[ICO] BitherCash - Hybrid | Scrypt PoW/POS | better and secured future via principles of Pure Lending.
BitherCash is a highly secure peer to peer decentralized
cryptocurrency using the Scrypt PoW/POS (Hybrid) Algorithm with a
self-regulated financial system which allows users to earn BitherCash
through Mining, Staking and by buying with Bitcoin, Ethereum And
Bitcoincash during the pre-sale phase and then via BTC only once
the main investment portal is live. A sophisticated method of difficulty
that re-targets every block. This currency is like the Dollar, but it is only
available in the digital world. The concept may sound like Bitcoin and
is actually not much different from bitcoin. A total of 55million
BitherCash coins will be minted. This is done via natural supply and
demand and through general market fluctuations the price will rise
and fall accordingly, but obviously, the more the demand, the more
the coin will rise in price, giving all those holding BitherCash an
incentive to Stake from their wallets 2% per year on average.
BitherCash offers a lending program and referral program which pays
the lender a daily dividend on their investments and the user will
receive their initial investment back at the end of the loan period.
BitherCash gambling on-chain project will be launched for people
using BitherCash coin to play and purchase with a verifiable trackrecord,
low execution cost, and their favorite choice of games.
MINING PROCESS OF BITHERCASH
Without going into too many details, we need consensus because
anyone can create a block; while we only want a unique chain, so we
want a way to decide which block we should trust.
Mining is a process of validating a transaction or block in a network
by the process of complex algorithms to prove and validate the
correctness of the transaction and thereby add the new block to the
chain. You would have heard this term “mining” and “miners” more in
bitcoin than altcoins. What does it take to be a miner and do mining?
You need to have high power-processor-based computers running
continuously with the complex mining algorithms.
When a transaction happens in BitherCash coin, the more the
computing power, the more the computers you have, you may get to
validate the transaction faster than other miners in the network and
hence may earn a fraction of a BitherCash coin as a reward.
BitherCash uses the Script Proof-of-Work (PoW) algorithm along with
Proof-of-Stake (PoS) for network security.
PROOF OF WORK (POW)
Proof of Work (PoW) as the name states is the validation of the work
that happened and proving it is correct. BitherCash coin follow this
way of consensus to make sure the authenticity of the chain is good.
To understand how it works in simple terms, assume that you are in a
math exam along with other students in a classroom. The student who
can, not only come up with the correct answer but, also can come up
with the complete proof (steps in math terms) of arriving at the correct
answer first gets the reward. As we know this needs the student with a
lot of brain power which naturally consumes a lot of energy from the
Now mapping it to the cryptocurrency world, “math exam” refers to the
“transaction”, the “classroom” refers to the “world”, “Student” refers to
the “computing hardware/computer” that runs the complex algorithms,
“brain power” refers to the “computing power” and the “lot of energy”
refers to the “lot of electric power”.
PROOF OF STAKE (POS)
Proof of Stake (PoS) is an alternate way of verifying and validating
the transaction or block. This will pick the Validator (Equivalent of
“miner” in the PoW) by the amount of stake (coins) a validator has and
the respective age of the stake. If you have 100,000 alt coins (let us
say Nxt coin which uses PoS) in a wallet, it will have an age attached
to it on how long you have it. Here the 100,000 Nxt coins are the
stake. If you move your coins from one address (or wallet) to another,
the aging gets reset. This amount is like the security deposit which
means the Validator holds a significant stake in Nxt coin with good
aging is more committed and combined with many other factors, will
get a higher chance to validate a block. This allows building a
trusted and distributed network with loyal Validators (high stake of
coins). The Validators earn the part or whole of the transaction fee. In
PoS, it is not “mining” but “forging” which is done by the Validator who
will process and forge a block to the chain.
This eliminates the below challenges and believed to have an
No need for expensive hardware (a normal laptop or computer
running BitherCash coin’s Validator client will do as long as your
laptop or computer is online)
Energy efficient as it won’t consume high electricity
More loyal Validators …As higher the stake, the Validators have
for a long time, more chances for the Validator to be picked up
for “forging” and earn the transaction fee
In PoS, each validator owns some stake in the network, BEC in the
case of BitherCash, which they bond. Bonding stake means you
deposit some money into the network, and in some sense, use it as a
collateral to vouch for a block. In PoW you know a chain is valid
because lots of work is behind it, while in PoS you trust the chain with
the highest collateral.
The infographic below explains the working concept of our mining
BitherCash can be mined with Scrypt ASIC machines just like Bitcoin or
you can simply keep your wallet open to stake your Credence using
standard CPU on PCs. If users choose to mine, it will be a flat reward
of 1 Coins per block. Mining pools will be added to the official ANN
thread on the www.bitcointalk.org website.
