Bean Cash, 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: BEAN) is a re-brand of BitBean (Ticker: BITB). Bean Cash brings forward BitBean's legacy, of a lightening-fast, rock-solid network, with a mature blockchain--that is nearly 3 years old! 3 years is a long time in the "crypto-currency" space! In this time, Beancash has not had a hardfork or transaction roll-back. Bean Core will continue to move development forward with Bean Cash, while working to maintain the integrity of the blockchain. As core developers of Bean Cash, Bean Core sees its role as a steward. Integrity of a currency is of foremost importance. The very first purchaser of Beancash (that may have transfered their Beancash to a Digital Cash "paper wallet"), should be able to redeem those same number of tokens 90 years later, as "Bean Cash". If this is possible in 90 years, then Bean Core and developers of Bean Cash, will have filled the 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 use, one of the main goals for Bean Cash, is solving the "last mile" issue in the digital currency space. 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
Bean Cash Specifications
Bean Generation: Pure Proof of Bean (PoB), Proof of Work (PoW) distribution ended at block 10,000
Proof of Work Algorithm: SHA-256
PoW Block Reward: 100000 BEAN
PoW Blocks: 10000
PoB Block Reward: 1000 BEAN (1 SPROUT)
Target Blocktime: 1 minute
RPC Port: 22461
Time to Maturity: 110 Confirmations
Minimum Time for Beans To Be Elgible to Sprout: 6 hours
Maximum Supply (over 95+ years): 50 Billion BEAN
Bean Cash Monetary Units
Sprout = ß1,000 (BEAN) Bean = ß1 (BEAN) mBean = ß.001 (BEAN) uBean = ß.000001 (BEAN) Adzuki = ß.00000001 (BEAN)
IRC: #beancash (Freenode IRC Network)
Telephone Support: +1 (406) 213-4656
(Free for first 15 minutes. 10k BEAN/per hour with 1hr. minimum)
Developer support: #beancore on the Freenode IRC Network or firstname.lastname@example.org