bitcoinR Fact Sheet
bitcoinR Fact Sheet:
bitcoinR is a cryptocurrency that is focused on meeting regulation standards of the United States government in terms of ICO regulations and anti money laundering "Know your Customer" statutes, The coin also features a hybrid centralized and decentralized approach that it plans to utilisize with Federal Reserve like strategies to make its price more stable than other crytpocurrencies. It describes this on its website as:
The bitcoinR currency (XBR) was created to serve as a regulated-global-reserve-currency with a fixed supply and transparent valuation. XBR is further intended to back select utility token offerings of merit by providing a fixed exchange rate.The mining of bitcoinR is also meant to be more egalitarian and uses Evan Duffields X11 difficulty modifying hash to put home computers on an even playing field with larger instutions that have begun to take over Bitcoin Mining market.
Darkstreet researchers see bitcoinR as a seperate category of crypto coins that seek Government and Institutional approval, in some sense this is the opposite end of the spectrum from the privacy coins like Monero, and Dash.
bitcoinR interview on CryptoBubble podcast
Name: bitcoinR (Bitcoin with an R for regulation)
White Paper - Philosophy: http://www.bitcoinr.org/whitepaper/
Founder: Nicholas Chavez
Founder Twitter: https://twitter.com/thegrandchavez
Centralized Company: http://digitalgoals.com/
Token Partnerships: bitcoinR can be used to back token projects. Details on this feature can be found at: http://www.bitcoinr.org/partners/token-partners/
bitcoinR features an active community on Twitter as well as a forum on Discord:
To join the bitcoinR Discord Server use the invitation: https://discord.gg/RyGAe8B
There is also a podcast that features the co founder of bitcoinR called the crypto bubble podcast. You can find a link to its shows here: http://www.bitcoinr.org/about/podcast/
Date Created: March 2018
bitcoinR is a hybrid peer-to-peer transaction platform with decentralized nodes & centralized governance. The structure of bitcoinR is designed to balance power between holders of cryptocurrency, miners and a central company called Digital Goals.
Hash Function: X11
Total Max Outstanding Possible: The maximum amount of Dash is set to be ~21 million the same as Bitcoin.
Block Reward Amount:
In the Reward Era One the reward for maintaining consensus on the bitcoin network by mining one block will be 105 XBR currency units. The reward will then be halved every 50 thousand blocks.
From website: http://www.bitcoinr.org/faq/
The bitcoinR network is designed to produce a block every 180 seconds. This block creation time is 70% shorter and more than 333% faster than the time necessary to generate a block on the Bitcoin Core network.
From website: http://www.bitcoinr.org/faq/
bitcoinR was developed by its founder Nicholas Chavez along with a team of experts with the goal of creating a cryptocurrency that could be more stable and operate openly in the financial legal frameworks of the United States. The team felt that by attempting to meet the legal standards the coin would eliminate some of the moral hazards of using Bitcoin as well as be more accepting by Governments and larger institutions.
The coin was created in March 2018. bitcoinR has yet to release via an ICO as the team is working on ensuring that it meets all legal standards imposed on such instruments by the SEC.
As the ecosystem involves a centralized company called Digital Goals investors can also choose to invest in it as opposed to the coin.
One of the advantages of having a legal entity to act as a centralized pillar in the currencies ecosystem is the ability to both use its clout to create price stability as well as to back projects through its X:Y program. The X:Y Program allows for a select group of Token Projects to be backed by bitcoinR digital currency. The White Paper describes this feature:
XBR will back select utility token offerings of merit with a pegged, actionable exchange rate, up to a 1,050,000 XBR unit cap.And sets up a variety of requirements for token projects to meet. The projects can be on platfroms that include Ethereum, Stellar, EOS, Harbor, NEO and Enigma. X:Y Program aim is to add immediate new investors into the space of bitcoinR, fund new projects, and also to provide the bitcoinR currency with an immediate use. Details on the X:Y Program can be found on the website at: http://www.bitcoinr.org/partners/token-partners/.
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