SWITZERLAND – There is a new decentralized currency that is making waves today in the crypto space. It is called: Bitcoin Token (BTCT), and many are raving about its fast adoption. In less then a month 10 entire crypto tokens are swapping into the BTCT Chain ie (MRO, EBT, GRND, EROS, TXT, TMB, DET, REMI, DOGP and CYBG). This has equalled to an immediate community of over 300,000+ people who are tracking and following with Bitcoin Token developments.
Supreme focus on Decentralzation
Another interesting note about BTCT is their supreme focus on decentralization. This has already materialized in their radical approach to gathering many communities around them to start with. And the team underlines this point on their website:
“There is no central control over the currency. Bitcoin Token is open source, community driven, decentralized. Developers are all volunteers. The Bitcoin Token community and developers are working towards mass-adoption of the use of the currency in real-life. From encouraging local busineses to accept Bitcoin Token as a method of payment to the entry level person sharing Bitcoin Token with a friend. Share money, wire money, or just send a gift to a friend, BTCT will make this possible!”
Unique Features of Bitcoin Token BTCT
What are some features that set BTCT apart from other altcoins that are forks of Bitcoin?
1) Low Fees and Deflationary!
Currently, the fee to send a $25 Bitcoin transaction, e.g. to pay for a decent meal, is $0.42. The same transaction, paid with Bitcoin Token (BTCT), would cost less than $0.01. i.e. Almost free! BTCT is also deflationary after the 3 years mining period each transaction will burn 0.0001 of the supply.
2) Energy Efficient
Bitcoin Token is eco-friendly as it does not require any traditional computationally demanding miners to run its network. BTCT is not 100% unique in this area but are joining a group of several Proof of Stake (POS) coins that run off laptops and very simple systems opposed to Bitcoin that requires large amounts of energy to run and mine the network.
3) No Banks
Bitcoin Token (BTCT) is a digital currency. It uses peer-to-peer technology to operate with no central authority or banks; managing transactions are carried out collectively by the network. Maybe this is cliche but the BTCT team is committed to this decentralized vision, with no foundation or any control over itself, meaning its an open source protocol just like BTC.
With tons of new coins and tokens being minted monthly, this does feel different with a sense of the original vision of Bitcoin in place. It might appeal to some of those older crypto hardcore decentralization fanatics. As well as teach a new generation getting into crypto what it originally started as with its goals.
Radical Quotes about Bitcoin
Some quotes about original Bitcoin that could really apply to Bitcoin Tokens vision also:
“I think the internet is going to be one of the major forces for reducing the role of government.’ – Professor Milton Friedman, a Nobel Prize winner in economics
“Bitcoin was created to serve a highly political intent, a free and uncensored network where all can participate with equal access.” – Amir Taaki
“Bitcoin is the currency of resistance.” – Max Keiser
“Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.” – Edmund C. Moy
Excited yet? Looking to get involved?
This post was originally published on Commerce Gazette