TheWrapped Bitcoin One Step Closer to Viable Cryptocurrency

in lsdkhls •  last year 

A new cryptocurrency that combines the finest qualities of bitcoin and litecoin is described in the paper. Bitcoin, the original cryptocurrency, has a proof-of-work (PoW) mechanism in which miners compete to validate transactions and rake in accompanying fees. In litecoin, a cryptocurrency of the second generation, miners compete to verify blocks and get rewards based on their hash rate in a hybrid PoW/PoS system. Due to their simplicity and lack of complex technological requirements, both currencies have been successful in drawing users.

The Wrapped Bitcoin One Step Closer to Viable Cryptocurrency (WTBC), which incorporates the greatest aspects of both cryptocurrencies, is the only PoW system that is presently immune to 51% assaults. By combining proof-of-work (PoW) and proof-of-stake (PoS), the WTBC offers all the benefits of both PoW and PoS systems while requiring no more computational power than either.

Using their own coding, the authors have developed a testnet and an exchange where users may swap WTBC tokens without having to wait for the mainnet to become live.

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