Hello to my fellow crypto currency enthusiasts!
I would like to present a new concept called Bterworld. Bterworld is a brand new business model which based on the ubiquity of mobile Internet technology and EGD. EGD is a peer-to-peer crypto asset recently launched on 16th May 2014.
Our currency: Our crypt asset is EGD. We are creating an online netizen community ‘Bterworld’ that practices a ‘joint management, wealth-sharing’ concept. It incorporates two of the world’s most prevalent technologies: mobile application and internet finance.
Our practice: Unlike other crypto-currencies, EGD is adopted in a business world, thus our consumers can enjoy a business’ success. Merchants and members will purchase EGD and send to consumers as consumption rewards. Consumers can trade or convert their EGD into any fiat currency on an exchange platform, thus creating a virtuous cycle. This is very attractive to consumers due to EGD’s fixed total volume; with an increase in demand, its price will increase as a result. It adopts the O2O platform, whilst ending the tedious tradition of business vouchers. In such way, EGD achieves the networking, integration and capitalization of global business reward points. Our crypto-asset EGD will be the wealth connector between global merchants and consumers.
The creation of this currency stems from its visions:
To revolutionize the business society
To create a wealth sharing, global economic cycle that will begin to bridge the gap between the rich and the poor.
EGD will change the current situation of Internet industry, marketing, traditional business and investment industry. It will recover the flaws of the market-oriented economy that cannot be overcome by itself, change the traditional competitive relationship between consumers and merchants and revoke and release the business social wealth and renovation motives. EGD will become the explosive innovative leader in brand new business models and the core of the new age business trend without any suspense!
Some special things you need to know:
1．Security/Privacy
a. Asset storage
Since all the transaction data and remaining balances are backed up in all internet users’ nodes, it is impossible for hackers to destroy data storage in a traditional way which faces too many, dispersive, secluded attacks. According to the encrypted digital assets protocol, it is only possible for a hacker to change the protocol by collecting more than 51% of EGD in circulation. However our EGD designer has destroyed 42 million private keys which is half of the total volume at the beginning. Such a design, renders it impossible for the total volume in circulation to be more than 50% of the total volume.
b. Asset transportation
Just like every other e-mail address account, every EGD user will own their own unique account address (for example: EPzyqib7JdtvQ5mPhyFYqjUhrmKEdvpG8g) called a public key with one pass code. All the account information access and account operation require every user’s account address and pass code which are a public key and a private key. Those keys are developed from decentralized internet, and are completely controlled by users. Users have absolute right of control. If those keys were lost, no one could recover them.
c. Privacy Protection
EGD is anonymous in the process of generation, storage and transfer. Just like e-mail, there is no need to provide personal information to create an account (except for different requirements for exchanging fiat money in different nations). Users don’t need to worry about any risk or loss caused by information disclosure or improper use.
EGD is the third kind of standardized asset form and carrier of wealth after monetary assets (deposit), physical assets (car, house). EGD is also the purest of this form in internet finance. In the internet environment, EGD can achieve value appreciation through netizen transaction and commercial activities.
2．Coin Features
a. Limited total volume
The reason why EGD is an asset is that EGD has limited volume. According to its internet protocol, the output amount of EGD declines by 50% every four years and will gradually approach a fixed total volume. The scarcity of EGD differs from information duplicated limitlessly in the traditional internet, and then becomes the precondition of a crypto asset.
b. Decentralized
Based on P2P technology (like VeryCD and BT download technology), EGD achieves decentralization which utilizes every individual’s PC or mobile phone’s computing power of through internet protocol instead of a local server that backs up all end user software synchronously.
The global synchronization backup is realized by the most advanced technology “Block Chain” in the global digital encryption area. This kind of back up encryption saves : 1) all the transaction data and 2) the balance of each EGD account in the block-chain. With the help of network information transmission at the speed of light, we can synchronize data in minutes through all internet users. This is equivalent to a unified, real-time, back-up account book formed by all users worldwide.
