Bither Presents an Entirely New Platform
Bither presents an entirely new platform based on a synthesis of several methods. By introducing the multi-mining feature and also optimizing hashing power consumption, Bither sets its goal to draw more computing power toward its network. Bither’s main network employs a new method to provide secure and impeccable records of transactions and computations.
Networks that are based on ‘Proof of Work’ (PoW) justify their constantly growing difficulty to attract more miners by making the claim that the increase of hashing power boosts network security and prevents possible attacks. This justification is correct in regard to the security challenges, but it does not convince the critics when it comes to the practical use of the computing power and also prevention of energy wastage. The Bither platform offers an innovative architecture in which a major part of the energy consumed by creating computing power is used for practical and beneficial purposes. So far, one might conclude that Bither is a network based on ‘Proof of Science’ or even ‘Proof of Stake’, but surprisingly, like Bitcoin and Ethereum, Bither is also a network completely based on ‘Proof of Work’
mechanism. Like these networks, Bither seeks to attract as many miners as possible to increase its hashing power. Bither works with PoW as its consensus algorithm through a different architecture compared to Bitcoin, Ethereum, and many other similar networks.
Bither’s innovation is in its calculation of network hash rate and automatic separation of hashing power by using masternodes that will be defined and implemented in high numbers through a hybrid
method. The necessary conditions for creating a Masternode are having a specific number of Bither coins and to be approved by both the community and the development team. Each Masternode’s information is compared to other Masternodes and there is automatic and precise supervision over the accuracy of the computations as well as of their orders. This is, however, an initial design and Bither founding team is planning to fund research and development teams to partake in the
implementation of more decentralized network governance.