Bitnet

bitnet-logo-blue-white-64

Bitnet is a new peer-to-peer blockchain and financial network – made for billions.

Bitnet's Transformative Impact on Various Sectors:

Individuals

Businesses

Financial Sector

Public Sector

Non-Profits

Creatives

Visionaries

Developers

Bitnet Explained

Bitnet officially launched with its genesis block on July 14, 2023. As a groundbreaking peer-to-peer blockchain network, Bitnet enables the creation of financial systems for billions of people. It is fully decentralized, similar to Bitcoin, and more powerful than Ethereum.

Promoting transparency and trust, Bitnet is open-source and remains uncontrolled and unowned by any single entity. It operates seamlessly without the need for a central authority, ensuring accessibility to anyone, anywhere. Bitnet’s technology facilitates the tokenization of value, catering to both sovereign and private monetary systems.

Bitnet's Fair Launch

In an industry where regrettably most blockchain and crypto projects launch unfairly, Bitnet introduces a fair approach right from its inception. With no pre-mined coins, no preferential treatment for its founders, and complete independence from venture capital influence, Bitnet guarantees equal opportunities for all.

This deliberate choice to deviate from widespread, questionable practices underlines Bitnet’s firm commitment to principles of decentralization, equal access, and community engagement. Standing in sharp contrast to the majority of blockchains and cryptocurrencies, Bitnet championed a launch strategy rooted in fairness and transparency.

Bitnet vs. Bitcoin

Bitcoin, as the original cryptocurrency, aimed to reshape the financial landscape by offering peer-to-peer transfers without intermediaries. Bitnet builds upon this vision, not just enabling mere transactions. Instead, it introduces programmable money and holistic financial systems, functionalities far beyond Bitcoin’s original scope.

On the technological front, Bitcoin has faced challenges, including scalability issues and high transaction fees, which often deterred potential users. In comparison, Bitnet, drawing from Ethereum’s advancements, overcomes Bitcoin’s tech shortcomings. With enhanced efficiency, speed, and affordability, its user-centric design sets new crypto benchmarks and appeals to a wider audience.

Furthermore, during Bitcoin’s early phase, a substantial portion was acquired by initial backers, leading to distribution concerns. In contrast, Bitnet ensures that all its coins are generated solely through direct computational efforts, ensuring a fair distribution from the outset. This approach underscores Bitnet’s commitment to fairness and equity in the cryptocurrency landscape.

In summary, while Bitcoin pioneered the decentralized finance movement, Bitnet seeks to refine, elevate, and broaden its scope. The emphasis on inclusivity, fairness, and adaptability distinctly positions Bitnet in the dynamic cryptocurrency landscape.

Bitnet vs. Ethereum

While Ethereum promotes itself as a decentralized platform, it faces criticism for its centralization tendencies. Certain entities and figures within the Ethereum community, because of their significant contributions, holdings, or staked amounts in the new Proof of Stake system, may influence protocol changes. This mirrors how powerful entities shape decisions in systems like governments or corporations.

Bitnet, on the other hand, was founded on pure principles of parity, fairness, and decentralization. Having no central owner or authority makes Bitnet censorship-resistant and truly unstoppable.

Furthermore, approximately 72 million of all the Ether (ETH) in circulation were created before the network’s launch. They were distributed among the founders, the Ethereum Foundation, and early investors and contributors.

In comparison, no Bitnet (BTN) was allocated to founders or contributors neither before nor after the network went live. Every existing Bitnet (BTN) results from the exchange of energy and computational power, with miners contributing to the network in return for these coins.

Bitnet vs. Ethereum vs. Bitcoin

Comparison Table

Feature Bitnet Ethereum Bitcoin
Launch Date/
Genesis Block
07.2023
07.2015
01.2009
Currency
Symbol
BTN
ETH
BTC
Consensus
Mechanism
PoW
PoS
PoW
Transactions
per Second
~476
~30
~7
Maximum
Block Size
150Mb
30Mb
1Mb
Block
Rewards
1 BTN
Variable
6.25 BTC
Network
Fees
Low
High
High
Monetary
Policy
Hard-
coded
Flexible/
Variable
Hard-
coded
Pre-mined
Supply
Zero
72,000,000
ETH
Zero
Founders & Team
Allocation
Zero
12,024,000
ETH
Zero
Smart Contracts
Support
Yes
Yes
No
Common Token
Standards
BTS20, 21
721, 1155
ERC20, 721,
1155
N/A

Bitnet's Uniqueness

What makes Bitnet truly unique, in addition to the strengths compared to Bitcoin and Ethereum, are the groundbreaking Bitnet Token Standards. These standards are poised to revolutionize the blockchain landscape for several compelling reasons, while simultaneously offering 100% compatibility with Ethereum’s established ERC standards.

Appealing to the ones prioritizing the safety of their digital assets, Bitnet enhances security and control with the BTS21 Token Standard. Moreover, Bitnet’s commitment to innovation is evident with the BTSHCE Token Standard, designed for high-compliance scenarios, showcasing its dedication to integrating digital currencies into various sectors.

Another cornerstone of Bitnet’s approach is the enhanced functionality introduced by the Bitnet Token Standards, particularly beneficial for DApps and DeFi platform developers, offering a more versatile set of features. Lastly, simplicity is emphasized with its token creation process distilled to just two lines of code, making it accessible for aspiring token developers.

In summary, the Bitnet Token Standards (BTS) stand out for their compatibility, simplicity, expanded functionality, innovative compliance solutions, and heightened security and control. These qualities firmly solidify Bitnet’s position as a truly unique and forward-thinking player in the blockchain industry.