The Community Speaks segment is written by select members of cryptocurrency coin or token project communities who want to update the Altcoin Buzz Army about news surrounding the project they represent. The goal of the Community Speaks Segment is to bring these community members in to introduce the Altcoin Buzz Army to their opinions surrounding their respective projects and keep them updated on its progress. Any ideas or opinions expressed here do not necessarily align with those of the Altcoin Buzz core team.
In this installment of Community Speaks we will highlight Bitcoin Green, a proof of stake focused cryptocurrency. The BITG team decided to adopt Proof of Stake consensus because they wanted a more scalable, environmentally friendly, and faster cryptocurrency. On that rivals everything that bitcoin lacks.
According to research from the Bitcoin Green Foundation, Bitcoin mining burns more energy than 82% of countries in the world. This energy consumption is a growing problem that contributes to global warming. Although many bitcoin miners are now turning to renewable energy, the PoW mining activity is still hurting the environment. BITG outperforms BTC in every aspect. The foundation’s goal is to highlight Bitcoins sustainability issues. Let’s take a look at some of Bitcoin Green’s cryptocurrency features.
First, Bitcoin Greens block size is 2 MB. That’s double the block time Bitcoin operates with. Block size is how many blocks can be solved within the specified limit. Since Bitcoin block size is 1mb, that means it can only handle a small number of transactions and that leads to network congestion and large fee’s. BITG can handle double what BTC can and thus provides faster transactions and lower fee’s. The average time needed for a BITG block is 60 seconds. For Bitcoin, its an average of 10 minutes and we all know it takes longer than that. Block time refers to how long it takes for the hash power to find a solution to the block hash.
Second on the list is the number of transactions per second (TPS). Bitcoin can only handle about 7 TPS, maybe a little more while Bitcoin Green can handle an average of 154 transactions per second. This is all thanks to the masternodes that are online and the stakers. A bitcoin Green masternode only cost 2500 BITG coins, and you’ll receive 85% of the block rewards while stakers get 10%. The last 5% goes to the decentralized governance pool, some of this BITG goes to the content creators for the roots program. The roots program is a bounty created by the Bitcoin Green team. You can get rewarded for creating content about BITG or wearing any of their apparel.
Third on this list is the cost for the transactions. Every single person in crypto has experienced the hefty fees that bitcoin charges for the miners. Bitcoin Green, however, has an average transaction fee of 0.01 USD. That’s right, one cent.
The Bitcoin Green team is focused on highlighting how proof of work protocols aren’t good for scalability, the future of our planet, transaction speed and overall adoption. BITG is a great peer to peer currency because of its fast transactions and frictionless use. That’s why it will be the backbone of a new exchange known as Stakebase.com. Stakebase will be an exchange dedicated to PoS projects. A user will be able to stake right on the site and trade cryptocurrencies. A seamless and easy to use platform that will give PoS a stronger foundation for liquidity and adoption. Bitcoin Green has a limited supply that mimics Bitcoin, 21,000,000.
Bitcoin Green is an exciting project with a rapidly growing community. To learn more visit any of the links below.
This article was brought to you by a member of our Community Speaks team. The Community Speaks team is made up of members of different project communities who want to make their voice heard in the Altcoin Buzz community. If you are interested in becoming part of our Community Speaks team please contact @Garrett59 on telegram.