What‘s Bank of Hash Power
Bank of Hash Power (BHP) is an innovative blockchain financial management platform derived from global hash power asset. Its goal is to redefine the value of the internet finance based on blockchain hash power. Bank of Hash Power Cash (BHPC) is a kind of digital currency issued by BHP and its acceptance of credit endorsement is the hash power of Bitcoin, Ethereum and other mainstream digital currency. It is aiming to achieve the connecting between the physical world and the digital world by transforming hash power to tradable efficient digital assets, and therefore redefining the credit and value of the internet blockchain. By converting the hash power assets to a medium of value, BHP is determined to build a blockchain business financial service platform providing international payment and settlement, credit vouchers, mortgage lending, financing, reinvestment of assets, etc. and a series of digital currency finance business. With the hash power of tens of thousands of mining machines in our mines as a basis, as well as the potential join of other global mines’ hash power in the future, BHP platform will build a decentralized digital currency bank through the issuance of BHPC.
BHP takes the hash power of tens of thousands of mining machines in its mines as a guarantee of the value of BHPC, and plans to absorb other potential global mines’ hash power to make it part of this series of value guarantee, and thus builds a firm and reliable decentralized digital currency bank.
A consensus mechanism of Proof of Power(PoP) is first proposed by BHP.
The PoP mechanism absorbs Proof of Stake (PoS) mechanism which represents the developing trend of digital currency and makes a blending of the advantages of PoW and PoS mechanisms, and thus innovatively introduces the PoP + PoS hybrid mechanism. With the powerful hash power servers as an efficient testimony for international transactions, payments and other functions, this mechanism applies other parts of its hash power to traditional PoW mining at the same time, and distributes the revenue from this operation to the users in order to ensure the value basis of BHPC.
The improved PoS mechanism on the application layer of BHP is designed to witness the users’ all kinds of financial operations. The hybrid mechanism could get rid of the problems of high consumption and slow testimony of the PoW mechanism which is commonly used in Bitcoin and other existing digital currencies. Meanwhile, the new mechanism realizes the transaction speed with high concurrency which is very beneficial for micro-payments and cross-border settlement. Depending on the PoP + PoS hybrid mechanism, BHP could provide the users with more convenient and efficient financial and financial derivatives services, shorten the period for auditing and listing financial derivatives, accelerate the trading, improve the quality and efficiency of financial services, and thus provide unprecedented efficient digital currency financial services.
BHPC is the service certificate of BHP. Users could use BHPC to get all the digital currency financial services provided by BHP, including but not limited to futures contracts, gambling agreements, digital currency trading, bank deposits, foreign exchange settlement, settlement of cross-border trade, issuance of private vouchers and other financial services. Through the services of BHP, users can easily achieve all the important operations such as investment management and assets saving on the blockchain. In fact, any user accessing to the network can enjoy the more convenience decentralized financial services provided by BHP.
Public global tokens available: 75,000,000.
Solving the problem: Digital currencies will inevitably make a full coverage of commercial applications. But in traditional business activities such as B2B, B2C and C2C, the most basic application scenarios like credit lending, mortgage guarantees, assets replacements, VISA-level settlement payments, stored values and contract, etc. which require traditional banking system’s support, are lost in digital currency field. The BTC or ETH with “digital gold” value is not suitable for large-scale commercial applications due to its disadvantages of high consumption, slow testimony and high service fees. Other existing digital currencies are enjoying some kind of originality in their respective application areas. But they do not have the credit value of BTC and ETH and therefore they are difficult to be used widely. The BHP system will solve the problem of intermediary missing in digital currency bank, take both the credit value and user experiences of digital currency into account, and take the lead to meet the more diversified requirements of transactions, deposits, profits, assets replacements, re-investment, etc. from global customers.
Development goals: The goals are to issue decentralized BHPC tokens guaranteed by hash power and to build the first blockchain business digital currency of settlement. The users can use BHPC in hand as the settlement currency to achieve decentralized international settlement payment and other financial operations and applications of internet digital assets. Users could also use their digital assets in BHP for mortgage, bet, exchanging, registering, and could legally convert them to other digital assets under certain rules.
