Bitsend Your Digital Network,Questions And Answers
What is the name and official website of your coin?
The official name is BitSend, and the website can be found at this link:
Our Official thread = Bitsend Main Thread
Do you have social profile for your coin or groups if there are can you please send us all the links?
We only have an official Twitter account: https://twitter.com/Bit_send
Is there an ICO/Premine for this coin?
There was a pre-mine before the coin was renamed to BitSend and taken over by the current lead developer, Chris. However, this amount is no longer accessible to anyone.
What is algorithm behind the coin? Standard hash solving mechanism, or like in Primecoin case mining involves finding Cunningham chains or something else?Is coin POS/POW or mixed?
The coin is a POW coin and uses the XEVAN hashing algorithm, which was developed by the BitSend team.
What is the purpose of the coin? (Is is only used as currency or there is some deeper system behind it?)
The purpose of the coin is to provide a digital currency for multiple generations, enabling both peer to peer payments and anonymity if required. The primary target of the coin is to ensure a fair distribution for its users, combined with a plethora of important features.
What is special about the coin? Is it having any form of unique solution implemented?
Xevan – the hashing algorithm produced by the BitSend team.
DK3 – the difficulty retargeting algorithm also produced by the BitSend team.
Does dev or the team have any experience that makes them likely to succeed?
Chris has been a developer for more than a decade. There are also a few individual developers who are part of the internal team. You can look at the developers on the BitSend Github account: https://github.com/LIMXTEC (coin was previously called LimX).
What percentage of coins in circulation will the main developer have?
There is no premine, nor any kind of taxation (as found in Zcash for example). We can’t know how many coins the developer has. He’s an user of the coin just like everyone else. He mines, buys and runs masternodes.
Which algorithm will be used to verify the transactions, what is the mining reward structure and how would it be sustained?
I’ve previously mentioned the used algorithms. The mining reward is split 20-80. 20% goes to miners, 80% to masternodes. Similarly to Bitcoin, it is expected that the transaction rewards pick up in the future to sustain the coin after there are no more block rewards.
How were the software clients generated (did they use the main Bitcoin client or something else to make their software)?
BitSend is a combination of several projects. It uses code from Bitcoin, DASH, Megacoin, Dogecoin and a few others.
Is the coin deflationary with hard cap of coins or not?
The coin is deflationary with a hard cap, but has no block reward halvings.
Will you implement the same 1MB chain-crippling ‘technology’ supported by the bitcoin core team?
No. BitSend has a 10 MB block size limit.
If you ever had the chance to talk with Satoshis what would you ask?
No answer ask Chris
Even Vitalik Buterin with Ethereum can’t beat Bitcoin. How you gonna do it.
If your whole purpose is to attempt to beat Bitcoin, then there is nothing genuine behind the coin. There is only greed. We do not aim to fight Bitcoin, we aim to supplement the cryptocurrency space along side of it.
Normal transactions validate within seconds. The block time for BitSend is 180 seconds, and the recommended number of confirmations is 6.
One of the stable coin in the market
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All the elements of crypto currency are all here,great developer and marketing team working towards the success of this project.