BitGreen: The Future of BITG

After months of preparation, we are excited to announce 3 developments:

  1. A new name and identity in BitGreen
  2. An updated roadmap for The Green Protocol
  3. A significant wallet update including a new tab for Network Funding

Bitcoin Green → BitGreen

Bitcoin Green will be changing its name to BitGreen as well as updating the logo to a more modern design, as seen above. This was a decision that resulted from many discussions between BITG team members, community leaders, stakeholders and advisors. We believe there will be a number of ecosystem-wide benefits from this decision:

  • As the BITG ecosystem and use-cases continue to expand beyond simple transfer-of-value, a fresh, differentiated name will help launch BITG into the next chapter of our development.
  • Bitcoin is inherently associated with proof-of-work consensus while a key focus of BITG is promoting proof-of-stake as an alternative. Removing the overhead of explaining that Bitcoin Green is proof-of-stake, unlike all other versions of Bitcoin, will allow us to more easily evangelize and communicate our mission.
  • Many Bitcoin forks or variants have been embroiled in controversy. Removing “Bitcoin” from the name will help eliminate association with these stereotypes and connotations.
  • We will still retain the BITG trading symbol, and many in the community already colloquially refer to ourselves as BITG or BitGreen. Formally changing the name aligns us with what is already common practice.

Besides changing the name and logo, a number of our social media handles will be changing as well. We will be updating this article in real-time to display the new links, as well as communicating these changes across our social channels.

Green Protocol Expansion

Along with our new name comes a refinement of the BITG ecosystem vision, which is to create a decentralized, eco-conscious platform for p2p payments, crowdfunding, and governance powered by the BitGreen Network and BITG cryptocurrency. To enable this, we will be adding 3 specific features to the Green Protocol:

1. Network Funding

An on-chain funding mechanism whereby anyone can submit a proposal to receive BITG-denominated funding for project developments, directly from the network, if they receive sufficient masternode votes. This functionality has been live for a number of months, and a new wallet tab has been added to streamline the voting process (detailed below).

2. Community Governance

A new feature allowing anyone to submit referendums to the network for masternodes to vote on. These community-votes are intended to be used for governance decisions, development decisions regarding significant protocol changes. It could also be used for resolving ecosystem- or community-level disputes in addition to other unforeseen use-cases.

3. P2P Crowdfunding

A feature for submitting funding proposals and accompanying information to the BITG blockchain, enabling anyone to solicit the community for p2p BITG funding. Masternodes can vote for or against proposals to rank them by their expected benefit to the BITG ecosystem. An example would be a charity soliciting the BITG community for charitable donations, directly on-chain, using a new interface in the BITG desktop wallet. Or perhaps community members fundraising for BITG-branded solar-powered staking rig or merchandise production. Masternode holders can vote up or down proposals Reddit-style, so the highest quality ideas are displayed most prominently at the top.

We will be releasing a more detailed article further expanding on these capabilities as well as a new wallet design rich in new features. Network Funding is now live, Community Governance will be added in the following weeks, and P2P Crowdfunding will take approximately 3 months.

Wallet Update and Network Funding

We are excited to announce a significant wallet update including a tab enabling Network Funding as described above, the groundwork for Community Governance, and a number of other improvements.

The wallet can be found at our updated Github:

https://github.com/bitgreen-official/bitgreen/releases/tag/v1.3.1

Key wallet and protocol updates include:

- Updated REST interface for transactions/blocks/headers/chaininfo and UTXOs
- Replaced the HTTP server with evhttp
- Upgraded code with c++11 improvements
- Updated documentation
- Removed unused dependencies and upgraded the build system
- Added Governance GUI
- Fixed block spam DoS
- Fixed community proposals
- Added RPC calls for masternode broadcast
- Fixed possible overwrite of wallet.dat during walletbackup
- Prepared REGTEST for future unit testing
- Show unconfirmed and immature balance on getwalletinfo
- Updated branding
- Minor code fixes and improvements

A guide explaining how to create proposals will be released shortly.

This wallet update is non-mandatory, but encouraged!


Please join our online communities: Twitter, Discord, Telegram, and Reddit

If you have any questions, please reach out to info@bitg.org!

(links above will be updated in real time)