The future shines brightly with unrestricted growth, global adoption, energy-efficient version of Bitcoin.
Transact in a second, confirm in a minute.
Transact privately in an encrypted method.
A congestion-free network.
BitcoinNxt uses the Proof of Stake algorithm and uses very less electricity.
Near zero transaction fee.
Anyone with a PC can stake to earn BitcoinNxt.
When Satoshi Nakamoto first published the first and the most famous white paper for “Bitcoin” back in 2008 he gave the world a completely new and most effective peer-to-peer electronic cash system. Soon after its launch, Bitcoin became a reliable transaction mode with fast transaction time, reliable transactions, and a very nominal transaction fee.
But with time as community members increased in numbers and soon, most fast, reliable, and secure mode of transaction became slow, expensive, and unreliable. Moreover, the dominance of market share of bitcoin was reduced from 95% to 40%. Somehow fluctuation in bitcoin price is too huge on many occasions, price fall/rise for more than 80%. It makes most of the investors stuck nowhere.
Over the last few years, a team of software professionals across the globe are working on the drawbacks and shortcomings of bitcoin. This initiative is much-needed action for today as mining of Bitcoin became a big environmental issue and became responsible for global warming.
Mining infrastructure becoming more and more expensive and producing extreme Carbon emission. A team of 60+ professionals/scientists/strategists working hard continuously day and night from then, till now to make blockchain more reliable in cost and speed. And to do that we replace the old POW algorithm with a more efficient POS algorithm.
Confirmation of Stake (PoS) is a kind of algorithm that plans to accomplish conveyed agreement in a Blockchain. This method for accomplishing agreement was first recommended by Quantum Mechanics here and later Sunny King and his companion composed a paper on it. This prompted Proof-of-Stake (PoS) based Peercoin.
A stake is a worth/cash we bet on a specific result. The interaction is called marking.
The more specific importance of stake will be characterized later on.
Why Proof-of-Stake:
Before verification of stake, the most well-known method for accomplishing appropriated agreement was through Proof-of-Work (carried out in Bitcoin). However, Proof-of-Work is all in all an energy (electrical energy in mining a bitcoin) concentrated. Thus, a proof-of-work-based agreement component builds a substance's Possibilities mining another block on the off chance that it has more algorithm assets. Aside from the upper two places, there are different shortcomings of a PoW-based agreement system which we will examine later on. In such a situation, a Proof-of-Stake based system holds merit.
BitcoinNxt brings sound money to the world. Merchants and users are empowered with low fees and reliable confirmations.
| Comparison Chart | BitcoinNxt | Bitcoin | Bitcoin Cash | Dash |
|---|---|---|---|---|
| Decentralized | Yes | Yes | Yes | Yes |
| Maximum Supply | 21 million | 21 million | 21 million | 18.9 million |
| Algorithm | PoS | SHA256 PoW | SHA256 PoW | X11 PoW |
| Block Interval | 1 minute | 10 minutes | 10 minutes | 2.5 minutes |
| Max TX/day | ~20 million | ~0.5 million | ~16 million | ~4 million |
| Privacy | Yes, zBitcoinNxt | No | No | CoinJoin |
| Instant TX | Yes | No | No | Yes |
| In-wallet BIP38 Encryption | Yes (private key) | No | No | No |
| Premine | Yes, 5.25 million BTCNxt | No | No | Yes, 2 million Dash |
| Eco Friendly | Yes | No | No | No |
(for pre-mined quantity only)
Bitcoin Nxt has a total supply of 21 million out of which there are 5.25 million pre-mined BTCNXT for the various purpose of development and promotional activities. The rest 15.75 million to be mined over time with the POS algorithm. Below is a glimpse of the distribution of pre-mined Bitcoin Nxt.
