FastCoin (FST) is a decentralised open-source cryptocurrency forked from Litecoin in May 2013. Like its parent, FastCoin is a proof-of-work coin that uses scrypt as its hashing algorithm. However, it differs from Litecoin in that it deploys a custom difficulty adjustment mechanism to prevent "instamining", a process of rapid coin generation by insiders and very early adopters. It was launched with a zero pre-mine. FastCoin features a block generation target rate of 12 seconds with just 4 confirmations required, making it one of the fastest cryptocurrencies on the market in terms of block confirmation times (48 seconds). Original announcement.
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