Do you want to work with cryptocurrencies but do not want to damage the environment? Meet Bitcoin Green the best option in ecological mining
Hello steemians How are you on this wonderful day? Today I stopped talking about something that has caught my attention about a project that I am very proud of because it takes something very seriously that few people who work with cryptocurrencies do not know or simply do not care. As we all know when mining cryptocurrencies with Proof Of Work we always have to do a lot of damage since these equipments consume a lot of energy which damages the environment and gives a lot to talk about, that is why a blessing has come out which we can call ecological mining since we treat what we call proof of stake and masternodes something that is booming and that many of us do besides be very easy and earn more. Bitcoin green is the pioneer of this and for that reason I want to bring you this project so that we can talk more deeply about this wonder so come with me to talk about this and ecological mining.
What is Bitcoin Green?
Bitcoin Green is a currency created and thought in the original project of Satoshi Nakamoto but improved and with great tributes. It is a decentralized transactional currency that, above all, is a campaign to raise awareness of the sustainability problems that arise from the consensus test work commonly used in blockchain public networks, which gives us a result in being a faster cryptocurrency, more cheap and more scalable than Bitcoin in its current form. In the Proof Of Work, energy has always been a big problem because it consumes a lot because of its high power and this damages our environment. Bitcoin Green offers something more stable and ecological that we call colloquially as ecological mining Proof Of Stake and Masternodes always on the The momentum boom can also be extracted on any computer, and it will never require specialized knowledge.Mining equipment The Green Protocol offers a simple solution to Bitcoin's sustainability problems and provides a more scalable and faster blockchain that is more suitable for daily transactions. The Green Protocol is based on PIVX and has been modified to use the consensus of proof-of-stake and masternode. There is no useless test component for Bitcoin Green.
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ENERGY EFFICIENT: Utilizes an energy efficient proof-of-stake algorithm that can be mined on any computer.
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FASTER TRANSACTIONS: chieving 154* transactions per second, including the support for InstantSend.
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LOWER FEES: Extremely low fees, with an average transaction fee of less than a few cents.
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GREEN PROTOCOL: Drastically improves on Bitcoin’s outdated SHA-256 proof-of-work consensus algorithm
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HIGHLY SCALABLE: The Green Protocol allows BITG to be far more scalable than Bitcoin in its current form.
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MASTERNODE MINING: Masternodes secure the BITG network and in turn receive rewards.
Problems
- Unsustainable energy consumption: Bitcoin consumes an astronomical amount of energy. Currently, the Bitcoin network uses more energy than 159 countries. There are only 195 countries on earth. That means that 82% of the countries in the world use less energy than Bitcoin. A single Bitcoin transaction consumes enough power to supply more than 9 family homes in the United States for 24 hours. If Bitcoin's mining growth continues at its current rate, Bitcoin will consume all of the world's electricity by 2020. The energy that could be used for homes and electric cars will be redirected more and more to the massive Bitcoin hardware network, taxing energy networks around the world. world. This ridiculous energy consumption is not necessary to secure a blockchain network and is the first and main problem that Bitcoin Green intends to solve.
- Waste of computational resources: Cryptocurrency mining operations require high-powered computers to perform job test calculations. This requires many specialized computer parts, including graphics processing units (GPUs), application-specific integrated circuits (ASICs) and field-programmable gate arrays (FPGAs). These are the same components required by artificial intelligence researchers, computer scientists, medical researchers, game designers and gamers, animators, graphic designers and video editors around the world, among others. Due to the increasing popularity and profitability of cryptocurrency mining, these critical computer components are becoming scarce. Currently, miners are using this hardware to ensure network consensus through the test work, however, it could be used to improve society in many other ways. Those who need this computer hardware are forced to settle for suboptimal hardware, pay inflated prices in secondary markets or pay exorbitant fees to rent the necessary hardware on cloud computing platforms. A large part of the world's critical computer hardware is being used by miners to the detriment of everyone else.
Solutions
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Proof-Of-Stake: It is an intuitive, efficient and energy efficient results mechanism that uses economic incentives to ensure a blockchain network. The test mining of the game allows the coin holders. In the work test, your mining rewards are proportional to the amount of computing power you control in the network. In the game test, your mining rewards are proportional to the amount of coins you have in the network. The security coin game test miners become a desktop program that can run on any computer. By maintaining a guarantee, or a "stake", it shows the network that it is economically incentivized to follow the protocol of the network. While you are betting, your stake wallet verifies transactions and mine blocks. When you are working successfully in a block, you are rewarded as what would be a work test miner. Also this is something that many of us already know because it is the peak of the moment and is what is revolutionizing the world of cryptocurrencies.
