Hi friends, this time I will provide information about a very interesting project for you to know about a new cryptocurrency called Bitgesell. Before going to the discussion, I think we all agree that blockchain technology still needs efforts to encourage adoption so that it continues to grow and continue to develop in the future. So for that, let's see a brief review of the Bitgesell project below.
INTRODUCTION
The creator of BitGesell, Emma wu, got her inspiration from the german economist and entrepreneur johann silvio gesell who championed the idea of “freigeld”. Gesell believed that the answer to global economic problems was to use money as a means of exchange and not a store of wealth. If money were to come with an expiry date people wont stock pile their money but instead will put it to use by spending or lending it to others at no extra cost. Wu has combined the concept of freigeld with digital gold and supported it with a highly deflationary mechanism to create a true store of value in the crypto space.
WHAT TO EXPECT NOW THAT THE BitGesell HALVING HAS HAPPENED
Bitgesell, a young but novel blockchain project founded by Emma wu, relies on a spin-off of the original bitcoin coin base, with few key differences yet several similarities.
Bitgesell’s halving, only just happened on march 28th and due to the similarity in design between the two(bitcoin/BitGesell), rising share price momentum in bitgesell is building. However thanks to the differences between the two protocols, BitGesell could even perform better than bitcoin due to its unique deflationary mechanism.
BitGesell coin has a four times faster halving frequency than bitcoin meaning that miners receive 50% fewer BitGesell for verifying transactions boosting the imbalance between supply and demand at an increasingly quicker pace. Also unlike bitcoin, although bitgesell shares the same 21 million coin supply, 90% of all transactions fees are burned further strengthening digital scarcity.
WHY DEFLATION IS HEALTHY FOR THE GREATER CRYPTOCURRENCY ECOSYSTEM
.Bitcoin has gained so much fame recently as part of the digital gold narrative for its scarce 21 million BTC supply. Bitgesell starts the deflationary aspects of bitcoin up to max, burning 90% of all transactions fees.
Deflationary assets appreciate in value over time, as it discourages overspending. And in the current economic climate where inflationary degrees that currencies are being produced in the most abundance, even the type of deflation bitgesell provides is invaluable for investors seeking to protect wealth.
WHAT YOU NEED TO KNOW ABOUT BITGESELL
Bitgesell’s increased rate of halving will allow all coins to be mined much faster than bitcoin will thereby touching the total circulatory supply by 2054. This will ensure that the protocol can grow more faster with the cryptocurrency ecosystem and also more quickly tap into the full benefits of the first ever entirely true deflationary cryptocurrency.
The bitgesell name is based on a combination of what inspired the coins creation, bitcoin and german-argentine theoretical economist and socialist johann silvio gesell. Gesell sought to create a monetary system that expired due to an ongoing hatred of money itself. Silvio Gesell watched the financial crash of the late 1800s, leading to the widespread global poverty. His goals in his efforts were to protect new generations from future recessions. Bitcoin was also created based on such disdain for money in a traditional sense. The themes of both bitcoin and Silvio Gesell himself have been integrated into the bitgesell ecosystem from the ground up.
Bottom line
To make their tokens attractive to a broad user base, early-stage blockchains need to incentivize users to purchase and hold them. Addressing these goals, the project lists its assets on exchanges and announces staking initiatives and promo campaigns.
BitGesell, a unique “enhanced proof of Work” blockchain, now has its BGL token listed on DigiFinex exchange. BGL is available against USDT, while Bitcoin (BTC) and Ethereum (ETH) will be added soon.
To celebrate this ambitious milestone, BitGesell launches the “Candy Box” staking program and referral campaign. During these events, the holders of BGL can earn on their idle tokens and monetize their social exposure.
BGL Token
BGL is the ticker for the Bitgesell coin that is used as a store of value. It is a multi-chain coin that co exist on the binance smart chain as wrapped bitgesll (WBGL BEP20) and on the ethereum chain as a wrapped bitgesell (WBGL ERC20) They value of the wrapped bitgesell is the same as the original BGL on bitgesell chain, that is; 1 WBGL BEP20 = WBGL ERC20= 1 BGL.
This is what I can say in this article. If you need accurate and reliable information, you can visit their official link, which I have provided below:
- WEBSITE: https://bitgesell.ca/
- MEDIUM: https://bitgesell.medium.com/
- TELEGRAM: https://t.me/bitgesellofficial
DISCORD: https://discord.gg/uTZtBbRuEn
Username: Bidadari_surga
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1011291
BGL Address: bgl1qvlpr3gtmygp8twvyws8nqze8ejmcmqs5m3mn9r