So why do we need Bytether?
Why do we create Bytether?
“Why do you create Bytether?” is one of the most frequently asked questions. It seems that we didn’t make it clear the purpose of Bytether.
Let Ethereum network carry out transactions, BTH focus on making payment simpler and more secure!
Ethereum is good at handling transactions, but it’s not a good currency. Bitcoin is similar to gold, it is good for holding value but not good for making payment since Bitcoin has slow transaction speed and high transaction fee.
Bytether wants to be the future currency. By letting Ethereum network carry out transactions, BTH can focus on making payment simpler and more secure.
Have a look at our roadmap to understand more about our plan
Why do we choose to Cross-Fork Bitcoin?
We, the Bytether developers, like the design of Bitcoin as a currency and Ethereum as a blockchain very much so why not create a Bitcoin on Ethereum network.
What we are doing is more than just creating a bitcoin on Ethereum network. We are Cross-Fork Bitcoin onto Ethereum network, which means if you have X Bitcoin then you can claim X Bytether. Therefore, it benefits Bitcoin holders as well.
We want the community to choose the Cross-Fork block
We don’t want to make the cross-fork costly to the community. There is already Bitcoin Gold fork at block 491,407 (reached on 2017–10–24 01:20:39) and the coming Segwit2x at block 494,784 occur sometime in November of this year.
We want the community to choose the Cross-Fork block for Bytether. We may choose either Bitcoin Gold block or Segwit2x block as “snapshot” point. We also welcome suggestion on other blocks, please join our Slack and let us know what you think is good for Bytether.
Distribution Smart contracts are opened for public to review this Sunday, so hurry up, let us know what you think.
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