needs toof coins being sent.

block reward is divided equally.

security system is inspired by solutions
found in other cryptocurrencies,
preventing all the latest known attacks.

The above features of FuturoCoin show that
it is entirely decentralized, relying on a ledgerof transactions distributed across a worldwide
network of computers and is based on a technology called the blockchain.

key.

who controls the corresponding private
key.
use their private key to verify theownership of FuturoCoins assigned to acorresponding public key.

No one apart from the owner should be allowed to control the private key.

12

Transaction
Cryptocurrency is a digital currency that cannot be copied nor double-spent. It is defined
as a chain of digital signatures. If there is a process of transferring a coin, the owner needs todigitally sign a hash of the recent transaction
and the public key of the receiver and affix it to
the transaction message. The signature is verified by the receiver to authenticate the chainof ownership. Santoshi described it in the following manner:

TRANSACTION

This process is neither time nor power consuming and assures the receiver that the senderis the true possessor of coins and can perform
transactions. But this process does not provide
the solution for the double spend attack. The
owner of the coin can send the same coins twice or more times. In the current scenario, thisproblem is resolved in a centralized mannerwhere trusted parties (banks or other financial institutions) keep the accounting books
and guarantee that the coin is not spent twice. Now the only way to confirm the absenceof double spend is to make all transactions in
the whole system visible to everyone and haveall system users agree on a single version of atransaction history. This historical ledger is named blockchain.

TRANSACTION

Owner 1st public key# hashOwner 2nd public key

Owner 3rd public key# hash# hashVERIFY

Owner 0th signature

Owner 1st private key

SIGN

TRANSACTIONVERIFY

Owner 1st signature

Owner 2nd private key

SIGN

Owner 2nd signature

Owner 3rd private key

13

Mining is created to get rid of double-spend
attacks. Mining is also a process by which transactions are authenticated and affixed to the
public ledger. The proof-of-work also establishes representation in the majority of decision making. Within the FuturoCoin network,
every user has the power to run his node andmaintain the network by providing hashingpower to generate a new block of verified transactions.

Similar to other cryptocurrencies, all blocks to
FuturoCoin are linked in a way that any change
in the already existing block would require recreation of all the blocks once this change is introduced from. A Merkle tree is constructed by
all the transactions in a single block. It is doneby joining each transaction ID with other transaction ID and hashing them together. Then,the results are hashed in pairs, up to the point
where only one hash remains, the process is finished. This is called a Merkle root.

The picture below shows the mining process with a merkle root.

BLOCK HEADERBLOCK HEADERBLOCK HEADER

Prev hash

Prev hash

Prev hash

Nonce

Nonce

Nonce

Merkle root

Merkle root

Merkle root

Hash01

Hash23

Hash2

Hash3

Tx2

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Two-tier network

Instant payments

Bitcoin uses a single-tier network where processes are executed through nodes. At thesame time, FuturoCoin, on the other hand, utilizes a two-tier network. Masternodes act as asecond layer. They are responsible for maintaining numerous network services. The servers
are connected to mining and all other passing
nodes and are always on.

FuturoCoin introduces the distinct feature of
an instant payment. Thanks to this feature,
an instant transaction is possible around theworld. This kind of payment is carried out only
by masternodes. When it happens, inputs tothe particular transaction are locked and authenticated by agreement of the masternodenetwork.

Masternodes use several protocol expansions
such as the Masternode ping message. The Masternode announces and disperses the message around the network. Regular peers andmasternodes are typical in their connection
behaviour. They form a classic P2P network.
FuturoCoin ecosystems are responsible for fasttransactions and management or administration with low and consistent transaction fees.
In the future, we will describe this calculation.

MASTERNODEORDINARY PEER

15

Instant payments provide the solution to theissue of a long wait for confirmation when sending the transaction. Merchants can deliver
their goods right after the transaction occurs. FuturoCoin presents an additional feature where an instant transaction may include
more inputs and outputs in one transaction.
This quantity is set at up to ten for outputs (plusaddress change) and any number of inputs.
Additionally, all transactions are instant. This
special quality of FuturoCoin requires an additional level of security, besides masternodes
locking mechanism. Every input needs at leastsix confirmations (six mined blocks) to become
usable.
An example of a transaction:
1.

2.

3.

Bob sends a transaction of ten FuturoCoinsfor software from merchant X using a “locked transaction” message.
The transaction is distributed throughout
the network and achieves a set of electedauthority nodes from the masternodes list.
The authority nodes form a consensus about the transaction validation and each sign“consensus transaction” message, which issent to the network.

