Bitbeans (Ticker: BITB) is a new crypto currency designed for scale-ability, speed and lightening fast transactions! It features an innovative Proof of Stake algorithm that more closely resembles traditional Proof of Work crypto currencies. BitBean is the first crypto to impliment 20MB blocks, based off Gavin Andersen's proposals to fix Bitcoin's scale-ability limitations. BitBean is designed from the ground-up to be transaction-centric and superior form of currency for on-line and brick-and-mortar businesses. Inovative new implimentations are planned for BitBean that will set it appart from the rest of the crypto curriencies and lead in the mass adoption of crypto curriencies in the market place.
It is the goal of the BitBean developers for everyone involved in the Cryptocurrency revolution to have access to the exciting developments that have been taking place. An ASIC-friendly, mixed PoW/PoS coin with eventual anonymous transaction capabilities has been sorely overlooked.
The BitBean developers believe that progress should never be held back. Proof of Stake Crypto-currencies use a considerably smaller amount of energy and allows everyone to be involved in the network, without prohibitively expensive propriatary hardware as required to mine Bitcoin. The energy used mining Scrypt beans for years to prolong the days of GPU mining was a truly enormous waste of resources on a global scale. Why hold back progress? BitBean encourages it, allowing everyone with even a small investment in BitBean to participate in the network and currencies success!
Coin Generation: Pure Proof of Stake with Proof of Work period upon release
Proof of Work Algorithm: SHA-256
Total Number of Coins: 22 million
PoW Block Reward: 100000 BITB
PoW Blocks: 10000
PoW Target Blocktime: 1 minute
RPC Port: 22461
Port: 22460
Time to Maturity: 100 Confirmations
Proof of Stake Reward: 1000 per block
Minimum Coin Stake Age: 6 hours
Sprout = 1,000 BitBeans
BitB = 1 BitBean
mBitB = .001 BitBean
uBitB = .000001 BitBean
nokat = .00000001 BitBean
www.bitbean.org
Twitter: @BitBeanCoin
admin@bitbean.org
#bitbean on the Freenode IRC Network
#teambean on the Freenode IRC Network
Developer support: #beancore on the Freenode IRC Network