Bitcoin Interest is a fork of the Bitcoin blockchain that will occur at block height 505083, at roughly 23:59:59 UTC Jan 22, 2018.
At the predetermined block height, Bitcoin Interest miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork but then diverges from it. As a result of this process, a new cryptocurrency will be born.
Bitcoin Interest aims to help in the decentralization of mining for bitcoin, but with a twist. With a new Proof of Work algorithm, we have developed a way for miners to still have all the benefits of mining, but also create a decentralized savings community.
Bitcoin Interest will allow wallet holders to stake, or park, there coins in their wallet and from there collect interest on it. The beauty of this is there is no risk as you get to hold onto your coins and no one can run off with them. Also, you can remove your coins at any time and unpark them.
- Brand new staking feature for interest gains.
- 22 Million Coins. This was increased due to rising cost listing and development cost.
- 12.5 BCI Block Reward to Miner and 1 BCI Reward to Interest Pool.
- Equihash mining algorithm to allow for ASIC resistance.
- 10 Minutes block times.
- 1M (2-4M) Block sizes.
- Difficulty recalculated every block.
- Replay Protection (v2).
- Unique Address formats.
Why Another Fork?
We decided that Bitcoin was missing something and that something was a safe way to invest your coins and gain interest. There have been many products that promise interest, and have eventually run off with the money, or were not sustainable. With bitcoin interest, there is ZERO risk as the savings are decentralized, and so are your funds. You control how much you park, how you collect interest, and whenever you want to unpark your coins you are free to do so at any point. You also never have to worry about the payout pool not having funds as we have created a new, enhanced, Proof of Work that still pays miners their 12.5 payouts, but will also then add one coin to the interest pool to be paid out.
You will find the compile docs in same location as bitcoin. Here is a link to compile instructions for Unix. https://github.com/BitcoinInterestOfficial/BitcoinInterest/blob/master/doc/build-unix.md