When was bimcoin issued (when did bim come out)?
When was bimcoin issued after it was listed on Binance Exchange? According to
When was bimcoin issued after it was listed on Binance Exchange? According to Bitmex market data, the current price is about $6; the current market value exceeds $100 million.
Bimcoin was first launched by the Russian mining company SlushPool in April 2019 as a bitcoin currency, initially developed by the Russian mining company TitansGroup. It was later renamed Bifinity (Binance). However, due to the project not obtaining approval from the U.S. Securities and Exchange Commission, it is referred to as “Bitcoin Cash”. As of now, the company has accumulated approximately 4 million BTC to countries such as China, Singapore, and South Korea, as well as $10 million worth of Ethereum, and plans to complete most of its work by the first quarter of 2020. (bitxnews)
When did bim come out
Editor’s note: This article is from BlockBeats (ID: blockbeats) and authorized by the author: 0x29, Odaily Planet Daily for reprint.
How did bim come out? What is bim? In fact, it’s very simple, it just takes decentralized storage of bitcoin on a blockchain and uses it for peer-to-peer transactions, exchanges, and other operations. So we can consider bim as a very simple solution. The main difference between this system and bitcoin is that it uses its own encrypted assets for payment settlement. In other words, bim does not need to provide custody services like other exchanges, allowing people to manage their funds themselves.
Currently, bim has several main uses:
1. Storing mining data; 2. Managing the demand for nodes in the network; 3. Adding consensus rules; 4. Achieving interconnection and cross-chain communication through sharding technology.
Many people are confused about what functions Bichuang Treasury wants to develop and think that this thing is a bit complicated. But if you want to know what problems this coin can solve, I think it should be “I just need a smart contract,” and then you can complete these tasks without any code or other basic knowledge assistance. 2. Building an ecological application. There are not many public chain projects now, such as eth’s defi, and some so-called privacy projects are similar to this.
Of course, there are many problems in it. For example, because of various protocols, some will be directly targeted by hackers, which will lead to user account theft. However, this situation may still need to be tested over time, and it is not friendly to ordinary users. After all, there are too many digital currency in the wallet, and it is difficult to guarantee safe and reliable use, so it is also difficult to achieve the expected effect.
So bim is not a real bitcoin, but a complementary means of bitcoin.
Then why is it called Bitcoin? The token name in Bitcoin is called BitcoinCash, and its issuance mechanism is not much different from Ethereum.
First, it generated a new virtual machine in a algorithmic way. When you create a new machine, the software will automatically transfer your computing power to the memory pool. At this time, the programmer can perform corresponding operations according to the instructions and receive corresponding rewards and transaction fee income in the new blocks, thereby improving the security of the entire system.
The second is how to establish an ecology, because they are not just for making money, but also to create value for themselves.
The third is how to design an economic model. In real life, everyone is participating in the Bitcoin network, not mining. Bitcoin itself is a financial system, and its underlying technology is very mature and stable. In addition, as the world’s largest distributed ledger platform, it has high security and anonymity.
So from a certain perspective, this system should be relatively reasonable.
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