Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: BIUTBlock on January 07, 2020, 08:17:31 AM
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BIT TRUST SYSTEM: website: BIUT.IO
BIUT Introduction
Bit Trust System is an electronic trust system that is completely implemented by peer-to-peer technology. It is a system-level trust program based on blockchain and algorithm implementation. It ensures that both parties to a transaction can complete transactions online through algorithms. There is no need for any centralization organization. BIUT solves the key problem of trust reconfiguration in the new economy and new financial fields such as E-commerce, sharing economy, P2P, crowdfunding, etc. It is an essential way for developers, businesses, and users to open the door to the digital economy.
Our Global Community
Discord server: discord.gg/4dYFwYA
BIUT English Community: t.me/BIUTBlock
BIUT中国社区: t.me/BIUTBlockChinese
BIUT Background
Bitcoin resolved a single-way transfer trust problem.
Ethereum resolved token/coin exchange trust problem.
Bitcoin and Ethereum dominate the 80% global market value of cryptocurrency
Both of them prove that the true value of blockchain technology is to solve the trust problem.
BIUT is the third public chain after the Ethereum launch and is the trust mechanism of the underlying system in the digital economy age.
BIUT Turing period mainly applies to new economy fields such as P2P, C2C, Crowdsourcing, crowdfunding. etc. It is the “Google” in the value internet.
BIUT is the third generation public chain originated from MAIZUO. The early investors are constant internet entrepreneurs, hackers, and organization investors. 12 Ph.Ds and Masters of Stuttgart university make up BIUT public chain technical team in German.
The public chain technology use multiply chains structure, two-coin model, written in JavaScript and also have good expandability. The autonomous domain technology can adapt chains cross and the node community technology can support low computational power POW mining. The modular design can also attain one-click chain creation and coin distribution.
BIUT two coins model
BIUT(Trust coin) is the application coin, the total amount is 1.5 billion. BIUT uses to as trust mortgage, gatekeeper mining. 80% of the total amount will be locked up 3 years, the left BIUT distributes to the foundation and community.
BIU(Trust token) is the network coin, the total amount is 1.5 billion. BIU uses to pay gas fees and smart contracts. All of BIU will be mined by BIUT miners. Otherwise, 750 million BIU not only mined by miners but also as the mining rewards rewarded by Foundation. The rewards mechanism will adjust every 3 months based on the activity of the whole network. The left 750 million of total BIU will halve in 4 years just like Bitcoin.
BIUT main net launched on April 30, 2019. It has been stably running for about 5 months. In order to meet the network security, stability, and TPS demands of our next applications(eg. P2P). BIUT develop team launched full nodes mining wallet — — PC-Miner, which officially announced the start of BIUT public chain global mining nodes building plan — — BIUT Great Navigation Plan
BIUT Great Navigation Plan
Goal：Build 10000 mining nodes and 100 mining pool nodes
Time：1 year
Mining tool：PC-Miner
Mining method：Mortgage BIUT, mine BIU
Participate： Invitation code
Profits mechanism：mining profits, referral profits, mining pool profits, Premium profits.
PC-Miner Benefits mode ：
Bronze Miner
Conditions：
At least mine 10000 BIUT to start mining BIUT. Mortgaged BIUT will lock up one year. The more BIUT you mortgage, the more BIU will be mined.
Direct miner referrals：0–9
Profits：
Mining reward:
Foundation rewards the same amount of BIU, automatically distribute to the wallet.
Referral:
Level 1: 8% BIUT mortgage amount. For example, direct referral mortgage 10000 BIUT, you will get 10000*8 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Level 2: 3 % mortgage amount. For example, your direct referral invite one friend to mortgage 10000 BIUT, you will get 10000*3 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Upgrade reward：0
Silver Miner
Conditions：
At least mine 10000 BIUT to start mining BIUT. Mortgaged BIUT will lock up one year. The more BIUT you mortgage, the more BIU will be mined.
Direct miner referrals：10–31
Profits：
Mining reward
Foundation rewards the same amount of BIU, automatically distribute to the wallet.
