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Title: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 03:58:44 AM BIT TRUST SYSTEM Bit Trust System is an electronic trust system that is completely implemented by peer-to-peer technology. It is a system-level trust program based on blockchain and algorithm implementation. It ensures that both parties to a transaction can complete transactions online through algorithms. There is no need for any centralization organization. BIUT solves the key problem of trust reconfiguration in the new economy and new financial fields such as E-commerce, sharing economy, P2P, crowdfunding, etc. It is an essential way for developers, businesses, and users to open the door to the digital economy. Latest POW+POS Mining software: https://github.com/BIUT-Block/biutblock-client-pool/releases Mining ANN thread:https://bitcointalk.org/index.php?topic=5213776.0 https://i.imgur.com/BKJvFkR.png Trust coin BIUT Cryptocurrency used in the application layer, BIUT chain is used to record the activity of transaction accounts by transaction trust algorithm. Application：payment, mining interests proof, transaction mortgage, market trading fee, costs of arbitration and other disputes in the transaction. Total amount：1.5 billion Issue: Team 10%, foundations 10%, community 40%, 40% distributed by smart contract to the credit gatekeepers who secure the transactions in the ecosystem. Trust coin BIU Cryptocurrency used to pay the gas in the payment network. BIU chain used for account activity algorithm and filter the trusted nodes. Application: Transfer, the gas of smart contract, cost of issue customize parent chain node. Total amount: 1.5 billion Mortgage BIUT amount: In proportion to the amount of mining BIU, Minimum mortgage of this year: 10 ( no upper limit) Issue: Full issue The first 100 million of 750 million will be used for release as the holding amount, the release rate is one in ten thousand percentage every 3 months. The remain 650 million of 750 million BIU mining amount depends on the amount of the transactions. The mining amount will increase when the mining participants increasing and gas demands improving. Mining block adjustment formula: The output is related to the number of transactions in the whole network in the first two periods, and the period is three months. Calculate the output of the next cycle PQi+1: https://i.imgur.com/YdhIYN4.png PQi is the output of the last period. TQi is the transaction numbers of the whole network at last period, TQi-1 is the transaction numbers of the whole network at the period before the last period. In this formula: if TQi, TQi-1 is 0, Then add 1 respectively. The left 750 million BIU will be halved in 4 years • Website: https://www.biut.io • White paper: https://www.biut.io/data/white_paper/biut-whitepaper-v3.72-english.pdf • Software and Apps：https://www.biut.io/dapp • Mining Wallet: http://mining.biut.io • Facebook: https://www.facebook.com/BIUTBIU • Twitter: https://twitter.com/BIUTBlock • Instagram: https://instagram.com/biut_block/ • Reddit: https://www.reddit.com/r/BIUT • Medium: https://medium.com/@biut.io Our Global Community Discord: https://discord.gg/4dYFwYA BIUT English Community: https://t.me/BIUTBlock BIUT中国社区: https://t.me/BIUTBlockChinese BIUT Public chain technical feature: Two chains structure, Two coins economic model, JavaScript, unique Autonomous system, Node communities, Modular design, Polling mechanism, TrustRank algorithm, PGPOW consensus mechanism(Combination of POW and POS consensus algorithm). PC-Miner Mining feature: CPU mining with a Combination of POW and POS consensus algorithm，anyone can join PC-Miner to become BIUT Miner with a general PC. BIUT website:https://www.biut.io/ BIUT explorer:https://scan.biut.io/ PC-Miner download link: 1.biut.io/dapp ; 2.https://github.com/BIUT-Block/biutblock-client-pool/releases; Public mining wallet: 9cb6f427db8d457ae3e659bd6ec8db78652fe95c96ef6dad65c9c90bef67fc98 (Private key, use to import wallet to the PC-Miner) Public mining wallet address :0x174a846a97a09685a51b6719904ae10fc981d7e4 Mining Tutorial:https://www.youtube.com/watch?v=3wc8vnBB-Rc&feature=youtu.be Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:01:04 AM Exchange : https://trade.coinegg.com/trade/biut_usdt/ https://www.biki.com/trade/BIUT_USDT https://big.one/trade/BIUT-USDT https://big.one/trade/BIUT-ONE Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:10:48 AM • Software and Apps：https://www.biut.io/dapp
https://i.imgur.com/VcojqVV.jpg https://github.com/BIUT-Block/biutblock-client-pool/releases https://i.imgur.com/jIw8ghX.png Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:13:37 AM AMA
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: safari88 on December 31, 2019, 04:15:18 AM i saw that there is 40% to the community, can you explain how you will distribute it to the community?
