the 2014 Altcoin You Don't Remember

Not only has Medici Land Governance begun adding property records on the FLO blockchain, but T-zero is adding digital locate receipts, which locate the ownership of a stock, into FLO to mitigate naked short selling.

For many intents and purposes, FLO has become a kind of single purpose blockchain specifically for OIP. And that wasn't a bad thing for FLO. While other institutions are starting to use FLO now, for many years Devon and Amy were the only ones really focused on FLO and they brought in a significant number of the developers that work on the blockchain to this day.

The FLO developers have raised $50,000 from the community over the past six years and the OIP and Alexandria team have raised a few $100,000 here and there, which they used to continue FLO development.

Young describes FLO as "Hidden" and "Undervalued." And although Buddenhage was initially only attracted to FLO as a way to make money from small programming gigs, his "Appreciation and understanding" has grown significantly over the years.

Now a senior software developer at the venture capital subsidiary of Overstock.com, Chrysostom brought to the job his interest in FLO. Chrysostom was assigned to a project within Medici Ventures focused on property rights - the idea being a global property rights registry - and FLO and the work being done by the Open Index Protocol seemed like a natural fit there, he told CoinDesk.

Toward the end of 2015, customers of Cryptsy, the only digital currency exchange that listed FLO, began having withdrawal issues, and shortly after the exchange claimed it was insolvent after a July 2014 hack.

While some thought the reason was low volume, Fiscella argues that other coins that were not delisted had lower volume than FLO, so really he speculates the delisting was about FLO's low hashrate, which meant that FLO could be relatively easily 51% attacked.

The attack works like this: an anonymous account deposited hundreds of thousands of FLO coins into Bittrex, traded that FLO for the 25 bitcoins, withdrew the 25 bitcoins and then rewrote about 480 FLO blocks.

The wallet at the exchange then didn't have the FLO to deposit into the accounts that had bought the altcoin.

Joey used the FLO he had been mining since the beginning to pay back the exchange and other FLO developers set up a "Big Mac Fund" for Joey, where community members have donated about half of the 700,000 to Joey for his ongoing work on the protocol.