The Funex coin blockchain is a decentralized, programmable database designed to support a low-volatility cryptocurrency that will have the power to serve as an efficient medium of exchange for billions of people around the world.We present a proposal for the Funex Coin protocol, which implements the funex blockchain and aims to create afinancial infrastructure that can foster innovation, lower barriers to entry, and improve access to financial services.To validate the design of the Funex Coin protocol, we've built an open-source prototype implementation — FunexCoin — in anticipation of a global collaborative effort to advance this new ecosystem.The funex coin protocol allows a set of replicas — mentioned as validators — from different authorities to jointly maintain a database of programmable resources. These resources are owned by different user accounts authenticated bypublic-key cryptography and cling to custom rules specified by the developers of those resources. Validatorsprocess transactions and interact with each other to reach a consensus on the state of the database. Transactionsare based on predefined and, in future versions, user-defined smart contracts in a new artificial language called tomove.We use a move to define the core mechanisms of the blockchain, such as the currency and validator membership.These core mechanisms enable the creation of a unique governance mechanism that builds on the steadiness andreputation of existing institutions within the early days but transitions to a completely open system over time.
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