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The Proof-of-Stake Bitcoin: The Bitcoin Green team has designed a revolutionary new mechanism of results that has been called the Green Protocol. The Green Protocol is energy efficient, extremely fast and combines the stake test and Masternode mining. The purpose of the Green Protocol is to act as a sustainable replacement for the current Bitcoin SHA-256 work test algorithm. The Green Protocol uses stake test mining and only in code mode in combination with fixed block rewards to create a fair distribution of coins. Eighty-five percent of the Bitcoin Green block rewards for master dockworkers, 10% for dockworkers and 5% go to the decentralized government group (explained below). In this structure, each masternode is weighted by the Bitcoin Green network, and large wallets do not derive unfair benefits from compositional effects. This creates a more equitable mining experience and the distribution of currencies. The total Bitcoin Green supply is set at 21,000,000, as is Bitcoin. Bitcoin Green has extremely low rates, with an average transaction fee of less than $ 0.04 (assuming a price of $ 20,000 per BITG). This is significantly lower than the current Bitcoin transaction fee of around $ 25.20. In addition, masternodes in the network allow PrivateSend and InstantSend. This functionality allows Bitcoin Green to act as an extremely fast and optionally private transactional currency, a use case is simply not possible for Bitcoin due to its slow transaction times and high rates.
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PROOF-OF-STAKE AND MASTERNODE-ONLY MINING: Proof-of-stake is an energy-efficient, scalable, and intuitive consensus mechanism that uses economic incentives to secure a blockchain network. In proof-of-stake, your mining rewards are proportional to the number of coins you hold in the network. This differs to Bitcoin mining operations, which require high-powered computers to perform proof-of-work calculations that are neither scalable nor sustainable.
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COMBINATION WITH FIXED BLOCK REWARD: In proof-of-stake, block rewards are distributed to coin holders instead of third-party miners. The cryptocurrency’s inflation flows to coin holders in an amount proportional to their staked collateral. This is a key advantage of proof-of-stake. There is no longer a distinction between miners and everyday users. In proof-of-work currencies, the cryptocurrency’s inflation flows to the third-party miners, which means the holders of the coin are hurt by inflation
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CREATION OF A FAIR DISTRIBUTION OF COINS: With proof-of-stake, all members of the cryptocurrency ecosystem have their economic incentives aligned to improve the network’s technology and encourage widespread adoption, not to slow the network down or make it less efficient to increase profits for mining businesses. Proof-of-stake works because it requires users to own a very large amount of currency in order to pose a threat to the network.
- BITCOIN GREEN FOUNDATION: is an organization created to bring awareness to Bitcoin’s sustainability issues. Furthermore, the Bitcoin Green Foundation will focus on education, teaching the public about cryptocurrencies and providing resources for investors and developers to learn about alternatives to proof-of-work. The Bitcoin Green Foundation believes in a future without proof-of-work cryptocurrencies. Our campaign to promote awareness will be an essential part to the success of Bitcoin Green.
- BITGEX: aims to help democratize the staking process by making it super easy for non-technical users to get started. Setting up your own staking traditionally involves an understanding of Linux, cloud server hosting, and other technical subject matter. We do all the hard work, so you don't have to. And is designed to be a marketplace for sustainable cryptocurrencies. Proof-of-work, the technology used to secure the Bitcoin network, uses more energy than the majority of the world's countries. We believe mass adoption of proof-of-stake is the path to energy-efficiency and long-term cryptocurrency viability-and that a focused marketplace can help achieve that goal.
- MAX. BITCOIN GREEN SUPPLY: 21,000,000
- CURRENT SUPPLY: 5,816,013
- Block Time: 1 minute = 60 seconds
- Block Size: 2 MB = 2097152 Bytes
- Average transaction size: 226 Bytes
- Block size / Block time = 2097152 / 60 = 34952.54 Bytes/s
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Bytes per second / Average tx size = 34952.54 / 226 = 154 tx/s
- MASTERNODES ONLINE: 1,689
- COINS LOCKED IN MASTERNODES: 73%
- Masternodes.online
- Masternodes.pro
- Official MN Setup Guide
- MN/Wallet Guide for RasPi
- Latest Bootstrap
Easy Masternode setup Platforms
- NodeHost ($12/month automated, trustless & shared deployment. Live customer support. Largest BITG masternode hosting service.)
- YCE ($8/month Payable in BITG, you can set-up and run your masternode (retaining control of your coins), or you can simply use it free to notify you about rewards.)
- GIN ($15/month Payable in GIN, you retain control of your coins with a nice clean dashboard to setup your masternodes.)
- Nodebuilder ($10/month;)
- Kalkulus ($12/Month)
When it comes to cryptocurrency, coinmarketcap is the main capitalization platform and it is the platform where if a project is completely legitimate it is listed as they make a great study of the projects before enlisting them, bitcoin green has a long time and is in the put 378 placing it among the first coins so we can know that our money is fully protected.
At this time the discord has become something much needed for people who work with cryptocurrencies since it is the main contact with developers, equipment and users and investors who believe in the currency, it has become a boom the discord for us and bitcoin green is not left behind is very updated with the latest news and updates that have made the project so it is good that we are within this and so we also have more confidence when investing in the project.
Contact us
- Website
- BITGEX
- Ann
- Github
- Merch Store
- WhitePaper
- CoinExplorer
- Backup
- Medium
- Discord
Posted from my blog with SteemPress : http://musicayfarandula.vornix.blog/2018/11/13/do-you-want-to-work-with-cryptocurrencies-but-do-not-want-to-damage-the-environment-meet-bitcoin-green-the-best-option-in-ecological-mining/