In the previous article, we talked about a new block-project, one of the features of which was the lack of an ICO , which immediately highlighted it among all the others. The thing is that the creators of Bitcoin Origin, who came up with the concept of a crypto currency penta-plug, are so confident in the success of their project that they themselves invested in its fund for further implementation.
The idea of Bitcoin Origin is to create a crypto-currency fork that will consist of five main crypto-currencies (based on their market value): Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. For participation in the fork, users from among the holders of these Proof of Work kriptovalyut will be proportionally rewarded with ORI tokens. The smart-contract follows the distribution of the tokens, which fixes the market value of each of the five crypto-currencies at the moment the plug is implemented.
As promised, in this article we will talk about how the concept of "fork" appeared at all and how the creators of Bitcoin Origin will be able to protect the environment by launching their project.
From the history of the "fork"
The strategy of the so-called "plug" found its application in binary options. It provides for the simultaneous implementation of two rates for such a trade, when a sharp change in the market value of an asset can occur in the shortest possible time period. One bet is to raise the asset, and the other - to lower, due to what inherently it is a win-win.
The fork strategy came in binary options, and now in cryptotrading, in no other way than from sports bets. In betting, a fork is called a win-win bet for a match, in which the capper puts two teams at the same time, or any other opposite result. In this case, the bet is carried out at different bookmakers, whose coefficients for the same match may differ.
So, putting in one office for the victory of one team with a coefficient of 2.3, and in the other - to win another team with a coefficient of 2.8, the same amount, the capper in any case remains in the black. The only exception is a draw, so the bets are most often carried out on those sports where draws are not stipulated by the rules. It is from this scheme that the so-called "fork" in binary options appeared in sports bets, and now the founders of Bitcoin Origin unite five main crypto-currencies in the fork.
Taking care of the environment
The idea of creating Bitcoin Origin was formed at the founders of the fund last year, when the participants of the crypto-currency market, especially the miners, faced a number of problems related to Proof of Work - excessive consumption of electricity by equipment for mining, centralization of mining resources and a tangible decrease in profitability of mining as a whole - profit hardly covered expenses for payment of the electric power and regular purchase of the equipment.
These events and became one of the reasons for creating a solution Bitcoin Origin, in particular, the concept of serverless blockbuster and Proof of Ambassador, which will replace users with the traditional Proof of Work. Proof of Ambassador will be a kind of combination of the mechanisms of Proof of Authority and Proof of Stake. A feature of this decision will be a participant like the Ambassador, which in its essence will be the network's validator.
One of the main advantages of the Proof of Ambassador mechanism will be what the English-speaking part of the population calls eco-friendly. This, in turn, means that this mechanism of consensus provides not only a much higher profitability, but also a much less harmful environment for the environment, the Ministry of Finance.
Plus, to confirm transactions on the part of the validators will need much less electricity than in the case of mining on the principle of Proof of Work. Thanks to this, Proof of Ambassador will significantly reduce global electricity consumption by using crypto currency. Such a decision will be especially relevant against the backdrop of the scale of electricity consumption due to the mining of bitcoin - in total it exceeded daily electricity consumption by 520,000 inhabitants of Canada or as much as the entire Republic of the Congo.
The next article in the review will be final, so we are going to talk about the main thing for potential participants of Bitcoin Origin - how this can be earned .
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