Coinpayments, an integrated cryptocurrency payment gateway has announced that it now supports Bitcoin Plus (XBC). So what is Bitcoin Plus (XBC)? Of course, not to be confused with Bitcoin (BTC). The creators behind BitcoinPlus are high on its 20% POS annual stake reward with inflation fixed at 20% until 1 million coins have been mined by the year 2030.
BitcoinPlus is a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) coin. However, there is zero reward for PoW whereas there is 20% reward annually (1 Year) for PoS.
The 20% stake makes it one of the best stake coins among all alts. Bitcoin, on the other hand, will mint 21 million coins, XBC can process more transactions per second than Bitcoin and is more malleable, but don’t get them confused…
In the words of the official coin roadmap:
“The XBC Project sees BitcoinPlus as a direct competitor to Bitcoin. BitcoinPlus is faster (10x faster block times) and users can easily choose whether to use TOR or not. It does not have the scaling issues Bitcoin has. The XBC Project is always looking at current trends especially those geared towards greater security and efficiency.”
While the coin is slowly gaining some integration like the mentioned support from Coinpayments, the community is still working to improve its features. First, it is understood developers are actively looking into integrating Lightning Network and also looking to get listed on more exchanges with more listings imminent. XBC is currently listed on Poloniex, Cryptopia, CoinExchange.io, and Nova Exchange.
Is XBC worth taking a risk on? That we can not answer but current prices sit at Bitcoin Plus (XBC) / 63.68 EUR, 54.89 GBP, 69.1 USD, and 0.04040838 BTC at time of publish.
The coins technical specifications look like this:
|POW Algorithm:||X13. Block reward is currently Zero – Note Proof of Work is used only to secure the network where necessary.|
|POS Stake Reward:||20% Annually. (Calculated per 365 days)|
|Minimum Stake Age:||12 hours (Coins must be in the wallet for 12 hours before being eligible for Staking)|
|Coin Reward Maturity:||110 Blocks (Once newly created coins have reached 110 block confirmations they will become spendable)|
|Block Time:||60 Seconds|
|Maximum Block Size:||1.5MB or 1500000 Bytes|
|Max Supply:||1,000,000 (1 Million) Coins (After which no NEW coins are rewarded. Currently rewards are made up of NEW coins and transaction fees. Once 1,000,000 coins is reached all rewards will come from transaction fees only).|
|Current Total Coins:||96020 (Correct as of 08/05/2017)
Approximate Total Coin Supply by Year (Inflation fixed at 20%):
The XBC Project sees its main priority at the moment as increasing User Adoption. This is not a short-term project and increasing user adoption will take time. This will be done by a number of methods including but not limited to–
- Frequent updates to the Bitcointalk Forum Thread
- Frequent Website Updates – Blog Posts, Coin Specs etc
- Frequent Social Media Updates – Facebook and Twitter
- Frequent Wallet Updates for all Platforms – Windows, Linux, IOS, Android etc
- Marketing Campaigns – Paid and non-paid – Articles, Banners etc
- Getting XBC on more Exchanges
- Getting XBC accepted by more merchants on Coinpayments and Cointopay (if you hold XBC and enjoy spicy food, it was just announced that BitcoinPlus is now accepted at PexPeppers, a start-up company based in Pueblo, Colorado who specialize in only the finest chili sauces, jellies, salts, seeds and more.)
What The XBC Project can achieve is entirely dependable on the XBC Price as the funds from the Sustainability Plan are received in XBC. There is no guarantee of a future XBC Price and the XBC Project will not gamble on the future XBC Price and over commit or over spend. There is, therefore, no guarantees of what can be achieved and in what time frame.
To learn more read BitcoinPlus Hybrid Proof of Stake Explained.