With increasing usage and success of Bitcoin (crypto currency), more and more developers are coming up with new currencies. Some coins are script based, whereas others are backed by hardware and so on. BitcoinPlus is yet another addition to the world of digital currencies. Folks who are not familiar with this innovative crypto currency often wonder – what is BitcoinPlus (XBC). If you are one of these folks, read below to get a fair overview about the currency.
What is BitcoinPlus (XBC)?
It is a crypto currency that is generated by means of Proof of Stake. BitcoinPlus has a maximum supply of one million coins. However, the number of coins in circulation is less than 100,000.
The coin was launched back in march 2014 via an ICO at the Poloniex exchange. However, the original developer of the coin disappeared after getting ICO funds. While a team of a community was formed to take care of the coin, the members of the community soon disappeared with whatever coins they had. As such, the fate of the coin was at stake with a dark future. Finally, two members of the BitcoinPlus (XBC) community JJMV and Egghead took the responsibility of reviving and restoring the legitimacy of XBC.
These members hired reliable coder namely, Mammix2 to fix the wallet and included encrypted messaging to the wallet. Since most of the people lost trust in the coin, Egghead and JJMV introduced a sustainability plan to restore the confidence of people and investors, and the plan is in existence even today. In a nutshell, the coin is now completely safe and sustainable after efforts put in by some genuine people at work.
The technical specifics of XBC have changed over the course of time .As stated earlier, BitcoinPlus was purely based on Proof of Stake. This means any person who has a wallet is performing mathematical calculations and securing the XBC network. If you have BitcoinPlus coins in your wallet, you may expect a 20 percent increase in the number of coins over a period of one year.
While XBC still maintains its status as a Proof of Stake coin, the security of the coin network is beefed up using Proof of Work. It implies that if the network ever runs into issues, it is easy to move things on by switching over to Proof of Work.
Summary
BitcoinPlus works on Proof of Stake. To make the network more secure, it is possible to switch over to Proof of Work in case of issues.
Total number of coins in circulation is less than 100,000. Maximum supply of coin is one million.
The number of coins in your wallet is supposed to increase by 20 percent each year.
Currently, the coin has a sustainability plan to encounter any problem with transactions and working of the coin.
The value of 1 XBC = 0.03267861 Bitcoins (BTC).
With this handy information, there is no need to wonder – what is BitcoinPlus (XBC).