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: frol00 on December 31, 2019, 04:27:04 AM Where to get an invite?
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:30:57 AM I saw that there is 40% to the community, can you explain how you will distribute it to the community? Hello, thank you for asking. Actually, the 40% BIUT all sold to the private sale. We don't have a public sale. Then another 40% BIUT for the gatekeepers (we have ecological applications in the future ) Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:31:43 AM Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: frol00 on December 31, 2019, 04:37:26 AM How to join the pool? Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: safari88 on December 31, 2019, 04:38:08 AM Hello, thank you for asking. Actually, the 40% BIUT all sold to the private sale. We don't have a public sale. Then another 40% BIUT for the gatekeepers (we have ecological applications in the future ) how about the rate for each BIUT that available for sale? one more what is the algorithm of this coin? Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 04:59:27 AM Hello, thank you for asking. Actually, the 40% BIUT all sold to the private sale. We don't have a public sale. Then another 40% BIUT for the gatekeepers (we have ecological applications in the future ) how about the rate for each BIUT that available for sale? one more what is the algorithm of this coin? No more than 15% available now. Algorithm: POW+POS Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 05:06:45 AM How to join the pool? Mining tutorial : http://mining.biut.io/#/walletHelp Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 05:35:32 AM Mining tutorial
Web Mininig and PC-Miner guide ：http://mining.biut.io/#/walletHelp KOREAN: https://medium.com/@biut.io/%EC%9B%B9-%EB%A7%88%EC%9D%B4%EB%8B%9D-%EC%A7%80%EA%B0%91-pc-miner-%ED%8A%9C%ED%86%A0%EB%A6%AC%EC%96%BC-ed931fea3f72 others tutorial article:https://www.publish0x.com/crypto-tricks/biut-simple-pc-miner-mining-tutorial-xmjpej Video: (if you choose to join the mining pool, you can't use the SAME wallet to mine on PC-Miner) PC-Miner: https://youtu.be/4QEKTydFwc4 Join Mining pool: https://youtu.be/BWsoFfljw48 Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: Daytona_tj on December 31, 2019, 06:28:21 AM Hello, thank you for asking. Actually, the 40% BIUT all sold to the private sale. We don't have a public sale. Then another 40% BIUT for the gatekeepers (we have ecological applications in the future ) how about the rate for each BIUT that available for sale? one more what is the algorithm of this coin? No more than 15% available now. Algorithm: POW+POS Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on December 31, 2019, 08:45:14 AM Hello, thank you for asking. Actually, the 40% BIUT all sold to the private sale. We don't have a public sale. Then another 40% BIUT for the gatekeepers (we have ecological applications in the future ) how about the rate for each BIUT that available for sale? one more what is the algorithm of this coin? No more than 15% available now. Algorithm: POW+POS yes, we have our special trust Algorithm(it is similar to Google's PageRank algorithm ) and recently we also have a breakthrough. if you want to know more and I suggest you read our whitepaper. I wish I could explain the whole thing here, but I afraid that I can't show full aspects of our Algorithm. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: acty on January 01, 2020, 05:31:21 AM it's gpu only?
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: keseoma on January 01, 2020, 10:02:39 AM seems we need to buy the coin first and then mining with mortgage 10 BIUT to mine ?
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 01, 2020, 10:44:04 AM it's gpu only? Hello, it is CPU and POS Mining. we combine POW and POS.Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 01, 2020, 10:45:29 AM seems we need to buy the coin first and then mining with mortgage 10 BIUT to mine ? Yes, Lock up 10000 BIUT for one year. :) After one year, the BIUT will be released automatically. It is kind of free mining. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: andycarrol on January 01, 2020, 01:48:18 PM Yes, Lock up 10000 BIUT for one year. :) After one year, the BIUT will be released automatically. It is kind of free mining. if we lock up 10k BIUT how many BIUT will we earn for POS? Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: frol00 on January 01, 2020, 02:06:22 PM Why did the "my mining" tab disappear?
