BitF is an energy efficient, carbon offset, cryptocurrency. BitF shares much of the Bitcoin codebase but trades energy consuming mining in favor energy efficient proof-of-stake distribution. BitF is designed to be the cyptocurrency of our Carbon Exchange. The multi-currency carbon exchange allows green energy producers and reforestation projects to sell carbon offset credits from their projects to individuals, cryptocurrency projects, and corporations. Shopping cart plugins will allow any website owner to give customers the opportunity to carbon offset their shipping at point of sale. Transaction fees from the exchange will help pay to carbon offset the BitF blockchain - as well as provide consistent liquidity to the market. BitF has a built in reserve to ensure that our cryptocurrency is not only energy efficient but carbon neutral as well.
BitF mining rewards currently award 75% to the Masternode and 25% to stakeholders.
Masternodes are an energy-efficient, intuitive, and scalable consensus mechanism.
These are incentivized nodes receive their rewards based on their availability and ability to offer network services in a decentralized and trust-less manner. Operating a masternode requires 5,000 BITF collateral but only for as long as you choose to operate the masternode. Being a masternode allows the owner to vote on budget and development proposals. These nodes are the backbone of the present and future services offered on the BITF network, and as such are rewarded at a higher level compared to staking similar amounts.
For more information on running a BitF masternode please see our Masternodes section.
With proof-of-stake mining, block rewards are distributed to the network's coin holders rather than third-party miners. This ensures the cryptocurrency’s inflation flows to coin holders in an amount proportional to their staked collateral. This keeps the network energy efficient and destroys the distinction between miners and everyday users.
The Proof-of-stake algorithm utilised by BitF does away with coin age, this means in order to get the most out of your staking you must keep your wallet open at all times, this results in more nodes constantly available, keeping the network strong. This does away with users opening their wallet once or twice a month for a just few minutes and getting rewarded equally with those that have 24/7 up-time with their wallet.
BitF is based on a rock solid foundation of open source software stemming from projects such as Bitcoin, DASH and PivX. BitF's open source codebase enables portability and security.
BitF nodes and masternodes are now running all around the world. BitF is a fully international cryptocurrency without borders.
BitF nodes are currently running in USA, Canada, Brazil, Iceland, England, France, Germany, Netherlands, Italy, Russia, South Africa, India, Singapore, Indonesia, Australia, Japan and more.
If you don't see your country listed be the first! For more information node locations see the BitF Network Map.
BitF is powered by system of Masternodes. A Masternode is a server running BitF software that processes and verifies transactions. Each Masternode hosts a copy of the BitF blockchain and contributes to making the network stable and diverse. Masternodes are paid 75% of the block reward in return for their computing resources. Anyone can be a masternode operator. BitF requires Masternodes to put up 5000 BitF as collateral to participate. Collateral funds are not locked in and can be withdrawn at any time. Masternode operators span the globe, some operating dedicated linux servers, others using simple RasberyPi’s or Windows machines. Masternodes are the easiest way to earn the most BitF.
Our setup guides make it easy for anyone to get a BitF masternode up and running. We encourage anyone interested in setting up a Masternode to read our Windows, Linux or RasberryPi documents. Feel free to join our Discord channel to ask any setup related questions!
In order to stake you must buy BitF from one of our supported exchanged. You can then transfer it from the exchange to our Windows, OSX or Linux wallets. By running the wallet software you “stake” your balance and receive a portion of the block reward for doing so. Staking is an easy way to participate in BitF and grow your balance. BitF has allocated 25% of the block reward to be distributed to those who simply stake their balance securely using our wallet software.
The BitF blockchain was succesfully launched
The BitF Blockexplorer can be found at BlockExplorer.BitF.cc
BitF is now listed on Crex24, STEX, CoinMarketCap, Coingecko, Masternodes.pro, Github, BitcoinTalk, Twitter, Reddit, Medium, Steem, Discord, Telegram and more.
New website matching the new logo and branding will be released. Expect a clean "one pager" highlighting key elements from the BitF whitepaper.
The wallet will be recompiled with the new logos in place. We have plans to further update the color scheme and other UI/UX details as time allows.
After synchronizing the redesign of the website and wallet to represent a uniform look and feel, we will embark on a branding and awareness campaign. The campaign will aim to grow awareness of the BitF cryptocurrency and attract masternode operators, stakers, traders and community developers. We hope this campaign will help market prices, liquidity and distribution of the cryptocurrency.
We are currently in talks with a few different cryptocurrency exchanges and will be working to fullfill another listing.
A detailed action plan will be released that outlines how the carbon exchange will work and how we plan to build it. We are building an exchange that allows producers of green energy and reforestation projects to sell carbon offset credits on a currency neutral platform. A web extension will be made available to allow carbon offset payments on items at point of sale. The exchange software will be a framework- allowing the possibility of launching other types of exchanges and marketplaces using BitF as a base currency.
In the spirit of open source, a comprehensive and collaborative project documentation portal will be released. The portal will be focused towards developer and advanced users to foster community contributions to the BitF platform.
Bounties will be created for document translation. We will prioritize Russian, Chinese, Korean, Japanese, French and Spanish.
Our Android Wallet will allow people all over the world to send and receive BitF using their mobile phone. The Android Wallet solidifies BitF as an independent transactional digital assetet. The wallet will increase volume on the blockchain and help grow the overall network.
The Alpha version of our cryptocurrency carbon offset exchange will launch to begin public testing and gain community feedback.
As indicated on our roadmap we are currently working on a comprehensive and collaborative documentation portal. In the mean time you can find many great docs and guides in a couple different places like our blog or github