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Dubai, United Arab Emirates. – The Bithereum (BTH) team is officially launching its Bitcoin brio peer-to-peer (P2P) focused on "Proof of Stake", the future of Ethereum mining and blockchain consensus. The launch of Bithereum will take place around 28 December, or at the Bitcoin block number 555.555. Based on security, scalability and functionality, this platform will bring the world closer to a global, inclusive and decentralized currency.
"Bithereum has developed a platform that will enable a true peer-to-peer currency by mitigating many existing problems in Bitcoin through its scaling approaches on multiple fronts," explains Sachit Singh, co-founder of Bithereum. "By bringing together the best aspects of Bitcoin and Ethereum, we are confident that our network will revolutionize Bitcoin mining through the Ethereum technology roadmap and will lead to widespread adoption of cryptocurrency."
The Bithereum will start as a Proof of Work currency at launch, but will recognize the various long-term inefficiencies and will focus on the implementation of Proof of Stake as a fundamental objective; the team has already released a proof-of-concept model for public implementation.
"Proof of Stake", or PoS, will be the engine that will make this train move. PoS is a transaction validation method that makes the blockchain network faster, more efficient, and cheaper to run. The current Bitcoin mining method, known as "Proof of Work" "is very expensive and expensive in the long term.There are not only very high initial costs, but there are also problems of excessive energy consumption, monopolization of mining activities and a slow speed of transactions.
Co-founder Scott Wade explains: "By increasing the speed of transactions and reducing taxes," Proof of Stake "mining will be an economic as well as an ecological progress."
"This new method will also reduce the excessive consumption of energy used by the" Proof of Work "extraction We are excited about the potential," Wade concluded.
In addition, the network will reward anyone who runs a complete node, similar to how miners are rewarded for their work in any labor-proof system. Complete nodes are machines that store the entire blockchain and are a necessity to keep the network active, however they are not incentivized to do so; Bithereum will address this problem with regular incentives.
Bithereum represents two chains in a coin; with the hard Bitcoin and the hard spoon of Ethereum to reward them with the BTH, they will be the first holders of coins on both chains. Ethereum holders also have the option to apply for their BTH before launching on the website if they wish.
Users who wish to see more on the platform are invited to visit the website and keep up with the progress they bring to the launch.
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For more information:
Sachit Singh
Chief operating officer and founder
Contact us at [email protected]
About Bithereum:
Based in Dubai, Outsource City, Bithereum aims to do what no other hard fork has done: merge the visions of Bitcoin and Ethereum and ultimately revolutionize mining, improve scalability and increase network consensus. Log in to: https://bithereum.network/ for more information. Also access https://medium.com/bithereum-network for more detailed blogs / tutorials on Bithereum.
Contact email address
[email protected]
Support link
http://bithereum.network
This is a paid press release. Readers must exercise due diligence before taking any action relating to the promoted company or its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in the press release.
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