1. Assigning Credit Where it’s Due

This minting explanation has been forked from Peercoin’s Peer University Section 9. titled Peercoin & Proof of Stake Consensus. Which can be found here: https://university.peercoin.net/#/9-peercoin-proof-of-stake-consensus

We chose to fork Peercoin because the codebase is very robust and we believe they have created the only long term, sustainably fair method of staking cryptocurreny. As we did not change the staking methods from original codebase there is no need for us to reinvent the wheel as their guide to staking is already been completed. Proof-of-stake is an alternative consensus protocol that was invented by Sunny King and Scott Nadal and first implemented in Peercoin in 2012. In a proof-of-stake based blockchain, coin owners are the ones who wield influence over the network, produce new blocks and secure the chain. Stakeholders of Peercoin effectively co-own the blockchain network, similar to how shareholders co-own a publicly traded corporation.

2. Time as an Alternative Scarce Resource

In the Bitcoin Air blockchain, the process of validating new transactions and blocks works exactly the same as Peercoin’s. Block producers in XBA are called minters rather than miners. In place of electricity, Bitcoin Air emulates proof-of-work competition in its protocol by using time as an alternative limited resource. In order to select the minter that produces the next block, Bitcoin Air’s protocol relies on a concept called coin age.

Coin age is a number that is derived from multiplying the amount of coins a minter owns by the number of days those coins have been held in their wallet. A minter who has a high coin age for example has both a high number of coins in their wallet and those coins have also been sitting in that wallet for quite a long period of time.

Bitcoin Air’s protocol combines some amount of randomization with coin age in order to automatically select the next person who mints a block. A minter with a high coin age has a higher probability of minting the next block over a minter with a low coin age. There are no computationally difficult problems for minters to solve in Bitcoin Air’s protocol. A minter’s chances of being selected as the next block producer rely specifically on the number of coins held, time in the form of coin age and some amount of luck.

3. Time Based Rules & Restrictions

There are a number of rules coded into the protocol to keep minters with a high coin age from being able to dominate the process of minting new blocks. Minters are first required to hold coins in their wallet for a total of 30 days before they can become eligible to compete in the process of minting new blocks.

Once a new block is minted, a transaction is automatically generated where the participating coins that were used to mint that block are sent back to the minter. Basically minters automatically send the coins being held back to themselves. This automated transaction back to the minter of the new block causes the age of the coins to be reset. It is an automatic and forced transaction to move the coins that were used to produce a block, which resets the number of days that those coins have been held back to zero.

The minter then needs to start from scratch and wait another 30 days in order to be eligible to participate in the minting process again. This helps avoid a situation in which a minter is able to consistently produce blocks one after the other over and over again. The mandatory coin age reset institutes a 30 day wait time which gives other stakeholders a better chance of minting blocks.

A third rule also states that a minter’s probability of finding a new block reaches its maximum after 90 days. So after this period of time a minter’s stake reaches maturity and their chances of minting a new block are maxed out. All of these rules are put in place in order to prevent minters with high coin age from being able to hold a monopoly on the block generation process.

4. Majority Attacks are Cost Prohibitive

The process of proving your stake produces new blocks and secures the network against malicious attacks. The proof-of-stake protocol also makes Bitcoin Air much less susceptible to a double spend attack. For example, a potential attacker would need to own a majority of the total coin age of all coins participating in the minting process. Given that most coins are in personal wallets and not trading on exchanges, it would require a considerable investment in order to pull off such an attack.

A malicious actor would need to purchase enough coins from the market in order to try mounting an attack against the network. Attempting this vast purchase would cause demand to spike and the price per XBA to skyrocket. Any attempt to acquire the amount of coins necessary to perform a successful attack would likely bankrupt the attacker in the process.

The only thing they would succeed at is driving the price of Bitcoin Air out of the range of affordability. The attacker would likely run out of funds long before being able to complete their total purchase. Attempting to purchase more than half of minting coins in circulation is also likely more costly than attempting to acquire a majority of the hashing power that exists in proof-of-work blockchains.

