Published
5 years ago on
September 12, 2018
Today, any crypto platform requires an advanced mechanism to enable transactions between its users.
When it comes to crowd investing platforms like the Bitbon System, such a mechanism must be extremely reliable, quick and cheap. All of these things become possible due to the Bitbon Transfer service, which is a special component of the Bitbon System and has the following properties and functionality:
Today, any crypto platform requires an advanced mechanism to enable transactions between its users.
When it comes to crowd investing platforms like the Bitbon System, such a mechanism must be extremely reliable, quick and cheap. All of these things become possible due to the Bitbon Transfer service, which is a special component of the Bitbon System and has the following properties and functionality:
- Ability to transfer any part of the Bitbon nominal value up to 8 decimal places;
- Execution of transactions between users’ Assetboxes (Bitbon wallets) without any commission;
- Cold storage of Bitbons via Safebox;
- BTSC (Bitbon Transfer Security Code) — additional protection of transfers by means of a four-digit PIN code;
- zk-SNARKs — zero-knowledge proof algorithm at the core of security systems built into the nodes of the Bitbon System Blockchain;
- Application of a protection code, which has a validity period;
- Protection against attempts to use the transfer service inappropriately (automatic fee deduction when a user carries out an excessive number of transactions over a certain time period, for example, by using a bot).
At the moment, the abovementioned mechanisms of the Bitbon Transfer service have already been tested and are being extensively used.
Let us recall the fact that the Bitbon System (Blockchain platform for collective investment) is currently at the public crowdsale stage, which will last until October 10, 2018. Simcord Company, the developer and founder of the Bitbon System, issued 100,000,000 Bitbons at the moment of the project launch. 70,000,000 Bitbons were transferred to the Assetbox of the Bitbon Capitalization Fund for implementation of the pre-sale, internal crowdsale and public crowdsale stages. 30,000,000 Bitbons remained in the Assetbox of Simcord Company to be used in order to maintain and develop the Bitbon System infrastructure.
The Bitbon Capitalization Fund is one of the key components of the Bitbon System, which plays an important role in the implementation of its economic model:
- Automatic participation in Contributing — investing into business projects within the Bitbon System;
- Implementation of the mechanism for backing the Bitbon Crypto Value through the assets of the real sector of economy;
- Increase in the volume of the Bitbon Capitalization for the benefit of all platform users;
- Profit received by the Bitbon Capitalization Fund during the Contributing process covers the expenses and allows making payments to miners, Bitup-Agencies, promoters of business projects and Simcord Company, which is a Bitbon System operator.
- All platform users are provided with an opportunity to manage the Bitbon System in the interests of all its participants.
Bitbons remaining in the Assetbox of the Capitalization Fund upon completion of the final crowdsale stage will be used by the Capitalization Fund for automatic participation in the Contributing process, and it will be possible to purchase Bitbons only from other users on the exchange. Up until the launch of exchange trade, the Bitbon price is set in the real time mode by the formula described in the Bitbon System White Paper. This formula creates such conditions, under which the Bitbon price for all subsequent price levels is calculated based on the number of Bitbons purchased at all previous price levels. It means that the number of people who purchase Bitbons at a higher price will always be greater than the number of people who purchase them at a cheaper price. Such an approach should reduce the probability of short-term decrease in the Bitbon price upon starting free trade on the exchange. At the moment, the Bitbon price is a little over 6 USD.
Bitbon is a key component of the Bitbon System. It cannot be simply considered a backed crypto currency. Bitbon is an instrument for Contributing, which is a new type of investment. The System allows earning money legally by investing into profitable business projects, which have been previously verified by Bitup-Agencies. Contributing is certainly a new term in the world of crowd investing, and the business community’s interest in the Bitbon System indicates a promising nature of this area in general.
Bitbons remaining in the Assetbox of the Capitalization Fund upon completion of the final crowdsale stage will be used by the Capitalization Fund for automatic participation in the Contributing process, and it will be possible to purchase Bitbons only from other users on the exchange. Up until the launch of exchange trade, the Bitbon price is set in the real time mode by the formula described in the Bitbon System White Paper. This formula creates such conditions, under which the Bitbon price for all subsequent price levels is calculated based on the number of Bitbons purchased at all previous price levels. It means that the number of people who purchase Bitbons at a higher price will always be greater than the number of people who purchase them at a cheaper price. Such an approach should reduce the probability of short-term decrease in the Bitbon price upon starting free trade on the exchange. At the moment, the Bitbon price is a little over 6 USD.
Bitbon is a key component of the Bitbon System. It cannot be simply considered a backed crypto currency. Bitbon is an instrument for Contributing, which is a new type of investment. The System allows earning money legally by investing into profitable business projects, which have been previously verified by Bitup-Agencies. Contributing is certainly a new term in the world of crowd investing, and the business community’s interest in the Bitbon System indicates a promising nature of this area in general.