Over the last few years, a team of software professionals across the globe are working on the drawbacks and shortcomings of bitcoin. We worked hard to overcome such disadvantages to fulfill the remaining half dream of Bitcoin (Ver1.0)
| Shortcomings of Bitcoin (Ver1.0) | How BitcoinNxt(Bitcoin Ver2.0) Eliminates Them |
|---|---|
| Lack of awareness: - Because inventors do not have a reward or promotional events. | Airdrop and Referral System: - The introduction of the Airdrop and Referral System makes awareness more practical. Rewards for spreading the awareness are introduced. |
| Volatile price (80% drop from peak): - One event in 4 years leads the market to get into bearish mode hence most of the time coin prices remains in a volatile mode. | Halving on every 365th Day: - Unlike its ancestor (Bitcoin Version 1.0) which has only one halving over 4 years, bitcoin version 2.0 i.e., BitcoinNxt has an algorithm set for a halving on every 365th day so that price will remain on the elevated side. |
| Mining of BTC (Proof of Work): - The Proof of Work algorithm required a lot of resources and manpower and is a slow means of transaction. | Proof of Stake (PoS) Algorithm: - This Requires much fewer resources and manpower. |
| Expensive hardware required: - Mining of Bitcoin Version 1.0 required a lot of expensive hardware like a mining server making it a costly affair. | Regular PC/Laptop is now a mining server: - One can be a validator or miner even with his/her personal computer/laptop regardless of the operating system. |
| Huge Electricity Required: - Heavy amount of electricity is required to keep the PoW method running. Resulting in an expensive procedure. | No Extra Electricity Required: - Since no high configuration servers is involved in Mining Process it means no extra electricity is required in the BitcoinNxt Ecosystem. |
| Requirement of Heavy bandwidth: - To make sure the continuous internet supply to the mining servers, a very huge amount of internet bandwidth is required. | No special Bandwidth Required: - One can use his/her household internet connection attached to his/her PC/Laptop. |
| Heat Produce leads to Global Warming: - Servers produce a good amount of heat, which leads to global warming. | Removal of Servers: - As no high configuration servers is required for mining or validating emission of heat is matter of history now. |
| Costly Manpower: - Servers, Mining farms require a lot of humans to keep them maintained and running. | Minimum Manpower Required: - PoS Algorithm doesn’t require any mining server and mining farms. It requires almost negligible manpower to run it. |
| Emission of chlorofluorocarbons: - Huge amount of air conditioning is required to maintain the favourable temperature in mining farms. Again, tends to be a global warming major contributor. | Eco Friendly in Nature: - There Is no need for an air conditioner to run the ecosystem making BitcoinNxt(Bitcoin Version 2.0) the need of the hour to save the environment. |
| Large Land Requirement: - A good amount of land is required to set up a mining farm. | No Mining Farms Required: - Since PoS doesn’t require mining hence no mining farms are required. |
| Noise pollution: - Servers and Air Conditioners produce a large amount of noise making our planet unpleasant. | Zero Noise Pollution: -Since PoS doesn’t require mining hence no server and air conditioner are required so zero amount of noise contribution is done by BitcoinNxt. |
| Loss of BTCs: - Almost 30% BTC have been lost permanently due to the lost of passwords and security pharses/words. | 3 Factor Security System: - World’s first and only 3 Tier Security process is adapted in the BitcoinNxt, Password, Security Phrases, and Biometric so that one will not lose his/her hard-earned digital assets. |
| Slow Transaction time: - in the current version transaction is too slow (generally it takes 15-145 minutes). | World Minimum Transaction Time: - transaction gets completed in a second and gets confirmed in a minute. Much faster than Version 1.0. |
| Expensive hardware required: - Thousands of USD are required for even a single mining machine and moreover, it gets older with the passage of time. | No Special Hardware Required: - as the ecosystem runs on household PC and Laptops hence no separate expense is required at all. |
| Lack of modification feature: - Transactions can't be modified or canceled-in case of the wrong BTC address or BTC amount. | 3 Layer of Security: - The timer option will give the users to have a second look at the transaction details to be made, and the edit option even after placing the transaction internally well before placing it globally making BitcoinNxt(Bitcoin Version 2.0) perfect for everyone. |
Soon after development, we have a list of authentic and the world's most popular exchanges in our listing strategy. Holders can find BitcoinNxt on most or all of them.
Soon after development, we have a list of authentic and the world's most popular wallets in our listing strategy. Holders can find BitcoinNxt on most or all of them.
BitcoinNxt has a highly packed roadmap ahead and in past too here is a glimpse of some plans, targets and dates.
December-Idea Generated.
March- Team formed ,Research work starts.
March- Research work completed.
April- Blockchain Development Started.
June- Private Sale Starts.
October-Launch on Testnet.
April-Launch on Mainnet,Launch of Wallet.
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