Bitfree Cash

A New P2P Electronic Cash System Based on Mortgage Business Model

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—About BFC—

 BFC is a new encrypted currency based on Cuckaroo29 algorithm,which effectively resists ASIC.
 On the basis of traditional POW mining,BFC innovatively introduces mortgage mining mode. 
 The mortgage mining mechanism of BFC can effectively restrain the price drop caused by excessive circulation.
 BFC Mortgage Miningn Mechanism Enhances Miners'Time to Hold Money and Prevents Malicious Trading.
 Compared with traditional POW mining,BFC can effectively restrain the excessive growth of computing power.
  BFC strengthens the consesus among miners that the relationship between miners and miners is no longer competitive,but win-win cooperation.
  BFC innovatively designed mortgage-based smart contracts to provide a reliable and reliable technology cornerstone for the real business environment.

About BFC

Bitcoin Free(BFC) The new encryption currency based on Cuckaroo29 algorithm is characterized by introducing mortgage mining mechanism on the basis of POW traditional mining, which limits the threshold of participation in mining. This mechanism can effectively avoid power monopoly, reduce the amount of digital money flowing into the market, and increase the income of retail miners. Make BFC more secure and credible, so that BFC prices can continue to grow.

Technical Parameter

Total circulation: 21 Million
Development team: 2,100,000 pieces, one-time block
Promotion team: 1,050,000 pieces, unlocked with the proportion of mining blocks
Miners digging: 16.89 million

Block time: 5 minutes
Block size:8MB
Initial block size: 25 BFC/Block
Half-cycle: about 4 years
Mining algorithm:Cuckaroo29
Mortgage strategy: 300 BFC for every K arithmetic mortgage and half mortgage for every 420000 blocks

Smart Contract

1. Innovative design of smart contract for block chain mortgage
Bitcoin Free improves the transaction primitives inside blockchain, and improve the mortgage transaction speed, mortgagee and intermediary to ensure the transparency and available of blockchain information.
2. Mortgage business scenarios
Bitcoin Free provides the mortgage smart contract protocol based blockchain, which will be widely used in commercial scenarios in the future, such as bank bills, credit loans, leasing services, credit guarantee, risk control and many other business areas.
3. Turing completeness smart Contract
Bitcoin Free smart contracts support Turing completeness programmable language, which is a set of promises defined in digital contract, including agreements on which contract participants can implement these commitments.
4. Programming languages and API tools
Bitcoin Free provides smart contract interfaces in various languages, which can cooperate with commercial area extensively and provide technical cornerstones for blockchain DAPP applications.

Problem Solved

1. Calculating power monopoly
The cuckoo algorithm adopted by BF can effectively resist ASIC miners and prevent the power from being monopolized by large mines, resulting in too much power and increasing difficulty for ordinary retail investors to gain profits.
2. Malicious smashing
The mortgage mining mechanism adopted by BF can reduce the circulation of the market, increase miners'money holding cycle, and prevent miners from digging and selling, invisibly leading to malicious crash.
3. Too fast an increase in arithmetic
Mortgage mechanism will actually increase the cost of miners'investment in mining. With the rising of the currency price, the mortgage fund of miners entering BF mining in the later period will be higher and higher, so as to control the rapid growth of the number of miners and avoid the loss of miners' interests.
4. Increase miners'right to speak
BF mining must hold BF and mortgage in order to obtain higher benefits. BF is more like the protection of the rights of miners. Without BF, we will not be able to obtain high profits.