An Interview with Dylan/Dr.Crypto about Bitcoin Green
For those of you who are wondering what ‘Bitcoin Green’ is and what it has to do with sustainability, I have decided to conduct this interview. Enjoy reading and share on social media if you like it.
Good day Dylan / Dr. Crypto, everyone has his own story on how he/she got into blockchain technology. What’s yours?
I started with Bitcoin and cryptocurrency in 2016. I began as a trader, constantly active on Twitter, posting my trading strategies and ideas. From there, I began to learn all about cryptocurrency, including proof-of-stake and masternode mining. I started a consulting business to help other businesses learn about blockchain and create blockchain solutions. After advising several cryptocurrency projects and applications, I began to learn all about how to successfully launch a cryptocurrency project. When I learned about the benefits of proof-of-stake and the energy consumption of Bitcoin, the idea for Bitcoin Green came along very naturally.
What is your role at the Bitcoin Green ?
I am primarily in charge of communications, internal operations, content creation, and social media management.
Who is behind Bitcoin Green ? What are the Backgrounds of the team member ?
BITG has a founding team of 5–10 distributed members. It is a community run, decentralized project. The Co-Founders Dylan, Daoud, and Alec worked together to bring the initial idea to life and recruit the initial development team. Currently, Bitcoin Green leadership consists of 5–10 main team members as well as 15–20 community leaders.
How did the idea to develop Bitcoin Green come about ?
I began to read about Bitcoin’s energy consumption and relevant data from Digiconomist. I realized that Bitcoin consumes so much energy in a competitive way, and it’s not even required to control the network. At this time, I was already well informed about proof-of-stake. I realized that a proof-of-stake cryptocurrency ecosystem is far more efficient and consumes less power than a traditional proof-of-work system. A fork didn’t make sense for a completely new chain, so we decided that a community-based project with a fair launch was the only way to go.
What is Bitcoin Green ?
Bitcoin Green is two things: first and foremost, a campaign to raise awareness for sustainability issues arising from the proof-of-work consensus commonly used in public blockchain networks. Secondly, a cryptocurrency that is dramatically faster, cheaper, and more scalable than Bitcoin in its current form. Nearly all of Bitcoin’s limitations and problems, i.e. high network fees, slow transaction times, massive energy consumption, frequent hard-forks that destroy network effects, etc., all stem from the network’s outdated SHA-256 proof-of-work consensus algorithm. We solve these problems by using proof-of-stake with masternodes to secure the network, instead of proof-of-work.
Is Bitcoin Green a fork of Bitcoin ?
No, it was started as a brand new chain. It is meant to be an alternative to Bitcoin, not a fork.
What are the main use cases you are looking to cover?
Daily transactional use, base pair currency for proof-of-stake/masternodes, alternative store of value currency
What is the ‘Green Protocol’
Bitcoin Green provides a simple solution to Bitcoin’s scalability problems, and is the first sustainable Bitcoin. The Bitcoin Green team has designed a revolutionary new consensus mechanism called ‘The Green Protocol,’ an energy efficient, extremely fast proof-of-stake and masternode mining agreement to act as a sustainable replacement for Bitcoin’s current proof-of-work algorithm. Here’s how it works:
There are some buzz on social media about ‚BITGEX‘, what is it exactly ?
BITGEX is the proof-of-stake exchange. On BITGEX, your coin balances will automatically be used for staking and masternodes. This means you will be able to earn rewards through the automated system, without any wallet downloads or configuration. BITGEX is an exchange created by a third party development team. They have decided to use the Bitcoin Green cryptocurrency as the base of the application.
Which part will BITG have in the eco system of BITGEX ?
BITG will operate as the base pair currency for BITGEX exchange. That means all pairs will be priced in BITG. This will bring major volume to BITG, as well as add many new trading pairs. The goal of this platform is to make Bitcoin Green the standard base-pair currency for proof-of-stake and masternode coins.
Thinking about the future, do you have any roadmap with relevant upgrades or partnerships?
You can always see the roadmap on our website. It is constantly updated. Furthermore, you should read our Medium blog and weekly progress reports to see what we are focused on.
Any plans for exchanges?
We are truly focused on BITGEX for now. However, we never stop applying for large exchanges. If you have any connections to large exchanges, please contact us!
How much funds do the core team has in budget for development and marketing?
We have a team fund of BITG, as well as an active governance protocol for funding operations and marketing. We are quite well funded. Despite the bear market, we are not like many of the failed ICOs which no longer have funding. We’ve done a good job hedging to secure funds to operate.
Thank you for your time. If you enjoyed the read feel free to follow me on Twitter.
PS: I did not get paid for it to make this interview.