ABOUT OUR LENDING PROGRAM
Below is our lending program. Anyone can lend in our lending portal
using Bithercash coins. Below you can check our investment slabs and
your monthly profit on investment.
The majority of initial loan, the money will be held in offline cold wallets
with multi-signature protection for any large withdrawals. So, your
seed money is secure, no matter what. You will have the option to
reinvest any profits earned and therefore commence a new contract
at that rate starting on the date you reinvest, you will also have the
option to auto-reinvest your profit earned. Profit will be added to
your investment amount every month. And from next month you will get
profit on total amount. This will not change your holding period. You
will get your investment after end of minimum holding period. This also
increases your monthly profit amounts earned on your loan.
Reinvestment figures on profit earned will be rounded down to the
nearest BEC token number and the remainder will sit in your BEC
Wallet. All loans and profit credited to your account will be paid in
BEC only. So, when you receive your monthly profit you have the
option of converting that into BTC for withdrawal.
At the end of the loan contract term, the same will apply, you will
receive payment in BEC equivalent to the total number of BEC’s you
loaned at the beginning of the loan term and will have the same
option of reinvesting by taking out a new loan or cashing out to BTC.
What we have achieved is a product of all of the good things about
HYIP sites but removed all of the bad things. For example, our ROI
rates will offer a daily pay-out, however, these rates are realistic and
sustainable unlike many of the HYIP sites out there that promise the
World, which is inevitably going to come crashing down and investors
lose all or most of their funds. We will not allow this to happen, all
investor's loans will be paid daily calculated profit.
We have a team of traders, some of whom are known Internationally
for their roles in Wall Street. (The actual Wall Street, not the movie)
and our investment strategy is both sound and robust. There will also
be people at home mining and stake this coin so, notwithstanding the
volatility of Crypto, and taking into account, every investment carries
some risk with it, we are confident this coin will continue to grow in
value and popularity as more and more people get on-board.
It is not a Ponzi scheme or the case of “You only win if you get in
early” as this coin is going to be on the blockchain forever and as
long as Electricity is around, so too will this coin be and you will see it
grow and grow, more so over time as people see we are here for the
long term and once initial investments are paid back, then more and
more people will re-invest.
BITHERCASH PLATFORM FEATURES INSTANT PEER TO PEER TRANSFER
The peer-to-peer payment system is electronic money transfers made
from one person to another through an intermediary, typically referred
to as a P2P payment application. P2P payments can be sent and
received via mobile device or any home computer with access to the
Internet, offering a convenient alternative to traditional payment
methods. BitherCash has the built-in functionality of peer to peer
payment that would facilitate the users to send and receive their
earned amount directly into their e-wallets without having to worry
about massive surcharges implemented on traditional payment
Peer-to-peer itself means BitherCash runs without having a central
server. The storage server is decentralized and distributed-divided
into various servers run by each user connected to the network.
BITHERCASH COIN DETAILS
LIMITED NUMBER OF COINS
BitherCash coin supply will only have 55 million coins worldwide, this
resembles an economic system based on deflation and with increasing
supply coin, BitherCash coin prices tend to rise, when demand is high
and the number of coins that remain is not increased.
TRANSFER MONEY EASILY
Just like Bitcoin, it can be sent anywhere in seconds, whenever and
wherever you want. Money transfer with BitherCash can happen only
with a smartphone's internet connection.
BITHERCASH TRANSACTIONS ARE ANONYMOUS
All the transactions we have done can be seen, but we do not know
who the owner of the BitherCash address is if the owner does not tell
it. Each BitherCash user can actually choose whether or not his name
will appear, but even if the user wants to keep his identity secret, all of
his transactions are still recorded and can be monitored through
TRANSACTIONS ARE FAST AND VERY EASY
You can transfer BitherCash to anywhere in the world as long as it is
connected to the internet. BitherCash will be deposited into the
1. Register via Web wallet or Download Wallet app,
2. Enter BitherCash Address from the transaction opponent and the
amount of BitherCash you want to transfer
3. Click on the send button.
BITHERCASH IS NOT CONTROLLED BY INSTITUTIONS OR GOVERNMENTS
Since BitherCash makes use of the Blockchain database, it means it is
not controlled by a third party but is so open to the public that it is
impossible for someone to forge transactions in Blockchain. All
transactions are recorded live, transparent, and spread across
multiple servers. Those who want to change or falsify BitherCash
transaction data must hack multiple servers at the same time.
