Bean Cash

Bean Cash

BITB
$0.000009666%-30.79

Key Metrics

Price$0.000009666
Real Volume (24H)$23.94
MarketcapN/A
Fully Diluted ValuationN/A
ATH$0.04238256
ATH Date1/6/2018, 12:00:00 AM
ATL$0.00000114
ATL Date1/20/2023, 5:24:25 PM
Circulating SupplyN/A
Total Supply50B
WebsiteN/A
WhitepaperN/A
Popularity Rank6185
Chart
What is Bean Cash?

Bean Cash (BITB) is a digital currency designed for fast transactions, scalability, and speed. The platform was formerly known as Bitbean and has been rebranded with an aim to become an enduring digital currency. The project claims to be the first cryptocurrency that implemented a block size of 20 megabytes, and it has also introduced a static block reward system known as Proof of Bean that is more powerful and efficient than Proof of Work.

Bean Cash aims to be an energy-efficient protocol that doesn't require a significant amount of electricity to operate. The platform also seeks to improve transaction speed and lower transactional costs, which would make it an affordable cryptocurrency for everyone worldwide. Its primary objective is to build on the original Bitcoin protocol and become a digital currency used in the real world.

One of the unique features of Bean Cash is its sprouting process. Any user who holds the native token of the platform, BITB, and participates in the network is called sprouting. This process verifies transactions, uploads them on the network, and makes them immutable. Users who participate in sprouting provide computing resources to the network and are incentivized for each new block made by the node. This process is known as Proof of Bean, which is also called version 3.0 of Proof of Stake.

Bean Cash is also working on another technology known as Proof of Resource. In this consensus mechanism, nodes provide computational power to create cloud computing and receive an additional reward in return.

BITB is a utility token used for daily transactions. Users who hold the BITB token and act as nodes on the network are provided with such tokens as a reward. The maximum supply of the BITB is 21 million. The Bean Cash network started on February 13, 2015, under the name Bitbean. However, the project faced trademark issues with another company and renamed itself Bean Cash in 2017.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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