Attackers are Financially Tied to the Network

If by some miracle a successful attack was able to be performed, an attacker would only end up harming themselves in the process. In order to pull off an attack they would need to make a significant investment in Bitcoin Air. A successful attack however would end up damaging the price of Bitcoin Air and along with it the attacker’s original investment in the coins they used for the attack.

Further, any attempt by the double spender to cash out such a massive number of coins after a successful attack would only end up crashing the market price, which would also harm the attacker’s original investment. If the ultimate goal of a double spend attack is earning money then it should be considered counterproductive as the attacker would likely end up losing more funds as a result of the drop in value of the coins they purchased than they could ever hope to gain from a successful attack.

With proof-of-work consensus on the other hand there is no requirement to hold bitcoin in order to pull off a successful attack. All that is required is a majority of hashing power. With Bitcoin Air however, the attacker is financially tied to the network they are initiating an attack against through the coins they purchase.

As such, an attack of this nature would likely not be profitable and is best avoided completely. The only way an attack like this would make sense is if the goal of the attacker was to destroy trust in the network itself rather than use it to earn money. The attacker would need to be completely willing to risk losing their total financial investment in the network in order to achieve their desired result.

2. Efficient & Sustainable Security

Earlier we learned that mining power in Bitcoin centralizes over time. This occurs because it’s possible for proof-of-work to be gamed in such a way that a miner can achieve an advantage over their competition. All miners have to do to increase their chances of earning rewards is to figure out how to be faster than everyone else. Over time this drive to be faster has led to the creation of the mining industry and specialized equipment. These developments have caused the cost of entry to skyrocket in price to the point of being unaffordable for normal users.

Due to the fact that a large miner will always be able to process more hashes per second, they will always have a higher probability of mining a block than a small miner. It is possible for a small miner to solve a block, but their odds of doing so are extremely miniscule to the point that they could mine consistently for many years before being able to find one.

Unfortunately, not many people can afford to waste money on electricity costs for years on end for such tiny odds of mining a block. Electricity bills have to be paid in the meantime and that length of time to wait in between rewards is just too great without being paid. Once regular rewards are no longer possible they are likely to just quit mining altogether, leaving a shrinking number of larger miners to compete amongst themselves.

Proof-of-stake in Bitcoin Air however, is not capable of being gamed in the same way. Since proof-of-stake does not rely on hashing power in order to achieve consensus, no specialized equipment can be designed in order to increase the chances of minting a block. Faster processing speeds therefore have absolutely no effect on the probability of producing new blocks with Bitcoin Air.

The consensus rules of Bitcoin Air are completely different and minters must work within the confines of these protocol rules in order to be able to produce blocks. Because rules about hashing power are replaced with time based rules, it is no longer necessary to purchase expensive equipment in order to give yourself an advantage over others.

Proof-of-stake minting itself is an efficient process that is capable of being performed on any lightweight CPU based device, from phones and tablets to basic desktop and laptop computers. Bitcoin Air can easily be minted using a node on an inexpensive Raspberry Pi. Due to the nature of proof-of-stake’s time based consensus rules, it is extremely low-cost to operate a full minting node and the overall blockchain requires very little energy to secure.

Qualities of Proof-of-Stake Consensus

Due to these innovations, Bitcoin Air joins Peercoin as the only truly efficient and sustainable public blockchain technologies. As a result, proof-of-stake consensus impacts the Bitcoin Air blockchain in a number of beneficial ways.

Efficient & Sustainable: Proof-of-stake in Bitcoin Air is efficient because network security is not dependent on wasting massive amounts of electrical energy. Instead minters invest in coins and time in order to emulate the proof-of-work process. This is done by simply opening their wallet app, sending coins to their Bitcoin Air address then letting them sit while they are occasionally selected by the protocol to mint the next block. This process is both energy and cost efficient, which makes Bitcoin Air a long-term sustainable network capable of operating indefinitely.

