Fiotech Mining

Fiotech Mining

5 min read
811 words

Table of Contents

  1. Introduction
  2. Overall Description
  3. System Features & Functional Requirements
  4. External Interface Requirements
  5. Non-Functional Requirements
  6. Other Requirements
  7. Appendices

1 Introduction

1.1 Purpose

This Software Requirements Specification (SRS) defines the functional and non-functional requirements for the Fiotech Mining Application, a mobile application allowing users to earn Mining Points (virtual points) through daily mining sessions.
Upon fulfilling KYC and redemption conditions, users can convert Mining Points into real FTC native tokens on the Fiotech blockchain.

1.2 Scope

  • Mobile app client (Android & iOS) to simulate energy-light mining.
  • Backend server managing Mining Points accounting and eligibility tracking.
  • KYC verification process required for redemption.
  • Integration with Fiotech mainnet for withdrawal operations.
  • Mining Points are not FTC tokens until redeemed.

Note: Mining Points have no intrinsic value and are non-transferable outside the Fiotech Mining Application.

1.3 Definitions, Acronyms & Abbreviations

Term Definition
Fiotech Permissionless, EVM-compatible blockchain platform.
FTC Native token of the Fiotech ecosystem.
Mining Session 24-hour mining window for point accrual.
Mining Points Virtual points earned during mining sessions; convertible to FTC once redeemed.
Base Mining Rate (BMR) Base earning speed before multipliers.
Security Circle Set of trusted users boosting mining efficiency.
Ambassador User who grows the network by inviting others.
KYC Know Your Customer identity verification for mainnet eligibility.

1.4 References

  • IEEE Std 830-1998 – Recommended Practice for SRS
  • Pi Network white-paper v1.3 (public release 2023-12-15)
  • Fiotech Technical Specification v0.9

2 Overall Description

2.1 Product Perspective

  • Mining inside the app only accrues virtual Mining Points.
  • Redemption of Mining Points for real FTC tokens requires passing KYC and meeting specific conditions (e.g., minimum points threshold, lock-up agreement).
  • Points remain off-chain until redeemed on Fiotech mainnet.

2.2 Product Functions

  1. Daily tap-to-mine to accumulate Mining Points.
  2. Multipliers via referral, Security Circle, Ambassador status.
  3. Real-time points display.
  4. KYC verification and redemption request interface.
  5. Points-to-FTC conversion according to pre-defined ratio and conditions.
  6. On-chain delivery of FTC tokens after successful redemption.

3 System Features & Functional Requirements

3.1 Account Registration & Authentication

ID Requirement Priority
FR-1 Allow sign-up via phone or email plus password/OTP. Must
FR-2 Create a custodial keypair until user links Fiotech Wallet. Must
FR-3 Enforce unique phone/email per account. Must

3.2 Identity Verification (KYC)

  • FR-4: Integrate with KYC provider (Yoti/Onfido) via REST API.
  • FR-5: Prevent mainnet transfer until KYC passes.

3.3 Mining Session Lifecycle

  • FR-6: Mining sessions generate Mining Points only.
  • FR-7: Users accrue points hourly according to multipliers.
  • FR-8: Real-time Mining Points counter during active session.

3.4 Redemption Process

ID Requirement Priority
FR-16 Submit redemption requests once minimum Mining Points + KYC is completed. Must
FR-17 Lock and deduct Mining Points after redemption. Must
FR-18 Only transfer FTC tokens to verified wallet addresses. Must

4 External Interface Requirements

  • Mobile App: Flutter 3.22, Dark/Light Mode.
  • Backend API: HTTPS REST + GraphQL, JWT authentication.
  • Blockchain Interface: gRPC connection to Fiotech full nodes.
  • Push Notification: Firebase Cloud Messaging.
  • KYC Service Integration: Webhook /kyc/callback.

5 Non-Functional Requirements

Category Requirement Metric
Performance App start-up ≤ 3 s; background CPU ≤ 2 %; memory ≤ 150 MB. P95
Security TLS 1.3 encryption for all communications. —
Privacy GDPR, PDPA, CCPA compliance; data deletion within 30 days. —
Availability Backend uptime ≥ 99.5 % monthly. SLA
Scalability Support 50 M DAU with <300 ms p95 latency. Load Test
Maintainability Codebase > 80 % documented. CI/CD Gate

6 Other Requirements

6.1 Risk Assessment

  • Regulatory issues around KYC and crypto classification.
  • Mobile OS policy updates banning mining apps.

6.2 Future Enhancements

  • NFT achievements for mining milestones.
  • Marketplace for Fiotech ecosystem apps using mined tokens.

7 Appendices

Appendix A – Mining Rate Halving Schedule (indicative)

Milestone Users (M) BMR (Points/h)
Genesis 0–1 0.50
Halving 1 1–10 0.25
Halving 2 10–100 0.125

Appendix B – Pseudocode: Monthly BMR Recalculation