4. When a node finds the agreement messages, it considers the transaction confirmed.
In FuturoCoin, no additional fee is needed forthis kind of operation as all transactions are instant.
Low and constant transaction fees
With FuturoCoin, we have introduced the flat
rate for all transactions. The fee model depends
completely on the number of inputs applied ina transaction. Most commonly, this number
is less than ten. To prevent a flood attack, weneed to introduce certain security measures.

When the number of inputs exceeds 10, thebase fee is multiplied by 2, and so on. This canbe presented by the formula:fee = max (base_fee, CEIL(n/10) * base_fee)
where fee: final transaction fee
base_fee: constant fee value
n: number of inputs
The fee does not depend on the amount of coins being sent. Base minimal fee can be modified or altered by the spork functionality.
Reward distribution model
Masternodes grant some essential functions,which are not present in other cryptocurrencies.
In FuturoCoin, 50% of the block reward is given
to miners, and 50% goes to masternodes. Masternodes are naturally distributed and secured autonomously by every owner.
Every user who would like to set up his masternode can do it freely. All that is required is toinstall the node, possess 10.000 FTO and configure the node to work as a masternode.
FuturoCoin uses a similar kind of enhanced
strategies that are available in some cryptocurrencies. Amongst them are Multi-Phased Forks(“sporks”), which are related to global variables
that can be altered by the developers’ team.
An example of such a variable is a transaction
fee. Transaction fees are modifiable by FuturoCoin developers and are dependent on many
economic and technical parameters. The purpose is to have the most competitive transaction fee on the digital currency market.

16Advanced security

Big and growing community of supporters

FuturoCoin introduces refined solutions to numerous types of attacks that take place in thecryptocurrency world. These include:

FuturoCoin’s community’s rapid growth helps
us building a broad audience around theworld. Apart from having a strong team of developers, it is essential to emphasize the visionand plans for FuturoCoin. These features make
FuturoCoin exceptional and increase its scope.

• Sybil attacks• Finney attacks• Multiple agreement messages• Transaction lock race attacks.

We will not focus on their description in thisdocument. It is worth specifying that FuturoCoin has all mitigations safeguarding the network from these kinds of attacks.

PrivateSend functionality
PrivateSend functionality is not available in
the FuturoCoin system due to laws and regulations. Therefore, it has the same anonymity
level as in Bitcoin-like currencies, which use
pseudonymous anonymity level.

Instant transactions
FuturoCoin is a digital currency that makes
transactions instant. Consensus is achieved
through masternodes, which lock the inputs
and validate transaction correctness.

17Economics
Total coin emission

Block reward allocation

Since the start of FuturoCoin every block was
rewarded by 13.31811263 FTO and the increaseof FTO was linear. New version developed in
March 2020 introduced a halving mechanism.
Every two years supply of new FTO will behalved by two. After reaching 1.66476407875
per block, FTO protocol will switch into tailemission and stay on that amount.

FuturoCoin divides every block reward in half:•
50% goes to the winning miner,•
50% goes to a masternode network. Masternodes can be are freely deployed byevery node owner who possesses 10.000
FTO

Our main aim is to bring FuturoCoin to the topof its category. This is the reason why it is essential to support and reward active users.

One of the aims FuturoCoin was created for is
to guarantee instant transactions with fixed
fees at a competitive level and resolve scalability issues available in other cryptocurrencies.

Flat fee for all kind of transactions

It would be impossible to build a successful
and sound brand without the people involved.
People using FuturoCoin will be the best illustration of this success.
Emission rate
Dark Gravity Wave algorithm is used in thecase of difficulties retargeted. On average, newblocks will be mined every minute. Rewards
started from 13.31811263 FTO and after introducing halving mechanism in March 2020 the reward will be halved every two years till reaching
1.66476407875 FTO. After this the protocol willswitch into tail emission.

18

Conclusion
FuturoCoin’s exceptional vision for the futureof cryptocurrency is both revolutionary andachievable.

With a significant and growing community of
supporters, we are confident about our visionand plans for FuturoCoin. We believe FuturCoin will play a crucial role in the world economy.

FuturoCoin will accredit each person and business within the microeconomy, through adecentralized and all-encompassing financial
structure that we have passionately created.
FuturoCoin has terrific potential for development and growth. The World is ready for acryptocurrency like FuturoCoin.

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