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"Bean Cash is Bitcoin's Big Little Brother - Fast..Simple..Secure..More Than Digital Currency!"

www.beancash.org

What Is Bean Cash?

Bean Cash (Tickers: BITB and BEAN)

Bean Cash is a digital currency, network, and computing platform based on the original Bitcoin reference, with improvements that are ecologically friendly. BitBean pioneered static block rewards in the very first v3 "Proof of Stake" consensus system, which we now call "Proof of Bean". It was also the first to have a maximum of 20MB block sizes, based off Gavin Andersen's proposals to fix Bitcoin's scalability limitations. These changes improved scalability, and along with faster block targets, increased the speed and the number of transactions up to 1,300 per second (Bitcoin maxes out at only 7 TPS!) The Proof of Bean (PoB) algorithm closely resembles traditional Proof of Work (PoW) crypto-currencies, but without all the electricity demands and custom hardware required to mine a traditional PoW crypto. Bean Cash is designed from the ground-up to be transaction-centric and to compete with payment systems such as Paypal, VISA, Mastercard and others.

About

Bean Cash is developed by Bean Core, a virtual ad hoc 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.

History

Bean Cash is a re-brand of BitBean. Bean Cash brings forward BitBean's legacy of lightning-fast transactions, a rock-solid network, and a mature block-chain that is over 7 years old!

Bean Cash had no IPO (Initial Public Offering), Swap or transaction roll-backs like many of the other so-called "crypto-currency" (Scams). Bean Cash's initial distribution was delivered by Proof of Work mining (double sha256, same as Bitcoin's). During this time, BitBean reached a hash rate of over 2.4 Peta Hashes per second (1% of total world-wide sha256 hash power at the time..which took away hash power from Bitcoin!)

The Future

One of Bean Cash's goals, is to be a transaction-centric digital currency with real world use. Bean Cash aims to solve the "last mile issue" in the digital currency space. Specifically, the "last mile issue" deals with implementation of infrastructure at the point of use.

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 substantially more if transactions are back-logged), while providing no risk, and transactions posted in near real time to the Bean Cash block-chain. This provides real value and allows merchants to reduce risk, fraud, and costs as their percentage of Bean Cash transactions increases in their business. Fundamentally, a zero confirmation transaction does not help to solve a real-world problem, as merchants still bear risks, as with existing traditional payment methods (checks/cheques/Credit-Debit cards).

A hard-fork is planned in late 2022 with v1.5, after which only maintenance releases will be made available for v1.X branch.

A new version (v2.x) of Bean Cash is planned for launch in 2023. Bean Cash will be reborn and offer it's own DDEX (Distributed Decentralized Exchange). More details on v2 will be released in 2023.

Bean Cash will once again become competitive in the Block-chain/Crypto Space, with our goal to get back into the top 100 of Crypto-Currencies in 2023! (BitBean was a top 10 crypto-currency back in 2015!)

Bean Cash's Mission

"To be an enduring digital currency, with high integrity, a unit of account, a store of value, and a means of exchange in every day transactions -- that stands the test of time!"

Bean Cash Specifications

Consensus: Proof of Bean (PoB) & Proof of Work (PoW distribution ended at block 10,000.) V2 of Bean Cash will introduce a Proof of Resources Existing (POREs) model that in addition to PoB (Proof of Bean), will provide an additional economic system.

Proof of Work Algorithm: Double SHA-256

PoW Block Reward: 100,000 BITB

PoW Blocks: 10,000

PoB Block Reward: 1000 BITB (1 BEAN)

Target Blocktime: 1 minute

RPC Port: 22461 (Testnet: 22463)

Port: 22460 (Testnet: 22462)

Time to Maturity: 110 Confirmations

Minimum Time for Beans To Be Eligible to Sprout: 6 hours

Maximum Supply for BITB(v1.x): 6 Billion BITB

Maximum Supply for BEAN(v2.x): 21 Million BEAN*

*(Equivalent 21 Billion BITB -- BitBean previous Max Supply was 50 Billion. Max supply is effectively being cut more than half!)

On August 2, 2021 @ 9:27:42PM GMT Bean Cash will start enforcing stricter time drift rules. Nodes not running v1.3.1 or later will be forked off the network and chain. These changes are necessary to move Bean Cash forward. Node operators must do more than just Sprout Beans, they must stay involved with the Community and keep their software updated on a timely basis! These changes are necessary to move Bean Cash forward. More significant updates will be coming and network node operators need to be agile and keep up!

Bean Cash Monetary Units

BEAN* = Whole Bean BITB = Bit of a Bean mBITB = milli-BITB uBITB = micro-BITB ADZUKI = Smallest Bean unit

*BEAN is reserved for Bean Cash v2.X(Project Aurora) BITB is the base unit of Bean Cash v1.X

  • BEAN = ß1 = 1,000(BITB)
  • BITB = 1(BITB)
  • mBITB = .001(BITB)
  • uBITB = .000001(BITB)
  • ADZUKI = .00000001(BITB)

Support

  • Live Community Support: https://live.beancash.org
  • Twitter: @BeanCash_BEAN
  • email: support@beancash.org

    Copyright (c) 2015-2017 Bean Core, Team Bean, bitbean.org
    Copyright (c) 2017-2022 Bean Core, Team Bean, beancash.org