SilverBit - The Digital Silver
SilverBit token is forged with Proof of Stake. Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e. the stake).
In contrast, the algorithm of proof-of-work (PoW) based cryptocurrencies (such as bitcoin) uses computationally intensive puzzles in order to validate transactions and create new blocks (i.e. mining) Proof of stake is a different way to validate transactions based and achieve the distributed consensus.
Stake your SilverBit, its free tokens!
Proof-of-Stake just like Proof-of-Work is a mechanism that allows the network to confirm transactions and prevent fraud. However, it does not require any resource intensive calculations to be performed. The only reqirement is to have some SilverBit in your balance. Tokens can be earned by keeping SilverBit tokens for a period of time greater than or equal to the Minimum Coin Age.
SilverBit is a digital token that allows people to send money anywhere in the world instantly, securely and at near zero cost. It focuses on creating a multi entry, high rewards monetary system that empowers people to achieve financial freedom through blockchain based technology.
The Reason For SILVER BIT
There will be only 7.5 million SilverBits created, making this one of the most scarce electronic commodities.
Holders of SilverBit can earn extra tokens just by holding SilverBit for a period of time, greater than or equal to The Minimum Coin Age
The moment you acquire SilverBits it becomes an asset, a storage of wealth, with built in software facilities that increase it’s value over time.
Security lies at the core of SilverBit. Transactions are secured by the state of the art security algorithm. Thanks to advanced cryptography gaining access to your account is practically impossible.
SilverBit has been designed to be excellent for quick transfers. Masternodes powered by Ethereum blockchain significantly reduces confirmation time while fast block times ensure unparalleled speed.
The fixed supply mechanism gives SilverBit deflationary characteristics and with increasing demand SilverBit prices will rise. Unlike other coins that have an unlimited/high circulating supply that can be diluted by adding more coins thereby decreasing their value.
Proof-of-Stake approach not only dramatically reduces carbon footprint but also dramatically lowers electricity consumption making it environmentally friendly.
1 ETH = 1500 SilverBit
Name : SilverBit
Symbol : SLV
Decimals : 8
Maximum Total Supply : 7,500,000
Initial Supply : 2,250,000
Minimum Coin Age : 3 Days
Maximum Coin Age : 90 Days
Token Sale Allocation
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.