BitGreen is two things: first and foremost, a campaign to raise awareness for the energy consumption and resulting sustainability issues that arise from the proof-of-work consensus commonly used in public blockchain networks. Secondly, BitGreen is the proof-of-stake Bitcoin, a cryptocurrency that is dramatically faster, cheaper, and more scalable than proof-of-work alternatives. Nearly all of Bitcoin’s limitations and problems, i.e. high network fees, slow transaction times, massive energy consumption, frequent hard-forks that destroy network effects, etc., all stem from the network’s outdated SHA-256 proof-of-work consensus algorithm. We solve these problems by using proof-of-stake to secure the network instead of proof-of-work.
Utilizes an energy efficient proof-of-stake algorithm that can be mined on any computer.
Achieving 154* transactions per second, including the support for InstantSend.
Extremely low fees, with an average
transaction fee of less than a few cents.
Drastically improves on Bitcoin’s outdated SHA-256 proof-of-work consensus algorithm
The Green Protocol allows BITG to be far more scalable than Bitcoin in its current form.
Masternodes secure the BITG network and
in turn receive rewards.