Bether - Bitcoin on Ethereum: BTC + ETH = BTH---
Warning! The Bether Multisig Wallet has been affected by the recently discovered vulnerability in Parity.
Please, do not send ETH to the Bether Smart Contract until further notice.
More info:
https://bitcointalk.org/index.php?topic=2008631.msg20246560#msg20246560---
Bether builds on the unique attributes of Bitcoin by using the Ethereum network.
Name: Bether
Symbol: BTH
Max. Supply: 21 Million BTH
Initial Reward: 50 BTH per Ethereum block, halved every 210,000 blocks
Blockchain: Ethereum, ERC20 Token Standard
Security Bounty: 25,000 USD will be distributed in security bounties
Other Details: 0% Pre-Mined, 0% Founder's Allocation, 100% Mineable Token
Website: https://bether.orgBether Wallet: https://bether.org/wallet/Source Code: https://github.com/betherproject/BetherTwitter: https://twitter.com/betherorgBether Smart Contract Address: Warning! The Bether Multisig Wallet has been affected by the recently discovered vulnerability in Parity. More info:
https://bitcointalk.org/index.php?topic=2008631.msg20246560#msg20246560Contract Deployed on: Ethereum block number 3,988,727.
Starts on: Ethereum block number 4,000,000.
Inquiries to
bether@protonmail.comSmart Automated MiningMining is determined by a mathematical formula that rewards BTH to all miners in proportion to the amount of ETH they have each sent to the Bether Smart Contract.
What is Smart Automated Mining?It is an open-source, math-based process defined in the Bether Smart Contract from inception. It does not require hardware or monitoring - a simple ETH transaction triggers automated mining.
How does it work?The user sends any amount of ETH to the Bether Smart Contract, and in exchange, the contract assigns the user (now a miner) a theorical Hash Rate. Using the theorical Hash Rate, the Bether Smart Contract allocates the amount of BTH to each miner every time a new block is discovered in the Ethereum Network. The miner's resulting BTH rewards per block will be proportional to the amount of ETH sent by him/her relative to the total amount of ETH sent by all miners.
How and when is the Hash Rate calculated?The Hash Rate is updated instantly when the miner sends any amount of ETH to the Bether Smart Contract. Each Wei sent to the contract gets you 1 Hash.
What is the BTH reward per block?The intitial reward is 50 BTH per block and halves every 210,000 blocks - which is approximately every 36 days.
How are the Miner's Rewards calculated?The BTH Reward formula is: [block_reward] * [miner_hashrate] / [total_miners_hashrate] per block on each halving. The resulting amount from the Reward formula, will be the amount of BTH allocated to the miner available for claim on each halving.
How much BTH will be issued in total?A total of 21 Million BTH will be issued and assigned to miners over the entire distribution period of 13,440,000 blocks, approximately 6 to 7 years. No more than 21 Million BTH will ever be issued.
How do I claim my BTH rewards?Rewards are claimable after each halving in the same offset block of the contribution transaction. To claim your BTH rewards, send a transaction to the Bether Smart Contract Address while calling the claim() function, and you will instantly receive your claimed BTH rewards. The most easy way, is to claim your BTH rewards from the Bether Wallet front-end. If you do not claim your BTH rewards, they will remain in the Bether Smart Contract until claimed.
Do I need special hardware or skills to become a miner?No. You just need to send any amount of ETH to the Bether Smart Contract, you can do so by yourself or using the contribute feature in the Bether Wallet.
Is this an Initial Coin Offering?No. The Bether distribution plan is governed by the Smart Automated Mining process embedded in the Bether Smart Contract. It is open-source and purely math-based. We recommend that you perform proper due diligence before sending your tokens away, including but not limited to Bether.
Are there bounty rewards?Since the BTH distribution plan is math-based and defined by the Bether Smart Contract from inception, it does not offer any Translation-, Social- or Marketing-related bounties. The only bounty available is the Bug Bounty Program, which will be funded by the Bether Foundation.
When does is start?The Bether Smart Contract has already been deployed in the Ethereum Network. The code is available for review on Github. The release is planned to coincide with the mining of Ethereum block 4,000,000-, which will occur on 9th of July, 2017. Any ETH transactions occuring before then will be returned to the sender (minus network fees).
Is Bether Pre-mined?No. 100% of Bether tokens will be mined via the Smart Automated Mining code defined from inception by the Bether Smart Contract.
How large is the Founder's Allocation?There is no Founder's Allocation or reserve of any kind. Bether is 100% mineable and designed to maintain the unique attributes of Bitcoin.
What will happen with all the ETH collected?All the ETH collected from the Smart Automated Mining will be managed by the community thanks to a voting mechanism integrated in the Bether Smart Contract.
