Bitnet is based on the idea that Ethereum, though greatly innovative and powerful, is not really decentralized. The reasons for this are elaborated in the project’s white paper. Bitcoin on the other hand is truly decentralized and seen as a store of value. However, Bitcoin fails to offer enough technology and doesn’t implement the right monetary policy to function as a real currency. For Bitnet, success is defined by its widespread adoption as a form of currency. Its mild inflationary policy is designed to incentivize daily use, and the programmability built-in will allow for the existence of private and sovereign money on a truly unstoppable and secure network, inherently offering interoperability, accountability, and transparency to other currencies.

To achieve this, Bitnet needs to further develop its scalability technology. It must do this without abandoning proof-of-work, aiming to be as fast as most PoS networks but without compromising security or decentralization. The community needs to grow, willing to bridge the gap between Bitnet and fiat money. Using BTN as a currency is crucial. There’s a need to create a deeply liquid market. This will help incentivize the adoption of Bitnet by merchants across various jurisdictions. Also, introducing new money into the Bitnet ecosystem needs to be incentivized.