Bitcoin Nano (BTN) is a snapshot fork of Bitcoin. We will take Bitcoin blockchain snapshot at block 501888, and a new cryptocurrency will be generated, which will be called as Bitcoin Nano. Bitcoin Nano applies Equihash, one PoW algorithm, which can effectively prevent ASIC mining. We expect more people to participate in the Bitcoin Nano project and grow together.
The purpose of Bitcoin Nano is to give Bitcoin a wider range of applications, such as online games, live video, etc. We will implement the Smart contracts via the side-chain technology, compatible with the Ethereum Virtual Machine (EVM). Everybody will be able to issue tokens on the side-chains and make the exchange between coins/tokens and Bitcoin Nano. All of these things will enable users to convert the values between multiple-domain and multiple-application scenarios. First of all, we will work with some live video streaming platforms. The audience can like and give thumbs up to their favorite videos with BTNs. Meanwhile, the BTNs will also be applied to the gaming field. You can buy props with tokens, or make BTN as the certificate for adopting CryptoPets. Moreover, due to the popularity of CryptoKitties, it has resulted in serious network congestion, resulting in large number of transactions unconfirmed. In order to solve this problem, Bitcoin Nano will isolate different scenarios through side-chain technology and make it runs more effectively.
Anyone who held Bitcoin when block 501888 was mined they will automatically receive Bitcoin Nano at the rate of 1 BTC = 1000 BTN (If you had 99 BTC at the time of the snapshot, you will have 99000 BTN). If your Bitcoins are stored by a third party such as an exchange, then you must inquire with your third party about your Bitcoin Nano. And last but not the least, you can get BTN simply via buying or mining.
BTN has 4 features as following:Mining Algorithm, block size,smart contact and cross-chaining trading.
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Mining Algorithm:By inserting the side chain, we will integrate the smart contract's feature and compatible with the current ethernet virtual machine (EVM), to allow our users develop distributed applications via side chains (Dapp), and publish smart contracts.
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Block Size:For the sake of low fees and fast confirmations, we will raise the limitation of it into 8 MB. According to current implementation and experimentation, 8MB block size is enough to meet all the transactions now.
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Smart Contact: By inserting the side chain, we will integrate the smart contract's feature and compatible with the current ethernet virtual machine (EVM), to allow our users develop distributed applications via side chains (Dapp), and publish smart contracts.
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Cross-chain Trading: For the sake of low fees and fast confirmations, we will raise the limitation of it into 8 MB. According to current implementation and experimentation, 8MB block size is enough to meet all the transactions now.