Past is experience! Present is experiment! Future is expectation!
- Name: Bitcoin Classic Token
- Symbol: BCT
- Standard: ERC223
- Total supply: 21.000.000
- Homepage: will follow
- Whitepaper: on developement
- ICO Contract Address 0xeFc136269F609846BE32666D6a01e41759dd66Be (1 ETC = 2000 BCT)
° Just send your amount of ETC to the contract address to recieve your BCT in the same trade to your purchase/ETC Wallet, very easy.
POW was yesterday !
Ethereum has done it and will give up POW (puuufffffff). Why buy such expensive hardware and pay tons of electricity? Buy and finish! POW has fulfilled its task, up to a certain point, from here we take over!
- BCT POS IS COMING - AIRDROP IS COMING
More Informatoins will follow, please be patience
°°Beginner’s Guide to Staking Bitcoin Classic Token for Passive Income°°
Who doesn’t like passive income ? More and more blockchains are implementing mechanisms so their investors can earn some passive income, and among them is Bitcoin Classic Token BCT, a ETC blockchain platform for enterprise solutions.
Bitcoin Classic Token has made the generation of passive income possible by employing the Proof-of-Stake on their blockchain platform. Even though Bitcoin Classic Token platform is business-oriented, the staking model is open to everyone. There is no minimum staking amount and the average expected returns are estimated to be 10% per annum, which makes it one of the best Proof-of-Stake token for earning passive income.
So if Bitcoin Classic Token staking model has drawn you in with its promise of lucrative expected returns and you’ve been looking for a beginner’s guide on how to get started, just keep reading.
To ensure that all members of the Bitcoin Classic Network network behave honestly and their transactions can be trusted, Bitcoin Classic token employs a Proof-of-Stake (PoS) consensus algorithm.
PoS algorithms are becoming increasingly popular, mainly due to the fact that they are much more energy efficient than Bitcoin’s “POW” Proof-of-Work algorithm. There are other cryptocurrencies that employ the Proof-of-Stake algorithms too.
Instead of requiring large quantities of electricity and computing power to validate transactions, the Proof-of-Stake consensus algorithm requires network members to hold and stake their cryptocurrency holdings to validate transactions.
This works kind of like a lottery, in which your chances to win increase with the more tickets you own. In PoS, the odds of a user being appointed to verify transactions and receive the accompanied reward is based on the number of tokens you stake.
The more tokens a user stakes, the bigger the chances are that your wallet is picked to solve a block.
Bitcoin Classic Token Proof-of-Stake
Bitcoin Classic Token´s PoS consensus algorithm also follows this logic, but with some customizations. A new staking “winner” is appointed through the algorithm roughly every 2 minutes, after which the appointed wallet validates the submitted transactions and receives newly-created Bitcoin Classic Tokens.
A key requirement to be eligible for staking rewards is that your wallet has to be “online”. This has been implemented to motivate active staking (instead of depositing your tokens in a staking wallet and checking the balance every now and then) which makes the network more secure.
You can only receive staking rewards in the period that your wallet is online. This means that if I were to open my wallet right now and leave it open for only a few minutes, I can only ever be selected to validate transactions and receive the rewards based on the few new blocks created in that period (approximately every 2 minutes).
To establish how long specific tokenss have been in a wallet, Bitcoin Classic Token has implemented something called token age . This refers to the time that a token has been in the same wallet.
Say I’ve bought 100 BCT from an exchange and send them to my Bitcoin Classic Token wallet on a Monday (13:00). On Thursday, the token age of these 100 Bitcoin Classic Token is 3 days. Token age starts when the tokens enter the wallet and stops when they leave the wallet.
In the Bitcoin Classic Token staking system, token age is important because it is the basis of your “weight.” This weight is the number submitted to the staking pool and is the total number of tokens you have plus a bonus for your token age.
The weight starts increasing after the tokens have been idle in a wallet for 24 hours and increases up to 7 days, after which the weight remains the same as long as the amount of BCT doesn’t change.
So someone with 100 tokens that have a token age of 7 days has a larger weight than someone with 100 BCT with a token age of 2 days, but the same weight as someone with 100 BCT and a token age of 50 days.
The chances of your wallet being picked for validating transactions is based on this weight relative to the the total network weight. Even though the selection process is randomized, the more weight you have, the bigger the chances are of your wallet being selected.
Say the total network weight is 100,000 and your weight is 500. Then you have a 0.5% chance of receiving a staking reward. Again, to be eligible at all, you need to ensure that your wallet is open and online.
It’s important to know that once you’ve received a staking reward, the token age of the staked tokens that caused the rewards will return to 0.