BlackFort is a decentralized, open-source cryptocurrency platform designed to provide users with secure and private transactions. It was created in 2018 by the BlackFort Foundation, an organization dedicated to providing financial privacy for its users. The platform uses a proof-of-stake consensus algorithm which allows users to securely transact without having to trust any third parties or miners. This also eliminates many of the potential risks associated with traditional cryptocurrencies such as double spending and 51% attacks.
The main purpose of BlackFort is to enable fast and anonymous payments anywhere in the world using its native currency called BFT (Blackfort Token). Transactions are secured via distributed ledger technology known as blockchain which makes it virtually impossible for anyone else but the sender and receiver of funds involved in a transaction know what took place on their network. All transactions occur almost immediately after being initiated, making it ideal for merchants who need quick access to funds from customers all around the globe without worrying about exchange rates or other fees that may be charged by financial institutions like banks or credit cards companies when dealing with international transfers..
Apart from being used as digital money, BFT can also be used as collateral within smart contracts built on top of Blackfort’s blockchain protocol allowing developers create applications that run autonomously based off predetermined conditions written into code beforehand thus enhancing security even further while still keeping costs low since no middlemen would have control over how these apps behave once they were launched live onto mainnet.. In addition there’s been talk amongst core members working behind scenes at bft foundation regarding deploying sidechains interconnected through bridges connecting user data between two networks while still maintaining same level anonymity found throughout rest system during entire process due lack centralization present among underlying infrastructure powering black fort ecosystem so far!
