Fedora Gold aims to be a user-centric, privacy-oriented, dynamic crypto solution offering state-of-the-art technology to deliver real value to its users. As per the whitepaper, Fedora Gold was developed with a goal to enable users to trade from anywhere safely, swiftly, and privately. Further, the project uses selective crypto technologies components to craft the final solution.
The platform is a part of the CryptoNote protocol and is developed using the customized version of the CryptoNight7 algorithm. CryptoNote protocol is a consensus mechanism for proof-of-work blockchains, and CryptoNight7 is a hashing algorithm used for cryptocurrency mining. The algorithm primarily seeks to focus on two main features—private blockchain transactions and ASIC resistance.
FED Coin is the native coin of the Fedora Gold platform. The coin is mined using the CryptoNight7 algorithm, and it seeks to exhibit all core features of a CryptoNote protocol solution:
An application-specific integrated circuit (ASIC) mining device is a highly specialized device used to mine cryptocurrency.
Certainly, Fedora aims to take a mobile-first approach in its wallet development to make it easier for users to trade anywhere and anytime. Users can use their Fedora desktop wallets to store and hold cryptocurrency and use the mobile wallet for instant transactions, like tip, pay, and receive Fed Gold in the real world. Moreover, the Fedora network aims to be fast and optimized, allowing transactions to confirm within seconds. The Fedora Gold platform also has a decentralized exchange platform (DEX), Fedswap.com, with a privacy coin-based rewards token.