Bean Cash - Image Courtesy of Bean CashBean Cash

Bean Cash is a Bitcoin (BTC) alternative (altcoin) employing Bitcoin’s protocol for its systems. Bean Cash, formerly BitBean, was released in February 2015. It rebranded to Bean Cash in December 2017. Bean Cash provides unique solutions in the blockchain ecosystem that make it distinctive and its adoption by cryptocurrency enthusiasts on the rise. Bean Cash has widely developed its systems to support peer to peer transactions both online and offline at high speeds.
CURRENT VALUATION
mln
THE HIGHEST VALUATION
42.24 mln
CURRENT YEARLY RETURN
48%

Interesting Facts

  • Block-size 20 times larger: BITB’s maximum block size is 20 megabytes (MB), 20 times larger than Bitcoin’s maximum block size. BITB quickly adopted the proposal to increase block sizes to improve transaction speed through extending scalability of the blockchain systems. BITB’s transactions are faster compared to other platforms of digital cash.

  • Low transaction fees: Transaction fees in the blockchain environment have been relatively high, discouraging most admirers of the technology from embracing it. BITB offers low, user friendly transaction charges to users compared to other platforms of digital currencies.

  • Proof of Bean: BITB’s consensus model is called Proof of Bean (PoB), which is basically the Proof of Stake (PoS) consensus model. PoB is a key feature that BITB has modified to ensure a minimal transaction fee. This method advances the growth of digital currency.

Project in a nutshell

BITB provides users with a simple and easy to use interface that incorporates user-friendly tools to access the BITB platform. As it is a digital currency, BITB allows users to send and receive the currency, for virtual purchases, physical items or trading currencies. The multipurpose use of BITB provides a wide usability of the cryptocurrency as it can further be exchanged for other digital currencies or fiat currency. BITB also provides a secure connection through its platform ensuring that all transactions are tamper-proof. In addition to simplicity, the platform improves its reach to more users who may adopt the digital currency.

Which exchanges is this coin listed on?

CONTENT BELOW SUITED FOR MORE ADVANCED USERS

More in-depth review of the project

BITB employs a PoB consensus model for its approval of transactions and reproducing more of the BITB. The PoB enhances a speedy transaction approval for the numerous operations conducted in the platform. This feature has also facilitated the adoption of a peer to peer network for the platform’s systems allowing users to send money to other users directly. Since transaction fees are low and the platform deploys a PoS model in place of the resource-intensive Proof of Work (PoW), the coin stands a great chance of attracting more users in the near future.

BITB users have grown steadily and the project has improved its social media interaction to provide relevant, up-to-date information to its users and other enthusiasts. BITB’s social media presence boasts over 8,000 twitter followers and presence in various other social media sites as Gab!, Tumblr, Reddit, and Telegram.

The project’s edgy features include: Store of value (Unlike other cryptocurrencies, BITB focuses on ensuring that it is portrayed as real money, storing value and persevering all tests it may face. In this way, the project attracts more users and is in course to be a platform “for everyday transactions), International Usability (Through its simple and secure platform, BITB provides its operations unrestrictedly worldwide allowing reach to more users) & Sprouting (This is Bitcoin’s mining equivalent. The BITB platform allows users to get rewards for assisting in approving transactions based on the PoB model deployed in the system. Sprouting allows the BITB systems to advance since transactions are verified from well compensated users).

Future plans

  • BITB’s main commitment towards the future is to relieve digital currency users off the fear, uncertainty, and doubt (FUD) they may develop from the volatility of cryptocurrencies. BITB seeks to ensure a store value for its digital currency to ensure users’ confidence in the currency. This advancement should be accompanied by improved security structures and scalability of the project’s transaction system.

Bean Cash - Image Courtesy of Bean Cash
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