One thing that can be created by a Crypto Fiat is a Digital Payment System. Securly entangled into a BlockChain, decentralized and not owned by anybody, but controled by all participants. One of the most famous Digital Payment Systems is BiTCoin. And when a Crypto Fiat, encrypted approval (of a transaction), has been locked into the BlockChain of BiTCoin, a certain amount of COIN is given away.
This is for finding a solution after calculating the right cryptographic code for a block of transactions. After this the decentralized peers in the network have to agree on the found solution. Thus creating a Crypto Fiat, a hidden approval / encrypted agreement, together for that block of transactions. And so it gets entangled into the BlockChain, releasing more Coin to be spent within the network.
There are many different Coins, with lots of different algorithyms for calculating the cryptographic solution. SLICK dot CF has one particular favorite algorithym that is called “keccak”, also known als SHA3. This type of Coin can still be ‘mined’ with simple computers and is not adapted by the main Coin scene. Allthough MaxCoin seems to be an exception, so far.
And there is another “Keccak” algo Coin that is still going strong: SlothCoin. It is traded for instance at Cryptopia. But it is in need of a fork before block 300K sees the light. So that’s where SLICK dot CF came in, trying to get a new SlothCoin version out, before block 300K.
And now SlothCoin also has a home again, here at SLICK dot CF.