What Is BitBean?
BitBean is a Proof of Stake Cryptocurrency. The first two weeks after release will consist of a two week Proof of Work period.
It is the goal of the BitBean developers for everyone involved in the Cryptocurrency revolution to have access to the exciting developments that have been taking place. An ASIC-friendly, mixed PoW/PoS coin with eventual anonymous transaction capabilities has been sorely overlooked.
The BitBean developers believe that progress should never be held back. ASICs use much less energy than GPUs and are orders of magnitude more efficient. The energy used mining Scrypt coins for years to prolong the days of GPU mining was a truly enormous waste of resources on a global scale. Why hold back progress? BitBean encourages it.
Coin Generation: Pure Proof of Stake with Proof of Work period upon release
Proof of Work Algorithm: SHA-256
PoW Block Reward: 100000 BITB
PoW Blocks: 10000
PoW Target Blocktime: 1 minute
RPC Port: 22461
Time to Maturity: 100 Confirmations
Proof of Stake Reward: 1000 BITB per block
Minimum Coin Stake Age: 6 hours