Current cryptocurrencies do not really improve the current banking system. The transaction rate is low and slow and the fees are sometimes huge. Flink offers almost instant transaction finality while being feeless.
Is Flink a real blockchain?
It is a block-lattice system where each account gets its own blockchain. This allows for asynchronous blockchain updates and makes the system very fast.
What is the relationship with Nano?
Flink shares many design principles with the Nano project. But it is a completely separate project, written from scratch in a different programming language, with a different design philosophy and feature set.
How does Flink manage its fees?
Flink has a zero fee. All transactions are free.
What about smart contracts?
Currently, there are no plans for smart contracts. As they would be very difficult to integrate with the zero fee and fast transaction speed.
Please explain what a payment request is?
It’s basically the best way to share a meal. You enter the amount, select a friend and request a payment. The request is forwarded to any wallet provider via the blockchain and is displayed instantly.
Is the supply of coins fixed?
Yes, the amount of coins is fixed at 900 million.
How quickly is a transaction confirmed?
The system is designed to confirm transactions in a time window of under 3s.
When is a transaction completed?
The transaction is completed immediately after a positive voting process.
Do I need to run my own node?
Actually, Flink is optimized to be run by wallet providers and exchanges. But anyone is welcome to run a node and help secure the network.