Tuesday, 26 May 2020

BitcoinV - Introducing Variable Block Reward

All crypto currencies have one thing in common, mine them and you will be rewarded with either a constant reward or one that decays over time, that is until now.
Meet BitcoinV, a new crypto currency with a unique feature called Variable Block Rewards (VBR) that lets you dynamically adjust your mining rewards to pull as many BTCV out of the blockchain as possible. At the core of this feature comes a significant bonus — more decentralization.

Employing the VBR feature on top of officially released Bitcoin code results in a Bitcoin offspring that is almost the same, but also very different. Having 99.99% of the code identical to Bitcoin results in an end product that meets the very high standards of Bitcoin code quality and reliability.

BitcoinV’s VBR feature naturally has a “51% Attack Deterrent Algorithm” and “more decentralization“ at its core.

The BitcoinV Variable Block Rewards (VBR) feature provides a mechanism for which both GPU and ASIC miners can coexist and mine on the BitcoinV blockchain at the same rate, but with different block rewards.

BitcoinV is a blockchain where all miners can SOLO mine and still have a shot at mining for a block reward regardless of hash power! We are suddenly a decentralized blockchain, no need to have 51% of all miners in the world using only 4 pools (4 wallets)! Much harder to perform a 51% attack now!

In essence BitcoinV is a new crypto-currency that forces miners to try and find the most profitable multiplier setting, in the current blockchain hashing state, while not knowing the other miners’ strategy. The strategies will continually change as miners’ try and out smart each other.

BitcoinV forces miners’ to try and outsmart each other in order to gain more BTCV, the game of greed. In doing so results in some miners always straying away from the crowd to try and make more BTCV, and this naturally forms both SOLO and POOL miners. Because of this, BitcoinV should have more decentralization than the original Bitcoin.

There was a reason the maximum supply for BitcoinV was set to 168,000,000. The blockchain expects miners to multiply the rewards, use it!
For more info about BitcoinV visit their official site www.bitcoinv.org .

By BitcoinV Team

source: medium.com
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