Referral:
Level 1: 8% BIUT mortgage amount. For example, direct referral mortgage 10000 BIUT, you will get 10000*8 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Level 2: 3 % mortgage amount. For example, your direct referral invite one friend to mortgage 10000 BIUT, you will get 10000*3 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Upgrade reward：1000 BIUT (Foundation will automatically distribute the rewards to your wallet)
Gold Miner
Conditions：
At least mine 10000 BIUT to start mining BIUT. Mortgaged BIUT will lock up one year. The more BIUT you mortgage, the more BIU will be mined.
Direct miner referrals：32–63
Profits：
Mining reward
Foundation rewards the same amount of BIU, automatically distribute to the wallet.
Referral:
Level 1: 8% BIUT mortgage amount. For example, direct referral mortgage 10000 BIUT, you will get 10000*8 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Level 2: 3 % mortgage amount. For example, your direct referral invite one friend to mortgage 10000 BIUT, you will get 10000*3 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Upgrade reward：5000 BIUT (Foundation will automatically distribute the rewards to your wallet)
Super Miner
Conditions：
At least mine 10000 BIUT to start mining BIUT. Mortgaged BIUT will lock up one year. The more BIUT you mortgage, the more BIU will be mined.
Direct miner referrals：More than 64
Profits：
Mining reward
Foundation rewards the same amount of BIU, automatically distribute to the wallet.
Referral:
Level 1: 8% BIUT mortgage amount. For example, direct referral mortgage 10000 BIUT, you will get 10000*8 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Level 2: 3 % mortgage amount. For example, your direct referral invite one friend to mortgage 10000 BIUT, you will get 10000*3 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Upgrade reward：10000 BIUT and 20000 BIUT rewards for every 100 referrals (Foundation will automatically distribute the rewards to your wallet)
Mining pool node
Condition（Meet any of below conditions）：
① BIUT 510,000 mortgage miner（mortgage 10000 BIUT first and then mortgage 500,000 BIUT will have mining pool open qualification.
②Gold miner mortgage 100,000 BIUT will have mining pool open qualification.
Profits：
Mining profit:
Direct referral miner mortgage BIUT to the mining pool. The distribution of the mining profits is 15% to the mining pool owner and 85% to the direct referral miner.
Foundation rewards same amount BIU( the original mining amount and 15% referral mining profits)
Special reminder：
①Gather 100 miners within 100 days, the mining rewards(Foundation reward)，will pay one-time. After 100 days, mining rewards will pay real-time.
②Gather 100 miners after 100 days, the mining rewards(Foundation reward)，within 100 days will not paid. After 100 days, mining rewards will pay real-time.
Referral profit:
Level 1: 8% BIUT mortgage amount. For example, direct referral mortgage 10000 BIUT in your mining pool, you will get 10000*8 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Level 2: 3 % mortgage amount. For example, your direct referral invite one friend to mortgage 10000 BIUT in your mining pool, you will get 10000*3 %=300 BIUT (Foundation will automatic distribute the rewards to your wallet)
Promotion contribution: 3% reward of new miner
Special reminder：
①Gather 100 miners within 100 days, the 3% referral rewards(Foundation reward)，will pay one-time. After 100 days, additional referral rewards will pay real-time.
②Gather 100 miners after 100 days, the 3% referral rewards collected within 100 days will not be paid. After 100 days, the 3%referral rewards will pay real-time.
Latest event
(https://i.imgur.com/bc9KhS2.png)
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BIUT Public chain technical feature:
Two chains structure, Two coins economic model, JavaScript, unique Autonomous system, Node communities, Modular design, Polling mechanism, TrustRank algorithm, PGPOW consensus mechanism(Combination of POW and POS consensus algorithm).
PC-Miner Mining feature:
CPU mining with Combination of POW and POS consensus algorithm，anyone can join PC-Miner to become BIUT Miner with a general PC.
Public mining wallet: 9cb6f427db8d457ae3e659bd6ec8db78652fe95c96ef6dad65c9c90bef67fc98 (Private key, use to import wallet to the PC-Miner)