About Bitcoin Green

Bitcoin Green is two things: first and foremost, a campaign to raise awareness for sustainability issues arising from the proof-of-work consensus commonly used in public blockchain networks. Secondly, a cryptocurrency that is dramatically faster, cheaper, and more scalable than Bitcoin in its current form. Nearly all of Bitcoin’s limitations and problems, i.e. high network fees, slow transaction times, massive energy consumption, frequent hard-forks that destroy network effects, etc., all stem from the network’s outdated SHA-256 proof-of-work consensus algorithm. We solve these problems by using proof-of-stake with masternodes to secure the network, instead of proof-of-work.

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ENERGY EFFICIENT

Utilizes an energy efficient proof-of-stake algorithm that can be mined on any computer.

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FASTER TRANSACTIONS

Achieving 154* transactions per second, including the support for InstantSend.

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LOWER FEES

Extremely low fees, with an average
transaction fee of less than a few cents.

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GREEN PROTOCOL

Drastically improves on Bitcoin’s outdated SHA-256 proof-of-work consensus algorithm

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HIGHLY SCALABLE

The Green Protocol allows BITG to be far more scalable than Bitcoin in its current form.

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MASTERNODE MINING

Masternodes secure the BITG network and
in turn receive rewards.

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BLOCK TIME

Average of 60 seconds to find a solution to the block hash

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REWARDS DISTRIBUTION

85% Masternode / 10% Proof-of-stake / 5% Governance Protocol

 

Specifications & Reward Structure

 
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COIN SPECS

Algorithm Green Protocol

Mining Proof-of-stake

Block Time 1 Minute

Transactions 154* tx/s

Total Supply 21,000,000 BITG

Premine 500,000 BITG

MN Collateral 2500 BITG

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BLOCK REWARDS

85% Masternode - 10% Proof-of-stake - 5% Governance Protocol

Current block: -

Blocks 0-200    Premine

Blocks 201-5000    1 BITG

Blocks 5001-25,000    30 BITG

Blocks 25,001-100,000    20 BITG

Blocks 100,001-1,050,000    10 BITG

Blocks 1,050,001-2,100,000    5 BITG

Blocks 2,100,001-3,150,000    2.5 BITG

Blocks 3,150,001-4,200,000    1.25 BITG

Reward halving occurs every 1,050,000 blocks until max supply reached.

* Transactions per second based on:
Block Time: 1 minute = 60 seconds
Block Size: 2 MB = 2097152 Bytes
Average transaction size: 226 Bytes
Block size / Block time = 2097152 / 60 = 34952.54 Bytes/s
Bytes per second / Average tx size = 34952.54 / 226 = 154 tx/s