Super Bitcoin – SBTC Smart Contracts, Lightning Network & Big Blocks?
Super Bitcoin, found online at SuperSmartBitcoin.com, promises to “make bitcoin great again”. Find out how it plans to do that today in our review.
What is Super Bitcoin?
Super Bitcoin is a proposed improvement to bitcoin. The official dev team’s website describes it as “an experiment, trying to implement promising solutions that the community has been proposing.”
Some of those solutions including the Lightning Network, smart contracts, zero knowledge proofs, and larger block sizes. Super Bitcoin wants to implement all of these changes into bitcoin, making a “Super Bitcoin”.
Super Bitcoin is scheduled to launch on December 17 at block 498888. It will use the symbol SBTC.
Who’s Behind Super Bitcoin?
The Super Bitcoin project is led by Ranger Shi (Chief Scientist), Li Xiao Lai (Foundation Member), and JaiPeng Lin (Foundation Member).
How Does Super Bitcoin Work?
There will be a total supply of 21,210,000 SBTC, with 210,000 being pre-mined. The pre-mined SBTC, according to the official website, “shall be managed by the foundation to encourage the early developers, invest ecological construction and operate the foundation.”
Basically, the goal is to create a version of bitcoin with smart contract support. The development team believes that bitcoin has lost too much market share to competitors like Ethereum over the years. Ethereum has smart contracts, while bitcoin does not. Smart contracts make Ethereum the ideal platform for decentralized apps, while bitcoin does not have decentralized apps.
The Super Bitcoin sees this as a problem. To solve that problem, they want to add smart contracts – and most other major features – into Super Bitcoin.
Aside from four huge improvements, we have no information about how Super Bitcoin plans to accomplish these goals. The company hasn’t published a whitepaper online. They’ve provided a basic timeline of their development goals, but we don’t have much information overall.
Super Bitcoin Features
What makes Super Bitcoin different from Bitcoin (BTC), Bitcoin Cash (BCH), and other versions? There are four main differences:
- Smart Contracts
- Lightning Network
- Zero Knowledge Proofs
- Bigger Blocks
Basically, Super Bitcoin wants to simultaneously implement every protocol that’s been launched for bitcoin in the last few years. They don’t plan on launching all of these features at once, although they do plan to launch them within a year. Smart contracts will be added by March 2018, for example, while zero knowledge proofs will be added by May.
Ultimately, Super Bitcoin seems like a lot of other bitcoin proposals that have launched in recent weeks. There’s a small website explaining the basic ideas behind the project, and there’s no whitepaper or further information that we can see. That’s unusual considering the coin is planning to launch in December 2017.
Obviously, proposals like Lightning Network, bigger block size, and smart contracts could improve the bitcoin protocol in a number of different ways. However, it remains to be seen if the development team can accomplish these ambitious goals.
For now, Super Bitcoin is just another hard fork preparing to fork off of the main bitcoin blockchain.