Place/Date: Atlanta, GA, USA - March 17th, 2016 at 7:55 am UTC · 3 min read
C-bit is pleased to announce the network is now stable and the coin is functioning as designed. Platform is designed to specifically end the debate over the block-size issue between Bitcoin Core and Bitcoin Classic, and is fully compatible with Bitcoin Core .12.
C-bit is an exact clone of Bitcoin Core .12, to date, but already has the 2-Meg block-size built into the source code, negating the need for a Bitcoin Core Hard Fork. With this new coin, the debate over whether Bitcoin Classic should any longer be forcing Bitcoin Core to convert, is over. Bitcoin Classic now has a coin at its immediate disposal that is tailor-made for its stated purposes and meets all of its requirements. If Bitcoin Classic wants Bitcoin Core with a 2-Meg block-size, then C-bit fits the bill, and is ready to do business with Bitcoin Classic.
Again, the new coin is an exact clone of Bitcoin Core .12 . The source code is the same. All updates to Bitcoin are evaluated by our development team, then added to C-bit as they occur. As Bitcoin Core grows, C-bit grows. There are no structural differences between the Bitcoin Core Source Code and the C-bit Source Code.
“C-bit” , the new crypto-currency, can be found at : www.btc-bit.com
However, 2 parameters are different: the size of the blocks and the max number of coins. Bitcoin has 1-Meg blocks, whereas C-bit has 2-Meg blocks. Also, Bitcoin will have 21 Million coins total, and C-bit will have 210 Million coins. Instead of 50 bitcoins per block, the network produces 500 coins per block. The timing of blocks is the same. This makes C-bit potentially someday worth 10% of Bitcoins price. If Bitcoin is the $100 bill, then C-bit is the $10 bill. C-bit could be the “walking around” change.
The design theory of C-bit is to keep Bitcoin the decentralized “Central Bank”; i.e., a Central vault or the holder of wealth and a central storage of documents. C-bit can now become a system similar to smaller banks that act like branches to the Central Bank.
This smaller bank system will become more directly connected to Merchants and individual cash transfers and payment systems. The C-bit development team is already developing the payment and clearing systems to allow transactions between Merchants and individuals. However, this system will not be launched until the Coin can mature in the marketplace.
In addition, the C-bit Development team is working on Helix Technology, a promising project that could combine both Bitcoin and C-bit together into a DNA-type structure. This structure has promise to vastly increase the speed, power, and memory capacity of the resulting intertwined Bitcoin and C-bit Blockchains.
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