It's been more than 9 years since the inception of Bitcoin and even though it has had massive success it does come with some problems.
Firstly, its encryption algorithm is not strong enough and unable to act effectively against quantum computer’s anti-quantum computing. Secondly, the high service charge and the low transaction rate make bitcoin transaction slow with high transaction costs. In addition, bitcoin is a naturally deflationary currency.
BHP(Bank of Hash Power) is working to overcome these shortcomings. Relying on the valuable cryptocurrency such as Bitcoin and combining with the powerful mining hash power support of BHP, it makes for a better commercial circulation environment.
About Bank of Hash Power BHPC
Bank of Hash Power BHPC is a digital asset infrastructure which runs on Blockchain. In essence it is a decentralised bank which uses bitcoin hash power as collateral. They connect miners and users using smart contracts to achieve the supply and demand match between them. In doing so they provide miners and users with more revenue options. They make Hash Power a value medium.
BHP is a decentralised autonomous platform that provides the following capabilities:
- Intelligent Mining Contract
- Exchange and Transaction
- Point to point Transfer
- Hash Power Mortgage Loan
- Hash Power Investment Value
- Reinvestment and Assets Settlement
- Native Value: Global mine hash power as BHPC credit guarantee, flexibility utilizing continued mining to generate revenues and repurchase BHPC, ensuring value stability.
- Financial Service: BHP provides diversified digital financial products such as mortgage, asset replacement contract derivative, etting and reinvestment for investors. This is made possible based on its strong calculation strength and user base.
- Payment Currency: They provide a high frequency payment for cross border trade payments, E-commerce payments, supply chain finance and a trading currency.
- Lower transaction costs: As a high liquidity currency, BHPC uses its own independent blockchain to develop trading applications and in this way it makes global transactions cost much less.
Bank of Hash Power BHPC ICO Token Details
The whitelist for the ICO starts on 20 Feb, 2018 and goes on till 6th March. Pre-ICO begins o 25th Feb 2018 and lasts till 6th March, while the ICO starts on 7th March and goes on for 4 weeks.
BHP converges some of its field income into the ICO investor’s account every 24 hours. There is a total of 75 million BHPC available with a Pre-ICO price of 1BHPC being $0.55 USD and an initial ICO price of 1BHPC being $0.7 USD. The price of the token in ICO period increases as the tokens get sold.
10% of the funds will be used for Technology development and product, 9% for management and community construction and the rest of the funds,81%, will be utilized for hash power and financial products purchases.
Bank of Hash Power BHPC ICO Conclusion
Bank of Hash Power BHPC relies on strong hash power to establish a Proof of Power mechanism to achieve high concurrency, low cost and safest international transaction payment system. It provides users with more convenient and efficient financial and derivatives services, which can shorten the period for auditing, accelerate the trading, improve the quality and efficiency of financial services. In many ways it is trying to fill the gaps left by traditional cryptocurrencies.
You can read more about the company and their ICO on http://www.bhpcash.io/bhpc/index.html/.