Bean Cash is a digital currency re-branded from BitBean.
"Bean Cash is Bitcoin's Big Little Brother - Fast..Simple..Secure..More Than a Digital Currency!"
What Is Bean Cash?
Bean Cash (Ticker: BITB) is a re-brand of BitBean. Bean Cash brings forward BitBean's legacy of lightening-fast transactions and a rock-solid network, with a mature blockchain--that is nearly 5 years old! 5 years is a long time in the "crypto-currency" space! In this time, Beancash has not hardforked or had a transaction roll-back. Bean Cash is developed by Bean Core, a virtual company comprised of individuals and entities around the world, with the purpose of moving development forward and helping to bring about consensus among the community. Bean Cash's mission: "To be an enduring digital currency, with high integrity, a store of value and a means of exchange of value in every day transactions -- that stands the test of time!"
Bean Cash is a digital currency and network, designed for scalability, speed, and lightening fast transactions! It features an innovative Proof of Bean (PoB) algorithm that more closely resembles traditional Proof of Work (PoW) crypto currencies. Bean Cash is the first digital currency to implement a maximum of 20MB blocks, based off Gavin Andersen's proposals to fix Bitcoin's scalability limitations. Bean Cash is designed from the ground-up to be a transaction-centric and superior form of currency, for exchange of value in on-line purchases (idealy suited for micro-transactions) and purchases with traditional brick-and-mortar merchants.
In it's mission to be a transaction-centric digital currency with real world use, one of the goals for Bean Cash, is solving the "last mile issue" in the digital currency space. Specifically, the "last mile issue" deals with implimentation of infrastructure at the point of use. Instramental in this objective will be working with companies that are willing to implement Bean Cash at the Point of Sale/Service. Bean Cash is designed to support a network with over 1,300 TPS (Transactions Per Second), effecively being able to compete with companies such as PayPal.
As developers of Bean Cash, we are not looking to re-impliment a transaction system, based on the "Check/Cheque" model (et al. Bitcoin), where a merchant approves a transaction based on simple verification, and settlement happens much latter. That kind of model does not provide any more value than existing, charge back prone, credit cards.
Rather than use archaic models of the past, Bean Cash will allow merchants to verify, validate and settle transactions in near real time (a minute or less on average for a single confirmation transaction.) This is magnitudes faster than Bitcoin (10-30 times, or substantually more if transactions are back-logged), while providing no risk, with transactions being posted in near real time to the Bean Cash blockchain. This provides real value by allowing merchants to reduce risk, fraud, and costs as their percentage of Bean Cash transactions increases in their business. Fundamently, a zero confirmation transaction does not help to solve a real-world problem, as merchants still bear risk as with existing traditional payment methods (checks/cheques/Credit-Debit cards).
Alternatively, if you are a merchant with questions or interested in adopting Bean Cash in your business, you may contact Bean Core via telephone: 1 (406) 213-4656 or via email.
Bean Cash Specifications
Consensus: Proof of Bean (PoB) & Proof of Work (PoW distribution ended at block 10,000)
Proof of Work Algorithm: SHA-256
PoW Block Reward: 100,000 BITB
PoW Blocks: 10,000
PoB Block Reward: 1000 BITB (1 SPROUT)
Target Blocktime: 1 minute
RPC Port: 22461 (Testnet: 22463)
Port: 22460 (Testnet: 22462)
Time to Maturity: 110 Confirmations
Minimum Time for Beans To Be Elgible to Sprout: 6 hours
Maximum Supply (over 95+ years): 50 Billion BITB
Bean Cash Monetary Units
- SPROUT = ß1,000 (BITB)
- BITB = ß1
- mBITB = ß.001 (BITB)
- uBITB = ß.000001 (BITB)
- ADZUKI = ß.00000001 (BITB)
- BEAN (Reserved for new class of Bean, Project Aurora)
Copyright (c) 2015-2017 Bean Core, Team Bean, bitbean.org
Copyright (c) 2017-2019 Bean Core, Team Bean, beancash.org