Daily Crypto Update: FlorinCoin (FLO) Rises 129.31 % in 24 Hours!
There are many currencies that have gained in the last 24 hours but the currency that left everyone behind is FlorinCoin (FLO)
FlorinCoin (FLO) has risen 129.31 percent in the last 24 hours. The cryptocurrency saw a low of 0.077 USD yesterday, June 5 and is now being traded at 0.177 USD.
What is FLO?
FLO is a scrypt minable crypto-currency with quick transaction processing. It is based on the Bitcoin and Litecoin source code, with improvements in several areas. Florincoin also introduces a useful new feature – transaction comments. These transaction comments enable Florincoin to facilitate a number of unique applications and enhancements within the blockchain.
How does FLO work?
You may buy FLO from a fiat currency exchange and use it to directly purchase a product in a different country without having to pay high exchange rates. FLO uses a wallet to store, transfer and receive FLO. This wallet signs every transaction in and out with a special private key that is unique to you. This is how the network knows that the address sending the transaction is the correct one. Think of your bank account and PIN. When you use your card (wallet), you also enter your PIN (private key), so the bank knows it was you that authorized the transaction. When you first start using FLO, your wallet will generate a private key that you must not give to anyone.
The blockchain is the heart of FLO. It is where all transactions that take place are stored. It is similar to a bank ledger in that it records all the activity that happens when FLO are transferred. This ledger is able to confirm that new transactions are valid and that no fraud is taking place.
Reasons for the rise:
Although there isn’t any specific reason for the recent gain of the cryptocurrency, the gain could be because of the highly volatile nature of the crypto market.
Other Major Gainers
The top ten cryptocurrencies that have gained considerably in the crypto market in the last 24 hours apart from FLO are:
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