All current cryptocurrencies require you to buy the coins, either through mining or through exchanges. This gives the advantage to those who already have capital and mining equipment, and can afford risky investments. FairCoin is the first project where the coins are not bought but rather distributed equally between everyone who wants them regardless of their current financial status, and promotes equality.
FairCoin is a crypto currency like Bitcoin. It is a descendant of Peercoin, meaning the block generation is done by PoW/PoS hybrid.
There are no reported vulnerabilities