Updated to reflect new developments surrounding the Cryptoflow platform and the CFL coins. Platform is live. (Updated: 9th November 2018)
Cryptoflow is an UK-based company that has taken it upon itself to provide near instant fiat to crypto transfers. This should happen for maximum 2% fees and within minutes (obviously dependent on network speed). The CFL coin is obtainable without fees through their own platform.
Cryptoflow is using the masternode system for transferring and switching currencies. CFL is the main coin for all money transfers. A part of the revenue from the Cryptoflow platform will be spread monthly to all masternode holders. This is their incentive to make sure the MN don’t sell out and dump their coins.
Cryptoflow is an UK registered company, run by Barry Doyle from Ireland and Andrew Silverman from England. This really is an exception in the world of masternode based projects, who normally never disclose who they are. Their project is firstly aimed at the United Kingdom. Later on they want to roll out towards the rest of Europe and the States as well.
Cryptoflow emphasizes it’s not an exchange. Basically it’s a company that does atomic swaps for investors, handling exchanges between currencies. CFL can be used on the Cryptoflow platform, can be traded on exchanges or can be used to build masternodes that maintain the Cryptoflow atomic swap platform.
The Cryptoflow platform is currently only available in the United Kingdom. It allows users to easily obtain cryptocurrencies in exchange for fiat, in this case GBP.
Facts & Numbers
7 coins – Cryptoflow has the following coins available at time of writing: Verge (XVG), Ethereum (ETH), IOTA (IOTA), Stellar Lumens (XLM), Tron (TRX), Bitcoin (BTC) and EOS (EOS).
25 years -The reward schedule for CFL and its PoS Masternodes will run for 25 years. The entire structure has been thought out until block 13.140.000. Which would take two and a half decade to reach. By that time nobody will be using fiat anymore. 😉
Live stats – On their website they show the amount of transactions they’ve done. As shown at the bottom.
- Launched August 2018
- 60 second block time
- 10% premine locked away for liquidity and loyalty program.
- 0.4% premine for team funds
- Circulation: 349 million CFL (incl. locked 10%)
- 3 billion CFL max supply
- MN collateral: 100.000 CFL
- Product launch October 30th
Reward & collateral table
Block number = reward (MN/PoS)
10.001-20.000 = 500 CFL (90%/10%)
20.001-40.000 = 480 CFL (90%/10%)
40.001-80.000 = 450 CFL (90%/10%)
80.001-160.000 = 430 CFL (90%/10%)
-320.000 = 410 CFL (90%/10%)
-640.000 = 390 CFL (90%/10%)
-1.280.000 = 370 CFL (90%/10%)
-2.560.000 = 350 CFL (90%/10%)
-4.000.000 = 320 CFL (90%/10%)
-5.256.000 = 280 CFL (90%/10%)
– 7.884.000 = 180 CFL (90%/10%)
-10.512.000 = 125 CFL (90%/10%)
-13.140.000 = 50 CFL (90%/10%)
- There are already plenty of ways to obtain crypto. Of course more ways are needed and if Cryptoflow is capable of creating something that makes the experience really simple, that would be a welcome addition to the crypto space.
- Cryptoflow is an UK registered company, the two company owners are publicly known. The product is seemingly backed by a strong community on Discord.
- Working product is available. There’s a mobile wallet on Android that supports CFL. The Cryptoflow trading platform is available for UK customers on their website.
- This product is actually providing usability, which adds great value!
- No guarantee for success, as a platform like this thrives by marketing. Thankfully they are working with the same marketing agency that Electroneum used as well.
- 10% pre-mine locked away. Even though they explained why, it seems a bit excessive.
- Both Doyle and Silverman have no background in the tech industry, even though they do have a bit of entrepreneurship according to their Linkedin-profiles.
The business case makes sense and what they have shown of their platform so far, also seems legit. Cryptoflow is a registered company and its owners are publicly know. This adds to the legitimacy of the project. In essence the concept of Cryptoflow is not very spectacular, but if it’s well executed and marketed, it can be the gateway for a lot of people into the cryptocurrency space.