Ferrum – interoperability among blockchains

The crypto industry offers over 2000 tokens and a few hundred blockchains, but the interoperability issue remains. There aren’t many solutions focused on ensuring communication, transaction, and exchange across hundreds of separate and distinct networks.

Ferrum Network aims to build from the group up a peer-to-peer network which supports interoperability among blockchains and improves scalability.

The Ferrum Network

The main purpose of Ferrum Network is to create a high-speed interoperability network for real-world financial applications. It aims to solve the actual problems of cryptocurrency usage in the traditional finance world: high-cost and low-speed transactions, an absence of interoperability, usage and understanding difficulties for newcomers.

Ferrum Network is building a vertically integrated line of basic financial applications that will allow users to buy, exchange, transact, and store any digital asset with no counter-party risk.

Created as directed-acyclic graph (DAG) blockchain, Ferrum Network is used as a decentralized exchange which supports nearly zero transaction fee. It allows importing and exporting coins and tokens from external networks, interchanging tokens and payment solution for daily lives.

Working apps

The Ferrum Team successfully created 4 application on their platform.

The Kudi Exchange is a fiat-to-crypto exchange with P2P payments app based in Nigeria. The Kudi Exchange and mobile wallet allow users to purchase bitcoin and other digital assets directly with fiat.

The UniFyre Wallet has unique features for sending and receiving transactions that allow users to engage in risk-free and near-instant P2P exchanges. It offers support for Bitcoin, Ethereum, Ripple, True USD, Gemini Dollar, and the Ferrum Token, FRM. The team is working on adding support for BNB, EOS, NEO and other major assets. Because both parties must authorize a transaction before it is executed, the UniFyre Wallet also enables risk- free, near instant over-the-counter (OTC) trading at a fraction of the usual cost.

The Ferrum Network has a privately available Testnet and a decentralized exchange.

The Team

Ferrum Network has a prominent team of developers and data scientists with years of experience. The core team consists of 8 persons: two founders, a marketing lead, a financial strategist and four developers.

Naiem Yeganeh is a Founder CEO and a Lead Developer at Ferrum Network. He worked for Amazon, Microsoft, Bloomberg as a software engineer for years. He has a Ph.D. in computer science from the University of Queensland.

Ian Friend is a Co-Founder and COO at Ferrum Network. He is a lawyer with several years of experience in blockchain and cryptocurrency legislation. He has worked at Wilson Elser, a law firm with over 800 attorneys in 34 offices throughout the United States. During his work at Wilson Elser, he co-founded the firm’s Blockchain and Digital Assets Practice Team.

Ferrum Network has already announced several notable strategic partnerships with:

KOSMOS, a leading investment firm, focused on helping blockchain startups scale and integrate their products into enterprises.
TLG Ventures, a venture capital firm founded by three crypto entrepreneurs, from backgrounds as diverse as medicine, business and IT, who have been investing in blockchain startups for several years.
Token Research Group, a group of blockchain enthusiasts, passionate about bringing transparency to the industry.
Gemini. The Kudi Exchange is the only African crypto-exchange to offer support for this stable coin.
Rivetz, this partnership enables hardware-level security for the Ferrum Wallet and private keys.

The token

Ferrum Network token (FRM) will be an ERC-20 token, which will be migrated to the main net once it’s launched. The FRM works as gas for the network.

The project will also introduce The Reserve Model to decrease a circulating supply of FRM tokens.

The exact date for the ICO hasn’t been announced yet.

Overall, Ferrum Network aims to solve actual problems for cryptocurrency usage in real-world finance applications. It is an ambitious project and the key advantage of this platform is that it can complete transactions between different blockchains and tokens.

Whitepaper: https://whitepaper.ferrum.network/

Website: https://ferrum.network/