The Forbidden Forest price is $0.00068838
As of the latest available data, The Forbidden Forest (FORESTPLUS) is trading at a price of $ 0.00068838. In the past 24 hours, the price has increased by +0.00% indicating volatility in the market. It's important to note that cryptocurrency prices are highly volatile, so this value could change rapidly.
The Forbidden Forest, also known by its ticker symbol FORESTPLUS, is a cryptocurrency that claims to bring a new approach to privacy and transactional security within the digital currency space. It is described as a "highly private," "lightweight expansive," "completely open," and "stable value-preserving" cryptology currency, suggesting that it aims to maintain value over time while ensuring user privacy and scalability.
The Forbidden Forest was developed by an open development community made up of contributors from various regions and countries. This community is not structured as a company, fund, or profit-driven entity; rather, it focuses on developing a fair, open, convenient, and secure public blockchain for private daily payments.
The Forbidden Forest operates using the MimbleWimble protocol, which allows it to remove and compress historic transaction data extensively without compromising essential information. This creates a lightweight blockchain ledger designed to maintain long-term scalability. Transactions in The Forbidden Forest do not use traditional blockchain addresses or extra information, making interactions simple and ostensibly private. The network also uses a "random wandering" relay strategy, similar to that of an onion network, which is claimed to ensure that all transactions are trackable only until the point of publicizing blockchain information, adding an extra layer of security and privacy.
The unique proposition of The Forbidden Forest lies in its privacy features and its economic model. Unlike some other privacy-centric cryptocurrencies, The Forbidden Forest does not use traditional addresses, opting instead for a package of transactional information that is designed to be secret and convenient. The implementation of the MimbleWimble protocol aims to allow for a lighter blockchain with historical data compression, ensuring the network's expansive potential.
Additionally, its focus on preserving value is evident in its total supply limit of 2.1 billion FORESTPLUS tokens, asserting a deflationary model which, the developers claim, supports long-term value retention as opposed to the inflationary model seen in some other cryptocurrencies like Grin.
The security of The Forbidden Forest relies on the MimbleWimble protocol, which is characterized by strong cryptographic properties. The details on the exact consensus mechanism utilized (Proof of Work, Proof of Stake, or another system) are not mentioned, but the protocol itself is designed to enhance privacy and reduce the blockchain's size for scalability. The additional "random wandering" strategy further obscures transaction paths, adding a layer of complexity to potential traceability.
The Forbidden Forest has a fixed cap on its total supply of 2.1 billion FORESTPLUS tokens. However, the exact circulating supply is not provided in the basic information. The capped total supply indicates a scarcity model, aligning with its goal to be a value-preserving cryptocurrency.
The Forbidden Forest positions itself as a value-preserving cryptocurrency, differentiating from currencies with high inflation rates. The cap on the total supply of tokens is intended to prevent devaluation through excessive supply, thus aligning with some of the traditional characteristics of a store of value. This attribute, combined with its privacy features, forms the core proposition for users who may be seeking an asset that potentially maintains or increases its worth over time while protecting transactional privacy.
Given that The Forbidden Forest is managed by an open development community, upgrades and improvements to the technology appear to be driven by collaborative effort. The community likely proposes, discusses, and implements upgrades through consensus within the community, though the specifics of the governance model are not detailed in the basic information provided.
The Forbidden Forest (FORESTPLUS) can be purchased on the listed exchanges KuCoin. Interested buyers should research these platforms, understand how to use them, and consider the security measures that each exchange offers for trading and storing FORESTPLUS.
Keeping your The Forbidden Forest (FORESTPLUS) safe largely depends on secure storage practices. Users should consider using reputable wallets, employing strong passwords, utilizing two-factor authentication, and whenever possible, storing their assets in cold storage options like hardware wallets. It's also crucial to stay informed about the security practices recommended by The Forbidden Forest's community and development team.
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