The second decade of the 21st century can be called the decade for emergence of digital currencies in the world.
These years witnessed introduction of a wide range of digital currencies, many of which received extensive public attention and reached a top position in this process.
BixBcoin is a digital currency that accomplished a lot in a relatively short period of time.
What is BixBcoin?
The first question asked by someone unfamiliar with digital currencies is “What is BixBcoin?”
BixBcoin, represented by the symbol BIXB, is a newly introduced digital cryptocurrency intended to create an environment suitable for decentralized automatically executed applications.
The question “What is BixBcoin” can be answered in another way in simpler words. BixBcoin can be defined as a “blockchain-based open platform that use blockchain technology as a base for developing global financial markets to enable individuals to continently use decentralized platforms with no concern for potential issues.
You may also ask whether or not BixBcoin is something like Bitcoin.
The answer is yes and no. Yes, because, like Bitcoin, BixBcoin is a digital currency, and no because it differs from Bitcoin in many ways including in the form, applications, and the technology it uses.
What can BixBcoin do?
Like other digital currencies, BixBcoin is a blockchain-based means of making payments internationally.
It is a peer-to-peer digital currency which enables low-cost instant payments across the globe.
BixBcoin is created and transferred using an open-source program (https://github.com/Bixbcoin/Bixbcoin-core) and it can be transferred to any place in the world in a decentralized manner with no need for a central entity or intermediaries.
Since its introduction to market, BixBcoin has experienced a stable growth.
The official code used to present BixBcoin in transaction platforms is BIXB.
All transactions made in BixBcoin are recorded in a general ledger and can be tracked through www.bixbexplorer.com.
A History of BixBcoin
Like other digital currencies, BixBcoin does not have a long history as it originated in a decentralized entity commercially known as MRMGROUPE (a group of experienced professional in the industry) in the late 2019, and early on relied on powerful platforms to make its way to the cryptocurrency market.
To view BixBcoin roadmap and white paper visit www.bixbcoin.io.
How Does BixBcoin Work?
Any digital currency uses a particular algorithm to work.
BixBcoin uses Scrypt as its algorithm.
The algorithm enables easier computations, smaller amount of work, and therefore faster confirmation of transactions.
Skrypt significantly reduces transaction costs.
BixBcoin is in fact a pre-mined coin.
Pre-mined coins are first mined by their creators before they are offered publicly, and in fact, BixBcoin miners receive rewards for confirming transactions over the network.
Through working with the network, miners receive rewards for each correct calculation which, in turn, adds a new block.
All approved transactions in BixBcoin are included in digital packages known as blocks, and currently miners receive 0.0004 to 0.01 BixBcoin for each block containing positive transactions.
Since a new block takes in average 30 seconds to 1 minute to be created, statistically a greater number of miners have the chance of receiving rewards.
By making mathematical computations, miners use the computational power of the computers over the network to keep the network secure.
To view a BixBcoin mining pool visit https://bixbminingpool.com.
|January 29, 2020||Date introduced|
|Digital currency||Used as|
|High-level security, anonymous traceability||Traceability|
|BixBcoin (BixB cent, BixB mill)||Currency and unit|
|Varies depending on wallet and network traffic||Transaction fee|
|30 seconds to 1 minute||Block time|
BixBcoin is an online network where people can make transfers or payments from one person to another.
BixBcoin works in a decentralized P2P manner meaning that it is not controlled by any government or authority.
The payment system does not involve physical currencies like dollar or euro and, instead, uses its own unit known as BIXB.
BixBcoin can be easily sold, bought or converted to common fiat currencies at online exchanges.
How Many BixBcoins Are There?
As of January 2021, about 70% of BIXB is available and in total there are about 3 million units.
The remaining coins belong to partners that provide financial facilities to BixBcoin customers as explained later in details.
Buying and Selling BixBcoin
You can buy and sell this coin through several domestic and international exchanges.
Currently, the most active trading platform for exchanging BixBcoin internationally is COINSBIT $ HOTBIT.
Due to the platforms introduced at the time of initial offering of BixBcoin, the digital currency was initially offered at prices as high as $ 25 in the international market.