Skip to content

Latest commit

 

History

History
119 lines (98 loc) · 6.07 KB

FAQ.md

File metadata and controls

119 lines (98 loc) · 6.07 KB
Raw

All Bitgrin information in once place

Bitgrin is a implementation of Mimblewimble, a new blockchain protocol in development for over 3years.

Bitgrin follows Bitcoins emission curve which proved to hold and increase value over a long period of time.

Bitgrin is totally private from the protocol level up, this means the privacy is not added on top like previous privacy coin implementations.

Bitgrin is based on strong science and years of cryptographic breakthroughs and research

Bitgrins blockchain does not have addresses on the base layer, does not have previous transactions or shows transaction amounts.

Bitgrin is a true cypherpunk decentralized project, that means there is no "official source" for anything per se.

Here is a simple example of a Bitgrin transaction vs Bitcoin transaction

text signifies it being private to everyone.

Bitgrin transaction Bitcoin Transaction
TXID (Commit) TXID (Commit)
Transaction amount Transaction amount
Originating address Originating address
Destination address Destination address
Non-zero proof (Range proof) Range proof not needed

FAQ

Legal entity of the project

  • Bitgrin is not an ICO or a legal entity registered with any government authority
  • Bitgrins developers choose to be anonymous on purpose to bolster the projects decentralized nature
  • Bitgrin currently has 3 full time developers
  • Bitgrin has numerous contributors and about 3 additional part time developers amongst them.

Project Information

Name
  • Bitgrin
Main website
Whitepaper
Project position/brief description
  • Bitgrin is a privacy coin based on solid science and solid proven economics from Bitcoin.
  • Bitgrin is born from frustration of no better privacy coin options.
  • Bitgrin wants everyone to be able to use a completely private cryptocurrency, and not be worried about it inflating away.
  • Bitgrins developers are driven by that singular goal, this means years of development of ease of use software.
At what stage is the project? Is there a product prototype or beta?
  • Bitgrin mainnet started Febuary 2019
Main competitors
  • Our main competitors are over privacy coins Zcash, Monero, Grin, Beam, Dash, Veil (...)
  • Bitgrin outpaces the current crypto market, as the most private and the most user friendly. Topping the cake with strong economics borrowed from the current incumbent (Bitcoin)
Number of nodes
  • Everyone can run a node, concurrent node numbers are currently estimated to fluctuate between 50-100.
Block explorer

Note Block explorers are largely useless in Bitgrin as nothing is clear text and everything is completely blinded.

Source code

All of the source code is open, compile-able and completely transparent.

Upcoming upgrades or releases
  • Bitgrins wallet Kingfish is getting an update shortly allowing it to easily work with 3rd party software (Javascript)
Developement community
  • Bitgrin is a open source decentalized collaborative project, everyone can edit the source code and improve it
  • Bitgrin currently has 2 senior full stack developers working full time on improvement of the code base and ease of use as well as facilitating 3rd party adoption
  • Bitgrin has Kingfish Javascript, Javascript Bitgrin libraries and web-wallet in current development as well as several improvements to the underlying code base.
Update channels

Tickers and project info

Ticker
  • XBG
Is Bitgrin ERC20?
  • No bitgrin is its own blockchain and was never a token, Bitgrin will have tokens on its blockchain in 2020.
Largest wallet addresses
  • Bitgrin has no wallet addresses, and its impossible to tell who has how many coins
Distribution
  • Bitgrin is minable, following Bitcoins emission schedule. 5Bitgrin is created every 10miutes for 4 years, after that every 4 years that emission will halve leaving a maximum of 21 000 000 XBG that will ever be created.
Decimals
  • Bitgrin is divisible by 10^-9
Safe amounts of confirmation
  • We currently recommend 700-900 confirmations

Financing

Participating VCs and institutions
  • Bitgrin was fairly launched therefor there was no incentive for any VCs or institutions to fund its development
  • Bitgrin did not have a sale or an ICO
  • Bitgrin has a developer fund, unlocking 1 000 000XBG over 4years. ~20 000 each month. Use of this funds is transparent and documented in https://bitgrin.substack.com/
Listed exchanges
  • Vinex https://vinex.network/market/BTC_XBG
  • Listing of exchanges is completely volontary on exchanges discretion, upon request we provide technical help with integration
  • Upon communities request Bitgin developer fund can be used to fund exchange fees/incidentals
Coin holder rights
  • Everyone holding Bitgrin has the same rights to improve the project as well as transact on the blockchain without any intervention
  • Given enough backing the community can do everything they please with the blockchain

Community information

Plans and budgets for exchange corporations

  • As stated above one of Bitgrin development fund purposes is covering listing fees and incidentals and can be negotiated