Bitspace [BSX] - Hybrid POW/POS | Nist 5 | highly profitable, global cryptocurrency ecosystem
Cryptocurrencies have already changed the world over the past few years. Bitspace is here to join the economy revolution with it´s decentralised cryptocurrency ecosystem.
A highly profitable, global cryptocurrency ecosystem that doesn’t rely
on banks or financial institutions.
The BitSpace team intends to implement the extended functionality of Bitspace Ecosystem by incorporating such applications as BSX miner program, BSX Exchange, BSX bank and BSX Platform for renting and leasing rigs + Algorythm convertor. Implementation of those products seeks to expand the coin’s sphere of circulation, thus driving demand for it.
BSX is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. BSX uses peer-to-peer technology to operate with no central authority,
BSX blockchain also summarizes the best characteristics of digital currencies, which were issued earlier (Bitcoin, Peercoin), such as: increased security, fast consensus mechanism, and increased decentralization achieved by requiring miners to prove the knowledge of the transaction data.
Algo: Nist 5
Block time: 60 seconds
POW block reward: 100 BSX
Last POW block: 450010
Block maturity: 30 blocks
POS starts from block:1
POS yearly interest: 10%
Min. stake age: 24 hours
Max. stake age: unlimited
Decimal places: 8
Min. sending fee: 0.00001 BSX
Premine : 10% (reserved for ICO)
RPC Port: 13250
P2P Port: 13252
Bitspace is a hybrid POW/POS coin
Both Proof of work and Proof of stake protocols are running at the same time.
Normally you mine with your computer (rig) and get coins as a reward.
With BSX you can also mine via holding coins in your wallet.
Proof of work
Proof of work is a mining process in which a user installs a powerful computer or mining rig to solve complex mathematical problems (known as ‘‘proof of work hashes‘‘)
Once several calculations are successfully performed for various transactions, the verified transactions are bundled together and stored on a new ‘‘block‘‘ on distributed ledger or public blockchain
Mining verifies the legitimacy of a transaction and creates new currency units.
Proof of stake
Proof of stake is an alternative process for transaction verification on a blockchain.
It is increasing in popularity and being adopted by several cryptocurrencies.
To understand proof of stake, it is important to have a basic idea of proof of work.
BSX uses POS based on yearly interest. Which is set to 10% per year.
Coins (input) have to be older 24 hours. Maximum age is not set.
Explanation of POS 10% interest per year
Basically you get a certain percentage of your coins as a reward.
Some people think, They can ‘‘earn‘‘ here, but that´s nonsence, because if the market cap stays stable, the single coins are worth less, if new coins are generated.
So you just ‘‘keep‘‘ your value, if you are staking. And ‘‘loosing‘‘, if you are not….
Its like in a bank if you get 10% interest , and the inflation is 10% as well.
You only ‘‘earn‘‘, if there are transaction fees . They are also payed to the staker
Bitspace is a POW/POS hybrid
POW and POS starts from 1st block.
POW block reward is constant 100 BSX per block.
POS interest is 10% early.
POW mining phase will last for one year. And It will end at block 450 010.
After POW ends. Bitspace will be auto switched to pure POS.
Distribution of Premine
5 000 000 BSX (10% of total coins)
4 500 000 BSX will be sold in ICO. (Ico is over. We collected 1.21 BTC)
250 000 BSX will be used for bounties
250 000 BSX is Developers’ and advisors’ capital
How To Install Ubuntu Mate On Raspberry Pi 2 And 3?
Ubuntu MATE is an excellent operating system for computers, especiallyGuide how to install Ubuntu Mate
those with limited hardware capabilities. Ubuntu MATE on Raspberry Pi 2
and 3 also performs perfectly.
Then you can connect to it using Putty or directly on it through Terminal
sudo add-apt-repository ppa:bitcoin/bitcoin sudo apt-get update(edited) sudo apt-get install libdb++-dev sudo apt-get install libdb4.8-dev libdb4.8++-dev sudo apt-get install libssl-dev libdb-dev libdb++-dev libqrencode-dev sudo apt-get install libboost-all-dev then chmod the wallet to 755 and run it …
How to mine Bitspace
Nist5 is only GPU mineable. (no asics) POW Mining period will end at block 450 010. Is should be around 9-12 months of mining.
What you need to mine Bitspace?
1. Wallet 2. Miner Software 2.1 Miner Configuration
For nVidia cards we recommend using CCminer.
You can download ccminer according to your Operating System:
For AMD cards we recommend using SGminer
SGMiner : https://github.com/nicehash/sg...
Miner configuration (ccminer)
2.1.1 Create a new launch file (“mine BSX on minebsx.bat” using notepad or notepad++ under windows) and paste the following command into it:
ccminer-x64 -a nist5 -o stratum+tcp://pool.xxxxxxx.net:13250 -u B7DF5cqq8nvnfD9wLAutgchB9hjJz8jdjZ -p x –cpu-priority=3
This example is for pool mining. Change pool value + BSX value. (p is password)
1. Download wallet and install it.
2. Go to C:\Users\t\AppData\Roaming\bitspace
3. Edit *bitspace.conf* (using notepad or notepad++ under windows)
copy and paste folowing:
Rpcuser + rpcpassword can be changed. Use strong password!
4. Download miner software
Create a new launch file (mine BSX on
“bsxsolo.bat” using notepad or notepad++ under windows) and paste the following command into it:
ccminer-x64 -a nist5 -o http://127.0.0.1:3210 -u ”your rpc user” -p ”your rpc password” –cpu-priority=3
You are now soloming into your wallet.
(also make sure your wallet is running while mining)
Vote for BSX
Bitspace (BSX) New Exchange Update
Bitspace (BSX) is now trading on the CryptoBridge Decentralized Exchange! https://t.co/4upw8uXZK5