Bitnet BTN is a new peer-to-peer blockchain and financial network – made for everyone.
Bitnet BTN's transformative approach and key features:
Bitnet's Approach
In an industry where many blockchain and crypto projects have faced criticism for unfair launch practices, Bitnet BTN aims to adopt a different approach from the outset. The project features no pre-mined coins, no preferential treatment for founders or developers, and operates independently of venture capital influence, promoting equal opportunities for all participants.
This approach reflects Bitnet BTN’s commitment to decentralization, equal access, and community engagement. While contrasting with some traditional blockchain practices, it emphasizes transparency and fairness. Importantly, this website is not intended to encourage investment in BTN. Readers should conduct their own research and consult financial experts before making any decisions regarding involvement with Bitnet BTN.
Bitnet's Fair Launch
Bitnet BTN officially launched with its genesis block on July 14, 2023. As an innovative peer-to-peer blockchain network, Bitnet BTN enables the creation of financial systems for everyone. It is fully decentralized, similar to Bitcoin, and more powerful than Ethereum.
Promoting transparency and trust, Bitnet BTN is open-source and remains uncontrolled and unowned by any single entity. It operates seamlessly without the need for a central authority, ensuring accessibility to anyone, anywhere. Bitnet BTN’s technology facilitates the tokenization of value, catering to both sovereign and private monetary systems.
Bitnet vs. Bitcoin
Bitcoin, as the original cryptocurrency, aimed to reshape the financial landscape by offering peer-to-peer transfers without intermediaries. Bitnet BTN builds upon this vision, not just enabling mere transactions. Instead, it introduces holistic financial systems, functionalities far beyond Bitcoin’s original scope.
On the technological front, Bitcoin has faced challenges, including scalability issues and high transaction fees, which often deterred potential users. In comparison, Bitnet BTN, drawing from Ethereum’s advancements, overcomes Bitcoin’s tech shortcomings. With enhanced efficiency, speed, and affordability, its user-centric design sets new crypto benchmarks and appeals to a wider audience.
Furthermore, during Bitcoin’s early phase, a substantial portion was acquired by initial backers, leading to distribution concerns. In contrast, Bitnet BTN ensures that all its coins are generated solely through direct computational efforts, ensuring a fair distribution from the outset. This approach underscores Bitnet BTN’s commitment to fairness and equity in the cryptocurrency landscape.
In summary, while Bitcoin pioneered the decentralized finance movement, Bitnet BTN seeks to refine, elevate, and broaden its scope. The emphasis on inclusivity, fairness, and adaptability distinctly positions Bitnet BTN in the dynamic cryptocurrency landscape.
Bitnet vs. Ethereum
While Ethereum promotes itself as a decentralized platform, it faces criticism for its centralization tendencies. Certain entities and figures within the Ethereum community, because of their significant contributions, holdings, or staked amounts in the new Proof of Stake system, may influence protocol changes. This mirrors how powerful entities shape decisions in systems like governments or corporations.
Bitnet BTN, on the other hand, was founded on pure principles of parity, fairness, and decentralization. Having no central owner or authority makes Bitnet censorship-resistant and truly unstoppable.
Furthermore, approximately 72 million of all the Ether (ETH) in circulation were created before the network’s launch. They were distributed among the founders, the Ethereum Foundation, and early investors and contributors.
In comparison, no BTN was allocated to founders or contributors neither before nor after the network went live. Every existing BTN results from the exchange of energy and computational power, with miners contributing to the network in return for these coins.
Bitnet vs. Ethereum vs. Bitcoin
Comparison Table
| Feature | Bitnet | Ethereum | Bitcoin |
|---|---|---|---|
|
Currency Symbol |
BTN |
ETH |
BTC |
|
Launch Date/ Genesis Block |
07.2023 |
07.2015 |
01.2009 |
|
Consensus Mechanism |
PoW Ethash |
PoS |
PoW SHA-256 |
|
Transactions per Second |
~476 |
~30 |
~7 |
|
Maximum Block Size |
150Mb |
30Mb |
1Mb |
|
Block Rewards |
1 BTN |
Variable |
6.25 BTC |
|
Network Fees |
Low |
High |
High |
|
Supply Policy |
Hard- coded |
Flexible/ Variable |
Hard- coded |
|
Pre-mined Supply |
Zero |
72,000,000 ETH |
Zero |
|
Founders & Team Allocation |
Zero |
12,024,000 ETH |
Zero |
|
Smart Contract Support |
Yes |
Yes |
No |
|
Common Token Standards |
BTS20, 21 721, 1155 |
ERC20, 721, 1155 |
N/A |
Bitnet's Advanced Features *
What makes Bitnet BTN truly unique, in addition to the strengths compared to Bitcoin and Ethereum, are its groundbreaking Bitnet Token Standards. These BTS token standards are poised to revolutionize the blockchain landscape for several compelling reasons, while simultaneously offering 100% compatibility with Ethereum’s established ERC standards.
Appealing to the ones prioritizing the safety of their digital assets, Bitnet BTN enhances security and control with the BTS-21 token standard. Moreover, Bitnet’s commitment to innovation is evident with the BTS-HCE token standard, designed for high-compliance scenarios, showcasing its dedication to integrating digital currencies into various sectors.
Another cornerstone of Bitnet BTN’s approach is the enhanced functionality introduced by the BTS Token Standards, particularly beneficial for DApps and DeFi platform developers, offering a more versatile set of features. Lastly, simplicity is emphasized with its token creation process distilled to just two lines of code, making it accessible for aspiring token developers.
In summary, the BTS token standards stand out for their compatibility, simplicity, expanded functionality, innovative compliance solutions, and heightened security and control. These qualities could establish Bitnet BTN as a truly unique and forward-thinking player in the blockchain industry.
Bitnet's Use Cases *
Bitnet BTN offers a robust feature set, serving as a powerful bridge between decentralized technology and regulatory compliance, enhancing various sectors of the financial landscape. Its specialized BTS token standards are central to this capability, enabling a variety of potential applications. These include supporting personal financial sovereignty with minimal institutional interference, enabling regulated decentralized markets that adhere to specific regulatory standards, and integrating automated taxation processes directly within transactions. Additionally, these token standards could facilitate innovative crowdfunding platforms that combine equity and utility tokens, and they could be ideally suited for issuing Central Bank Digital Currencies with robust compliance requirements.
Furthermore, BTS token standards enable advanced digital ownership arrangements with multi-layered permissions and time-based access, foster the development of complex Decentralized Autonomous Organizations that enable decentralized voting and dividend distribution, and enhance supply chain management by implementing transparent and immutable solutions that can be optionally compliant with existing regulations. These examples illustrate just a fraction of what Bitnet BTN can potentially achieve, demonstrating its capacity to merge blockchain flexibility with the exacting demands of traditional financial systems, thereby enhancing accessibility and promoting financial autonomy.
* Bitnet's Development Status
Bitnet is in its early stages. While the underlying technology and token standards have been released, it is important to note that extensive code reviews, security audits, and testing may still be required. Users should be aware that there may be technical imperfections or security vulnerabilities that could affect the operation of Bitnet.
The website operators strongly recommend that users review the results of security audits and independent code reviews conducted by the community before relying on the technology. Additionally, it is advised to regularly monitor development progress and participate in community discussions on potential risks and improvements.