HOW OUR COIN IS DIFFERENT FROM BITCOIN
In the world of cryptocurrencies, Bitcoin and BitherCash coin are not
much different, the difference is the opportunity as well as price. To
have one Bitcoin, you have to get ready for more than $7000.You
have a better opportunity of acquiring BitherCash coins because the
price is still very cheap and you have a chance for the price of the
ICO which is certainly something you can’t get in bitcoin before.
OUR REASON FOR MAKING USE OF BLOCKCHAIN
A lot of people know blockchain as an innovative technology
introduced together with its first use case – Bitcoin, a decentralized
peer-to-peer cryptocurrency. However, blockchain technology has
since also been used for business and organizational purposes, either
with a cryptocurrency of its own as a public blockchain or without
one as a private blockchain. While aspects of the technology are
seen as something that could be useful for such purposes, there are
some concerns as to why a business would want decentralization at
all, leading some too, incorrectly, dismiss blockchain technology as a
hyped-up trend and nothing more.
Below are a few business benefits attributed to decentralization with
Security: Since records are distributed across multiple areas
and are updated as each block is created, there is always a
high level of availability of the data. So, even if a large number
of nodes fail or are shut down by an attack, the data is still
available for people to access. In addition, since the system is
regularly updated with the latest block, accessing any of the
active nodes means acquiring the latest data, even in the event
of a DDoS attack – a highly-desirable trait for network security.
Distributed Processing: In addition to being able to access the
latest block from an active node, the system can also continue
to process additional data and add more blocks into the
blockchain. So, not only is the data accessible, the system can
continue operating as long as there are active nodes in the
system. Thus, if an attacker wants to shut down the system to halt
processing, they would need to shut down every node on the
blockchain, making it even more restrictive to achieve.
Partnerships and Consortiums: While partnerships and
consortiums are usually created with the best intentions and with
all of the necessary legal agreements in an attempt to protect
all parties involved, there still lingers the concern of trust,
especially in cases when the parties involved are in competition
in other areas. Because of the decentralized nature of
blockchain, the issue is significantly mitigated as trust is not
needed in terms of processing data as well as storing it.
Verifying that one has the same information that another party
has is relatively easy to do without the need for additional trust
among the parties involved.
These are just a few of the benefits businesses can have when using
blockchain technology due to its decentralized structure. With the
increasing number of businesses looking into solutions that blockchain
can provide, we’re sure to find even more benefits of decentralization
in the near future.
The original Scrypt algorithm was created by Colin Percival, for an
online backup service called Tarsnap. The technical definition of the
Scrypt algorithm is that it’s a ‘password-based key derivation function’,
which means that it derives a secret key from a password.
Percival deliberately designed the algorithm to be computationally
intensive to perform, requiring a large amount of memory to perform.
The purpose of this was to make brute force attacks more expensive
to perform. The idea behind this is that a person who knows their
password would be required to pay the computational cost of
performing the mathematical operation once, which would be
negligible, but a person trying to guess someone’s password would
have to pay the computational cost many times, significantly adding
to the cost and difficulty for the attacker.
ABOUT OUR SCRIPT MINING ALGORITHM
A modified version of the original Script was used as a Proof of Work
cryptocurrency mining algorithm by Litecoin in 2011.
This implementation was accomplished as a direct response to the
increasing dominance of ASIC computers in BitherCash coin mining.
BitherCash coin mining ASICs were designed specifically to perform
the SHA-256 calculations required, and are able to comprehensively
out-compete general purpose personal computers. This led to a
dramatic centralization of BitherCash coin mining with many players
priced out of the market, along with an increased barrier to entry for
Litecoin aimed to make Cryptocurrency mining more accessible and
more decentralized by being ‘ASIC-resistant’. Because Script is ‘memory
hard’, meaning it has high memory requirements, it is more suited to a
general-purpose processor and for this reason, it was chosen for use
Scrypt mining can be performed on a personal computer’s CPU but
can be performed even more effectively on a Graphics Processing
Unit or GPU. As a result of this much of the early Scrypt mining was
performed using graphics cards designed for gaming computers.
Today, ASICs are available for Scrypt mining.
Since 2011 many other altcoins have adopted and adapted the
Scrypt algorithm for both in Proof of Work and Proof of Stake systems
TOKEN DISTRIBUTION PRE-MINE EXPENDITURE
A total of 8.25 Million BitherCash coins will be made available to the
public at heavily discounted prices for the pre-sale phase before
Credence shifts to its full lending program and the main website and
exchange go live. These coins can be stacked immediately so you are
earning BitherCash coins prior to us launching.
Future planned upgrades will include adding more Currencies like
Doge and LTC to the main in-site exchange and the creation of
Our ICO will last for 45 days from the day of commencement and
each token will be sold at $0.55 to $1.20 during ICO.
Below is a distribution of how our tokens will be sold for the first 48
hours and every week.