Bitvote (BTV) – Its Differences from Other Bifurcations of Bitcoin

February 01 14:24 2018

Recently, bitcoin was successfully bifurcated again, and a new bifurcation coin named “Bitvote” (called BTV for short) has been produced. There is no pre-mining and additional issue. BTV is a set of community consensus system, and an autonomous community organization of self-evolution and a safe digital cryptocurrency system have been formed. What’s different about BTV when compared with bitcoin or other bifurcation coins?

Different features

1. One-CPU-one-vote

The appearance of ASIC mining machine has broken Satoshi Nakamoto’s original assumption of one-CPU-one-vote, and BTC’s decentralized operation system exists in name only. Under PoW power certification system, the longest chain has bookkeeping right, and the magnate of mining pool autocratically intervenes in community development by mastering huge calculation power. Bitvote adopts CryptoNight algorithm, and balances the distribution of calculation powers. The voting right is decentralized to users participating in community construction, and they can take part in important decision making of Bitvote community. In this way, tough bifurcation can be prevented, and decentralization can be truly realized.

2. Voting system of block marking

In order to establish a more reasonable autonomous community, and solve disagreement more democratically, Bitvote applies the voting scheme of block marking right and separate bidding, and community users can equally participate in auction and acquire block marking right. The block marking right is applied to voting signature, and the voting options include “support”, “oppose” and “waive”. Blocks with signatures are effective blocks, and the community development direction is decided according to the voting results.

3. Decentralized open autonomous organization (DAO)

Bitvote is a decentralized open autonomous organization, and users build trust without endorsement of the third-party institution. It owns a larger block and handling capacity to process transaction data, and is able to solve the congestion of bitcoin network. BTV can be seen as a bitcoin of self-evolution version, and possesses stronger scalability, making bitcoin greater.

Item name

Bitvote (BTV)

Bifurcation height

505050

Bifurcation time

2018.1.21

Replay protection

Support

Mining algorithm

CPU

Pre-mine or not

No

Quantitative proportion of bifurcation coin

1:1

Total

21 million

Official website of the project

www.bitvote.one

Other information

Voting of block marking

Bitvote has been successfully bifurcated at the block height of 505050. All bitcoin users can get BTV candies according to the proportion of 1:1.

Author: Leading edge of inewb blockchain

Media Contact
Company Name: Bitvote
Contact Person: Lucas
Email: [email protected]
Country: Japan
Website: https://bitvote.one/

  Categories: