Bitnet (BTN)

Bitnet (BTN) is a decentralized peer-to-peer network that enables the creation of programmable money and financial systems. Similar to Bitcoin in its decentralization, Bitnet also possesses the powerful capabilities of Ethereum. It operates without central authorities or banks and is accessible anywhere. The open-source nature of Bitnet allows for widespread participation, as it can be utilized by individuals, businesses, and developers alike. With its innovative technology, Bitnet enables the creation of comprehensive financial systems and tokenizing value on the internet.

Bitnet distinguishes itself from Ethereum in several ways. Unlike Ethereum, which had approximately 72 million ETH in circulation before its launch, Bitnet has no pre-allocated supply for founders or contributors. Every Bitnet exists because of energy and computational power exchanged by miners within the network. This absence of a central owner or power makes Bitnet censorship-resistant and truly unstoppable. Additionally, Bitnet utilizes an improved iteration of GoEthereum, enhancing reliability, speed, and cost-effectiveness. The project is committed to promoting decentralization, with new code developed to facilitate non-technical users running Bitnet nodes and ensuring the implementation of protocol changes and features through community involvement.

When comparing Bitnet and Ethereum, one can examine various aspects. Bitnet utilizes a Proof-of-Work (PoW) consensus mechanism, while Ethereum is transitioning to Proof-of-Stake (PoS). The transaction-per-second capacity of Bitnet stands at around 30, whereas Ethereum processes approximately 476 transactions per second. Regarding maximum block size, Bitnet’s limit is 30Mgwei, while Ethereum’s is 150Mgwei. Block rewards in Bitnet are fixed at 1 BTN, whereas Ethereum’s rewards are variable. Notably, Bitnet does not have a pre-mined supply, while Ethereum had 72,000,000 ETH allocated to founders and the team. Unlike Ethereum’s hard-coded policy, Bitnet’s monetary policy allows for flexibility and variation.