About BitGreen

BitGreen is two things: first and foremost, a campaign to raise awareness for sustainability issues arising from the proof-of-work consensus commonly used in public blockchain networks. Secondly, a cryptocurrency that is dramatically faster, cheaper, and more scalable form. 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times, massive energy consumption, frequent hard-forks that destroy network effects, etc., all stem from the network’s outdated SHA-256 proof-of-work consensus algorithm.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 with masternodes to secure the network, instead of proof-of-work.

ENERGY EFFICIENT

Utilizes an energy efficient proof-of-stake algorithm that can be mined on any computer.

FASTER TRANSACTIONS

Achieving 154* transactions per second, including the support for InstantSend.

LOWER FEES

Extremely low fees, with an average
transaction fee of less than a few cents.

BLOCK TIME

Average of 60 seconds to find a solution to the block hash

REWARDS DISTRIBUTION

85% Masternode / 10% Proof-of-stake / 5% Governance Protocol

Specifications & Reward Structure

COIN SPECS

Algorithm Green Protocol

Mining Proof-of-stake

Block Time 1 Minute

Transactions 154* tx/s

Total Supply 21,000,000 BITG

Premine 500,000 BITG

MN Collateral 2500 BITG

BLOCK REWARDS

85% Masternode - 10% Proof-of-stake - 5% Governance Protocol

Blocks 0-200  →  Premine

Blocks 201-5000  →  1 BITG

Blocks 5001-25,000  →  30 BITG

Blocks 25,001-100,000  →  20 BITG

Blocks 100,001-1,050,000  →  10 BITG

Blocks 1,050,001-2,100,000  →  5 BITG

Blocks 2,100,001-3,150,000  →  2.5 BITG

Blocks 3,150,001-4,200,000  →  1.25 BITG

Reward halving occurs every 1,050,000 blocks until max supply reached.

* Transactions per second based on:
Block Time: 1 minute = 60 seconds
Block Size: 2 MB = 2097152 Bytes
Average transaction size: 226 Bytes
Block size / Block time = 2097152 / 60 = 34952.54 Bytes/s
Bytes per second / Average tx size = 34952.54 / 226 = 154 tx/s