WHAT IS FOIL NETWORK
We present the First Public Permissioned Blockchain Ecosystem, a new type of network that bridges the gap between Public Permissionless blockchains (such as Bitcoin or Ethereum) and Private Consortium blockchains. A Public Permissioned blockchain ecosystem combines private consortium permissioning with a decentralized governance model, attempting to combine the best features of both models.
FOIL Network is a Java-based scalable, interoperable, and multifunctional blockchain network protocol that serves as a platform for developing unique decentralized economies within a multi-tier distributed, autonomous, and dichotomous ecosystem.
FOIL Network is a 5th generation blockchain that uses on-chain storage, combines the work of various consensus algorithms, and packages it all into a single Public Permissioned Blockchain Ecosystem.
FOIL’s high degree of decentralization, paired with its unique functionality, logic, and design enables it to accomplish institutional-grade security. On FOIL’s protocol, an extensive network of validators settles transactions instantly, and without the risk of reversibility. FOIL is highly faulted tolerant and eliminates the possibility of malicious participants by a unique native token algorithm that powers Foil’s transactions and block creation.
With unprecedented scalability and flexibility, the FOIL Network is capable of fully supporting an autonomous, decentralized peer-to-peer, distributed, democratized liquid ecosystem. As a result, FOIL Network creates a plethora of multi-tier public/private services and assists its users in developing and supporting existing and new revenue streams for communities, enterprises, entrepreneurs, start-ups, and service providers.
Each participant can choose to be self-governed, autonomous from the FOIL Network main-net while remaining connected to the FOIL Network main-net via the FOIL Network’s intrachain bridge. This mechanism provides the benefits of FOIL Network participation while operating outside the scope of the FOIL Network’s mainnet administration.
100,000,000 control token FOIL are created and issued once at №1 along with the Genesis block. The Proof of Stake protocol has been modified for this token’s algorithm. The generation of blocks is determined by the network’s economic shares.
FOIL Network is a cutting-edge and technologically advanced platform that has fully implemented a method of storing data directly in the blockchain. Unlike other solutions, FOIL does not rely on third-party services to complete its tasks, instead allowing large projects to create their own sidechains. This eliminates any constraints and, as a result, makes the FOIL Network ecosystem nearly infinitely scalable and extremely flexible. Furthermore, the FOIL Network capabilities extend far beyond the boundaries of traditional blockchain capabilities and can be used in areas that were previously extremely remote from distributed ledger technology.