Bither Platform (BTR) is a three-layer and multi-mining project that is an answer to the energy consumption problem in PoW mechanism, The first layer is a fully functional and secure layer with a reward system for the miners. The second layer is where different projects like sidechains are going to be added. Scientific and research projects that are in need of computing power, are going to rent their required hashing power on the third layer. Ability to reuse the computing power on the Bither platform generates a new source of income for the miners which is a perfect solution to keep the mining profitable in downtrend and bear markets. One of the characteristics that makes Bither a different project comparing to other projects that support sidechains is the independence of sidechains when issuing transactions, in other words, sidechains don't need to use the main layer's coins as a fee of the transaction, and they can use their own coins.
Bither Platform Review
About The Bither Platform
The architecture of Bither is designed to minimize the computational resources required for safeguarding the network, by doing so, a portion of the computing power, by the miners’ choice and in a democratic way can be driven towards scientific projects that are in need of computing power to process big data. In this way, Bither provides PoW consensus mechanism with a more efficient framework.
One of the Bither’s features is the merged mining, this is a powerful incentive to draw more miners to Bither’s network. Miners would be able to mine all customized tokens located on the second layer, not just the main coin (BTR).
Bither Platform benefits from a more efficient, flexible, modular-based and user-friendly set of features that even currently-existing blockchains with a second layer solution do not. As an example, in Bither, users can add a third layer to their network located in the second layer. Such a feature makes them able to define multiple tokens and make their project better structured.
To conclude, the Bither platform while providing all the features of current blockchains such as protecting the network with PoW, tokenization and smart contracts, it aims to push blockchain technology one step further in order to have a place in a green and eco-friendly future and to be a great help for science to afford to process big data. Besides these, Bither has brought many innovations to make its platform more efficient and user-friendly.
Top 10 features of Bither Platform
Bither Platform will present all these advantages to the cryptocurrency society:
- Optimized use of energy with the multi-mining ability to incentivize miners.
- The possibility to create thousands of sidechains in the network.
- Recording transaction details on the sidechains rather than the main network.
- Not needing Bither balance for the sidechain transactions.
- A standard platform where scientific projects can purchase their required computing power.
- Providing the required hashing power for mineable projects at the start of their activity.
- Profitable mining during market downturns.
- Defining a safe and secure standard to prevent fraud in the initial coin offerings (ICO).
- The possibility to define and create holding companies.
- Setting up decentralized and user-friendly exchanges.
Bither works with Proof-of-work (PoW), as its consensus algorithm, though with a different architecture and distinct functions compared to Bitcoin, Ethereum, and many other similar networks. Bither’s innovation is in its calculation of network hash rate and automatic separation of computing power by using trusted masternodes. Through a hybrid method, these masternodes are defined and implemented in high numbers. Moreover, each masternode’s information is compared to other masternodes and there is an automatic and precise supervision over the accuracy of the computations and their orders.
In this method, masternodes are equipped with a new processor core (software). Through this processor core, the entire hash rate of the network is calculated before being divided into four major parts:
- M percent of the network’s total hash rate is allocated for mining new coins, recording transactions, securing the main network, and checking and executing smart contract algorithms on Bither’s main network.
- N percent of the network’s total hash rate is distributed among networks of the second layer. This computing power is used for recording and confirming transactions in networks of the second and third layers. It is also used for computation and summarization of the network’s internal transactions.
- This part is shown by the percentage marker of K. Through the miners’ decision and selection, this part is assigned to operational projects; these are projects that run on the Bither network and need computing power for their processing.
- The last part is introduced by the percentage marker of L (L=100-M-N-K). This part is assigned to a third-layer network in which miners can lease their excess computing power, The token that is used in this network is called Rental Processor.
By implementing a modern architecture for mining and defining trusted masternodes, the Bither platform presents a new solution to the current problem of mining centralization. The role that masternodes play in the distribution of hashing power is an innovative approach to to solve the problem of ASICs. This way, ordinary have a chance to mine as well.
Trusted Master Nodes On Bither Platform Network
The security and authenticity of Bither Platform project are the most important concerns that has been discussed and reviewed in detail by the team. The innovative and optimal solution that was ultimately chosen by the Bither Platform team (after a long process and full validation of the possible algorithms) was based on two complementary and comprehensive methods. The first method is to increase the initial difficulty in automatic and intelligent validation of each master node that wants to be an active node on the Bither network, the second method is based on the use of the "Smart Judgment" concept by the Bither Platform network itself.
Innovations and Attractions of Bither Platform
For the first time, Bither has presented a completely new platform which has many advantages for executing smart contracts, setting up scientific projects that need hashing power, creating second and third layers toward categorization of activities for tokens and so on and forth.
Video to learn more about Bither Platform
Bither Stock and Rental Processor
The “Bither Stock” network is an internal network on the second layer. Shortly after the setup of the main network, the developer team will set up the Bither Stock network on its basis. The aim of Bither Stock is to create a system based on blockchains, in the form of a blockchain holding-company and in order to provide the possibility of leasing a part of the hashing power of the network. This internal network has a fixed number of coins, all of which will be released at the beginning of its operation. For example, for projects that need a larger-scale of computing power in a given period but do not have the possibility to obtain and keep supercomputers, Bither Stock can be a good choice.
The owners of Bither Stock are shareholders in leasing hashing power (based on the second layer), which will have a lifetime fixed income on a weekly basis. These transactions take place using “Rental Processor” that is a token on Bither’s third layer. It is considered as the network currency for internal transactions toward leasing hashing power. The price of hashing power in the Bither Stock network will be depending on supply and demand, and a 2% commission will be taken for each transaction. This amount will be saved at a fixed address that can be checked by everyone and the total received commission will be distributed among shareholders (according to the ratio of their share to the total one hundred million tokens). This distribution will be done on a weekly basis with Rental Processor as the currency (a minimum will be defined).
See Also on BitcoinWiki
- Cloud mining
- Blockchain Projects List