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 02, 2020, 12:12:25 PM Why did the "my mining" tab disappear? please use mining.biut.io for checking web mining information. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 02, 2020, 12:17:45 PM Yes, Lock up 10000 BIUT for one year. :) After one year, the BIUT will be released automatically. It is kind of free mining. if we lock up 10k BIUT how many BIUT will we earn for POS? it depends, 10k BIUT you can get 0.695 BIU in one block, while foundation will reward you same amount BIU. So you get 1.38 BIU of one block. the blocks output depends on your CPU. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 04, 2020, 07:41:22 AM Announcement
The latest PC-Miner of rebuilding staging tree will be released tomorrow. The current low efficiency of blocks output and the mining pool balance display problems will be resolved within two versions. Thank you for bear with us while we are upgrading. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 05, 2020, 02:28:18 PM https://github.com/BIUT-Block/biutblock-client-pool/releases/tag/1.2.60 version update
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 07, 2020, 02:58:15 AM V1.2.61 https://github.com/BIUT-Block/biutblock-client-pool/releases/tag/1.2.61 Fixed a small bug
Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 16, 2020, 09:26:00 AM PC-Miner 1.2.62 New version has uploaded to the official website: https://www.biut.io
You can download on this site: https://www.biut.io/dapp -Improved BIU blocks output efficiency -Reduced verification time -Improved Blocks syncing time -Fixed balance and total profits display problems There are many changes in the new version so you should uninstall the old PC-Miner before you install a new PC-Miner. Then delete the old "Data" folder and put the new "Data" folder to in your installation folder. New "Data" folder download link: https://mega.nz/#F!BtEUiKoJ Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 19, 2020, 02:41:14 AM Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on January 21, 2020, 03:00:01 AM Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on February 07, 2020, 07:02:33 AM https://medium.com/@biut.io/the-explanation-of-biu-output-reduce-in-pc-miner-v1-0-66-ca56bec525d6
BIUT team upgrades two versions PC-Miner and make some adjustments on V1.2.66 and receiving many requirements about the BIU output from the Chinese Community. The followings are the details for the explantation of upgrade. First of all, BIU output will be adjusted every three months(One phase) depends on the demands of the whole main net(Refer to the white paper), this is according to the economic model of the public chain, it is unmendable. The following versions will be automatically executed. Secondly, The economic model of BIU is different from Bitcoin, Which halves in 4 years and the attendants take advantage of joining early. In the BIU economic model, one half of the BIU output decided by the users’ demands and the remaining halve in four years. It meets the tendency of blockchain industry and also benefits the sustainable development and fair environment for public chain The last one, The BIU output may be higher or lower in the next phase(after three months), it depends on the development of the application. The BIU output will increase even higher If the upcoming applications run smoothly. BIUT Public chain was developed for about two and a half year, it launches only about 6 months and currently at the early stage. Therefore, the Chinese community promoted the ‘Great Navigation Plan’ for PC-Miner. There are multiple parties that take part in mining. We need to make adjustments according to the rule and code. During the next stage, we will take the advice provided by the main participants and the Chinese community into considerations to make PC-Miner better. The BIU output of every three months was written in the white paper and not adjustable by the technical team. Our technical team is working on the application(suppose to launch on season 2), we apologize for the inconvenience that the constantly main net upgrading caused. BIU output adjustments formula of every three months(The more BIUT transactions volume, the more BIU will be mined.) The second-phase calculation adjustment: The real transactions amount in the first-phase= ((550307–240250*2)/7)*3=29917.28571428571 Output adjustment: Square root of First-phase BIU total transaction volume/0-phase BIU transaction volume = Square root of (29917.28571428571 / 10000000)) = 0.05469643 BIU output of next phase=Previous phase output* Output adjustment =6.94445*0.05469643 =0.3798 For example: Lock up 100000 BIUT, each block contains 6.94445 in the previous phase. Then each block contains 0.3798 BIU in the next phase. Download PC-Miner on biut.io/dapp Join Our Discord Community:https://discord.gg/b4Mjuu Telegram: https://t.me/BIUTBlock Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on March 12, 2020, 03:58:37 PM https://medium.com/@biut.io/pc-miner-v-1-2-66-mac-windows-stable-version-release-8d0834e6be57
We release the Mac and Windows english version of PC-Miner, enjoy your BIU Mining. V1.2.66 has running stable for a long period of time. Title: Re: [ANN] Bit Trust System - New economy/Finance/Defi Post by: BIUTBlock on March 25, 2020, 05:59:35 PM PC-Miner download link:
1.biut.io/dapp ; 2.https://github.com/BIUT-Block/biutblock-client-pool/releases; Public mining wallet: 9cb6f427db8d457ae3e659bd6ec8db78652fe95c96ef6dad65c9c90bef67fc98 (Private key, use to import wallet to the PC-Miner) Public mining wallet address :0x174a846a97a09685a51b6719904ae10fc981d7e4 Mining Tutorial:https://www.youtube.com/watch?v=3wc8vnBB-Rc&feature=youtu.be |
