BitNautic Token (BTNT): What It Is and How it Works

Since it is easy to get lost among the many different names and acronyms of the cryptocurrencies, we have decided to write a guide to outline the different characteristics of coins and tokens.

In the environment of ICOs and cryptocurrencies in general, it is highly likely to encounter terminologies which most will probably find unfamiliar. One such example could be the word “token” and how does it differ from the word “coin”, to which we are most acquainted to.

In simple terms, the difference lies in their structural form: a token performs the function of representing any asset or utility while operating on top of a blockchain. Therefore, tokens ease the manner in which decentralized applications are created. On the other hand, coins or altcoins (alternative coins to Bitcoin) have their own separate blockchain. Clarified the difference, it is important to understand the role and function that the BitNautic Token performs.

BTNT is the abbreviated form of the name “BitNautic Token” which will be issued once the Initial Coin Offering (ICO) stage is fully completed, for a total amount of 50'000'000 tokens. BTNT is an ERC20 type of token, which means that its protocol is based on Ethereum, a technical and market standard, which defines an interface for smart contracts that need to execute token emission. The most crucial technical component of BTNT Tokens is the Ethereum Virtual Machine smart contract, which regulates token distribution, transactions, and rewards securely and transparently.

The token will act as a medium to facilitate transactions in the BitNautic Platform. Furthermore, it will provide several other advantages, including the following:

• It can be used across any number of jurisdictions, retaining a single uniform method of settlement;
• A blockchain based token makes it possible to perform settlements automatically and irrefutably by using smart contracts;
• It makes it possible to manage incentives in a way that drives the Ecosystem’s effects for the benefit of all participants in the BitNautic Platform.

Nature of the BitNautic Token

BTNT is a hybrid token in nature. A hybrid token has both the functions of a payment token, which essentially means that it can be exchanged for services instead of FIAT, and those of a utility token, which provides users with access to a service, in the case of BTNT the BitNautic Platform. In other terms, BTNT will facilitate efficient usage of a wide range of services on the BitNautic Platform, whilst also operating as a medium of exchange and a store of value that could become more valuable in line with the growth of users and increasing use of the platform.

BTNT Tokens will be used for the following purposes:

Subscription for the professional use of the BitNautic platform

• Price — Per user, per Year
• Compensated via Airdrop for the first 1’000 users

Fees for Cargo Booking & Ship Brokerage System

• Commission 2% Paid by Carrier on total price paid by Shipper
• Commission 1% Paid by Ship Owner on total price paid by Shipper

Subscription to Tracking System

• Price — per user, per year

Fees for Escrow Service

• Commission 1% Paid by Buyer or Seller on total transaction value

Fees for Wholesale E-Commerce platform

• Commission 2% Paid by Seller on total price paid by Buyer

Projected Value

With the Shipping Market standing at an astounding 8.1 TRILLION USD, of which more than 9 billions are lost each year due to the problems BitNautic solves, the potential value of this token is incredible. According to studies based on similar cases in other industries, the BTNT value is expected to rise by the 560% in the first two months, and reach 1180% of the original Token Price in the first quarter of 2019, with a single BTNT going from 1,35 $ to 16,03 $. Not bad huh?

You should now have a good overall understanding of the BTNT, what it’s used for and how it differs from the other cryptocurrencies. If you want to know more about it and the BitNautic project, please visit the BitNautic website.

Follow BitNautic news on:
Instagram
Facebook
Twitter
Linkedin
Reddit

Join our Telegram:

BitNautic official Telegram channel: Channel
BitNautic official #Telegram chat: Group