This enables every user’s terminal software to determine the following issues automatically in every transaction:
1.Does the account address have enough stock? (Avoid malicious overdraft)
2.Does the transferred EGD belong to the previous transferee’s account address? (Avoid fraudulent transactions)
3.Has the transferred EGD been transferred before? (Avoid dual trading)
In this case, we form a self-run sustainable ecological system of internet digital encrypted asset. At the same time, it is the first time in human history to generate such a trusted global asset transaction system without social trust from trading partners.
c. User-Friendly
With Bterworld you can start using the Bterworld platform immediately. We also have numerous tutorials that can guide you trough, at the beginning.
d. Open
As a community-driven, open-source project, we’re establishing a sustainable worldwide wealth connectors and create a wealth sharing economic cycle in which both merchants and consumers enjoy a win-win relation.
e. Safe and secure
Since all the transaction data and remaining balances are backed up in all internet users’ nodes, it is impossible for hackers to destroy data storage in a traditional way which faces too many, dispersive, secluded attacks. According to the encrypted digital assets protocol, it is only possible for a hacker to change the protocol by collecting more than 51% of EGD in circulation. However our EGD designer has destroyed 4.2 million private keys which is half of the total volume in the beginning. Such a design, renders it impossible for the total volume in circulation to be more than 50% of the total volume.
f. Privacy Protection
EGD is anonymous in the process of generation, storage and transfer. Just like e-mail, there is no need to provide personal information to create an account (except for different requirements for exchanging fiat money in different nations). Users don’t need to worry about any risk or loss caused by information disclosure or improper use.
g. Asset transportation
Just like every other e-mail address account, every EGD user will own their own unique account address (for example: EPzyqib7JdtvQ5mPhyFYqjUhrmKEdvpG8g) called a public key with one pass code. All the account information access and account operation require every user’s account address and pass code which are a public key and a private key. Those keys are developed from decentralized internet, and are completely controlled by users. Users have absolute right of control. If those keys were lost, no one could recover them.
h. Instant Transactions
Execute transactions in real time without having to wait for the 1 minute block time.
i. Transaction costs
The EGD Asset Exchange is a peer-peer exchange built into the software allowing decentralized trading and eliminate trading fees. There is only a cash withdrawal fee of 0.1 %.
j. Peer-to-peer financial market
Trade EGD with anyone else quickly and cheaply. You do not even need to know or trust the person with whom you are trading, as the system itself takes the role of the middleman, being totally trustworthy and having no need to profit off your trades.
k. Proof-of-stake
EGD’s major distinguishing feature is that it uses proof-of-stake/proof-of-work hybrid system. The proof-of-stake system was designed to address vulnerabilities that could occur in a pure proof-of-work system. With Bitcoin, for example, there is a risk of attacks resulting from a monopoly on mining share. This is because rewards from mining are programmed to decline exponentially, which may decrease the incentive to mine. As miners decline, the likelihood of a monopoly increases, which leaves the network vulnerable to a 51% attack. With a proof-of-stake system, new coins are generated based on the holdings of individuals. In other words, someone holding 1% of the currency will generate 1% of all proof-of-stake coin blocks. This has the effect of making a monopoly more costly, and separates the risk of a monopoly from proof-of-work mining shares.
EGD’s are earned solely by charging transaction fees. The network is secured by owners of already existing EGD that obtain portions of transaction fees for forging a block. The bigger the stake, the more potential to forge a block. This allows everyone on the Bterworld network to have the same reward potential no matter the amount of EGD you own.
l. Energy efficiency
EGD’s proof-of-stake system addresses the high energy consumption of Bitcoin. For example, as of April 2013 the Bitcoins were using approximately $150,000 USD per day in power consumption costs. The proof-of-stake method of generating coins requires very minimal energy consumption; it only requires the energy to run the client software on a computer, as opposed to running resource-intensive cryptographic hashing functions.
Last but not least, welcome to Bterworld.com. Feel free to brows trough our content, contact us any time and ask any question you like.
www.bterworld.com/Show_index_en/index.htmlDon't forget to follow us on twitter!
With love,
The Bterworld team
