BitGreen: Sustainable Cryptocurrency Using The Green Protocol?
BitGreen is a new cryptocurrency platform launched in 2018. It is based on masternodes and trades mostly on Cryptopia cryptocurrency exchange that is aimed at providing a sustainable, energy-efficient, and extremely fast proof-of-stake masternode mining agreement.
According to the information published on their website, it acts as a sustainable replacement for Bitcoin’s current proof-of-work algorithm.
The decentralized, peer-to-peer transactional currency aims to offer solutions to problems surrounding cryptocurrencies and bring awareness to bitcoins manageable issues. In order to be fair, BitGreen has proved to be sustainable by creating a non-profit legal entity called The BitGreen Foundation for its members.
It aims to educate and teach them about cryptocurrencies and provide resources for investors and developers to learn about alternatives to proof-of-work.
How BitGreen works
BitGreen users are able to generate BITG cryptocurrency through the process of mining. This is sustainable since users can mine through their computers or laptops without the use of any other specialized equipment in their devices.
BitGreen works in masternodes whereupon users can buy masternodes or their shares in automatic cryptocurrency masternodes hosting service. In just a few clicks, one can choose from a list of supported cryptocurrencies and become a masternode co-owner. You don’t pay for hosting. There are no hidden or extra payments involved.
The service automatically configures the server, downloads and synchronizes the blockchain, and then pays out the rewards entitled to the masternode for its work, that is, to all masternode co-owners, depending on their invested assets percentage.
One also needs to have a wallet address to initiate the sale of a masternode share. One receives coins back after three days for a full masternode and after 2 weeks for a masternode share. No rewards are granted after the confirmation of the exit process.
Features of BitGreen
- Mobile Staking: BitGreen has released a mobile app that will enable its users to stake on their smartphones.
- Payment Integration: Going green should be simple for merchants who want to lower their carbon footprint and accept BITG. This is good for transactions through masternodes.
- Web Staking: BitGreen has built a website that will enable its users to stake their Bitcoins while connected to the internet.
- The Green Foundation: It’s a legal non-profit entity aimed at educating and teaching its users in order to create a sustainable network consensus for the green foundation.
Other Important Features
BitGreen has implemented lightweight mobile applications that will enable users to make fast, cheap transactions directly from their phones.
Updated Content and User Guides
To enhance the user experience, BitGreen has introduced updated masternode guides, setup materials, and overall clean-ups on their online presence.
Benefits of BitGreen
Community governance: Anyone can submit referendums to the network for masternodes to vote on.
BitGreen Foundation: BitGreen has erected a legal non-profit entity that aims to educate its users on how to trade on their cryptocurrency platform.
Banking wallets: BitGreen has introduced mechanisms in which users are able to stake either through their phones or through papers in order to initiate faster transactions.
User-friendly: BitGreen provides solutions to problems that may occur to the cryptocurrency ecosystem by ensuring that its users are well informed on the doings of the platform.