BitBar
BitBar is a cryptocurrency designed to be extremely rare and thus hold a larger store of value per unit than conventional cryptocurrencies such as Bitcoin
Bitbar was designed to be a storage of wealth in the same way Bitcoin is, however with the addition of Proof of Stake another level of Security was added. This mechanism gives users who don't have access to specific mining hardware the ability secure the network as a shareholder by staking, while generating rewards at a level of inflation to mimic the real world
Bitbar was built from the Novacoin codebase and still uses the Scrypt hash algorithm. The continuous exponential difficulty adjustment and reward adjustment came from Peercoin, which makes Bitbar mining very ASIC resistant - as hashrate increases, the difficulty increases to maintain to 10 minute block time, and block reward decreases.
Based off of Balthazar’s Novacoin code, as well as RareCoin and Fairnova projects, Bitbar also has a 5% annual PoS return on staked coins. Proof of Stake is not only good for investors, but also an energy efficient way to generate blocks for the blockchain. There was a de-synchronization issue that was noticed and fixed in Bitbar by the developer of Peercoin, Sunny King
How long does it take to stake
Proof of Stake blocks are eligible after 30 days.
Rewards also depend on Coin age of transactions. Every transaction is eligible for POS
after 30 days, and up to 90 days. If a transaction is left untouched for 30 days, it will
begin to try and stake a block on the network. If it stakes at this point, the transaction
will split into two smaller equal outputs totaling the initial stake amount.
At 90 days, it would be considered fully Mature and when it stakes, it would not split
into two transactions, and the reward, if eligible, would be added to the original
transaction.
Once the transaction is older than 90 days it does gain extra coin age, but the proof of
stake reward will not grow past the 90 day full maturity level.
At the time of this writing, around 4-5 BTB would be required at full maturity to stake
interest. If you want rewards, you will have to combine your mined blocks into a large
enough transaction meeting the criteria above to gain reward. , and can take longer
depending on the amount being staked.
For maximum stake, one must wait 90 days. (Also wallet cannot be locked)
Height 275595
Supply 37214.28831600
Difficulty 2495.57773510
Network hash 14.88 GH/s
Reward 0.07187500
Connections 21
Port 8777
RPC port 9344
For more info you can join here
Discord : https://discord.gg/pWBUNu8
twitter : https://twitter.com/spider_BTB
web : https://bitbar.co
