|BitBean - [BITB] [Innovative PoS] [Scalability] [20 MB Blocks] [No IPO] [No premine] [message #26]
||Tue, 22 March 2016 23:44
Registered: January 2016
Bitbean has a maximum coin supply of 50 billion virtual beans, approximately 2380 times more than Bitcoin's supply. It will take 96 years before all of Bitbean's supply is fully available. It is the first cryptocurrency to implement a 20MB block size limit. Bitbean has a confirmation time of 1 minute.
What Is BitBean?
Bitbeans (Ticker: BITB) is a new crypto currency designed for scale-ability, speed and lightening fast transactions! It features an innovative Proof of Stake algorithm that more closely resembles traditional Proof of Work crypto currencies. BitBean is the first crypto to impliment 20MB blocks, based off Gavin Andersen's proposals to fix Bitcoin's scale-ability limitations. BitBean is designed from the ground-up to be transaction-centric and superior form of currency for on-line and brick-and-mortar businesses. Inovative new implimentations are planned for BitBean that will set it appart from the rest of the crypto curriencies and lead in the mass adoption of crypto curriencies in the market place.
It is the goal of the BitBean developers (Bean Core) for everyone involved in the Cryptocurrency revolution to have access to the exciting developments that have been taking place. An ASIC-friendly, mixed PoW/PoS bean with eventual anonymous transaction capabilities has been sorely overlooked.
The BitBean developers believe that progress should never be held back. Proof of Stake Crypto-currencies use a considerably smaller amount of energy and allows everyone to be involved in the network, without prohibitively expensive propriatary hardware as required to mine Bitcoin. The energy used mining Scrypt beans for years to prolong the days of GPU mining was a truly enormous waste of resources on a global scale. Why hold back progress? BitBean encourages it, allowing everyone with even a small investment in BitBean to participate in the network and currencies success!
Why is it Bigger?
Bitbean has a maximum coin supply of 50 billion virtual beans, approximately 2380 times more than Bitcoin's supply. With over 7 billion people currently living on earth, this will provide everyone enough Bitbeans - without creating fractions of account. Currently there are a little over 700 million Bitbeans in existance. It will take another 96 years more before Bitbean's cap is reached. Bitbean is the first cryptocurrency to implement a 20MB block size limit. This is 20 times bigger than Bitcoin's maximum block size. Bitbean is designed from the ground up to be scalable and meet the demands of the future! Why wait for Bitcoin? Bitbean delivers 20MB block sizes today!
How is it Faster?
Bitbean has a target block time of 60 seconds, with a confirmation time, 10 times faster than Bitcoin! Future updates will allow for instant and real anonymous transactions! Bitbean is positioned to be a strong competitor in the market place, both online and offline as a means of exchange at brick and mortar businesses. POS (Point of Sale) software and hardware solutions are being developed as a key element of the Bitbean infastructure.
How much Stronger?
Bitbean is no longer in the hands of a single developer, but a dedicated team, with a vested interest in it's success! After being abandoned by the original developer, the community ("Team Bean") and a dedicated team ("Bean Core") of developers came together and formed a plan, not only continue development, but take Bitbean to the next level! A whitepaper, road-map and updated wallet are current projects on-going that will be made available as they are ready. Bean Core, Team Bean will make effective use of social and private capital to build a Graphene Team ("Bean Core" + "Team Bean" + Private Enterprise = "Graphene Team")!
Market Capitalization: $78,568.80
Block reward: 1000.0
Bean Generation: Pure Proof of Stake with Proof of Work period upon release
Proof of Work Algorithm: SHA-256
PoW Block Reward: 100000 BITB
PoW Blocks: 10000
PoW Target Blocktime: 1 minute
RPC Port: 22461
Time to Maturity: 100 Confirmations
Proof of Stake Reward: 1000 BITB per block
Minimum Bean Stake Age: 6 hours
BitBean Monetary Units
Sprout = 1,000 BitBeans BitB = 1 BitBean mBitB = .001 BitBean uBitB = .000001 BitBean nokat = .00000001 BitBean
Official Forum: http://webchat.freenode.net/?channels=#teambean
[Updated on: Fri, 03 February 2017 00:56]
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