Aligning Interests: Because coin owners are the ones who produce new blocks in proof-of-stake, this means security providers and users of the network are ultimately the same group of people. So rather than miners and users being out of alignment like in proof-of-work based networks, minters and users in Bitcoin Air are the same exact people which means interests are completely aligned. All security providers are forced to own a stake in the network through ownership of Bitcoin Air. This causes everyone to have a similar financial interest in the long-term future of the network, which leads to much less conflict between factions with different ideas about how the blockchain should develop and evolve.

User Governance: Because users in Peercoin have the ability to produce blocks, they also have the power to influence and determine the future direction of the network. This user governance is only possible because proof-of-stake grants power over the network to stakeholders. As such, Bitcoin Air is the second blockchain capable of allowing its protocol rules to be governed directly by its users, making for a network that is far more democratic.

Global Security: As a direct consequence of a resource efficient consensus mechanism, the number of people capable of participating in creating blocks and securing the network is much expanded. Security providers are no longer drawn to geographical locations with cheap electricity. Due to how cost efficient proof-of-stake is to operate a node, minting nodes can be setup anywhere in the world. This allows Bitcoin Air to maximize its level of decentralization and achieve global security from minting users all around the world.

Price Independent Security: Unlike proof-of-work where miners are completely dependent on the market price of a blockchain’s native token to ensure profitability, Bitcoin Air contains no such price dependency. Proof-of-stake minters are compensated as motivation to provide consistent security, however since this process is so inexpensive to perform minters actually have the ability to voluntarily operate a minting node without compensation if they want to.

Even without compensation from the network, the process of minting helps to secure the blockchain and along with it a stakeholder’s overall investment. The ability to decide which version of the protocol to run also gives a minter the opportunity to make their voice heard concerning future upgrades to the network. These are two important reasons a stakeholder may have to want to run a node for free, however compensation is automatically provided which makes it even better to participate. Voluntarily running a proof-of-work mining node is just not possible due to the requirement of being profitable enough in order to afford the associated costs of participating.

Since 2012 though it has been proven that Peercoin is capable of sustaining its network security even during the lowest periods of demand where market price was close to zero. If Peercoin is capable of surviving extremely stressful conditions like these then it can likely survive anything the market throws at it. There is a good reason why Peercoin has been called the nuclear bomb shelter of crypto. It is highly capable of withstanding almost any scenario. Peercoin was the obvious protocol to build a long term sustainable blockchain on and to deploy internal stable sidechains with for the Bitcoin Air protocol.

Higher Resistance to Censorship

As explained above, the efficiency of proof-of-stake results in a blockchain network that can easily be secured by people all over the world who hold some amount of Bitcoin Air. This global decentralized security makes the Bitcoin Air network more difficult to censor or shutdown the larger it grows. It is similar to downloading files through a bittorrent network.

In a bittorrent network, many people around the world operate nodes where they hold a full copy of the file that is trying to be downloaded. Pieces of the file are downloaded from different nodes until the full file has finished downloading. If a government were to deem this file sharing illegal and attempt to shut down the torrent network, they would be forced to target every single node on the network no matter where they happen to exist in the world. Even then, there is nothing stopping more torrent nodes from popping up that share the exact same file. As long as one node exists that shares the file, it can be downloaded and spread to others.

A government’s reach extends only as far as its own borders, therefore in order to target nodes halfway across the world they would need to rely on cooperation from other governments which is not always easy to attain. Due to the inability to easily target nodes offering a file for download, it is incredibly difficult for governments or other entities around the world to shut down file sharing torrent networks.

Bitcoin Air works in a similar way where minting nodes that process transactions can be operated from anywhere in the world as long as the minter has access to a computer, minimal electricity, some amount of Bitcoin Air and an internet connection. Geographical decentralization of minting nodes makes it incredibly difficult to shut down the Bitcoin Air network, but when the number of nodes around the world expands to thousands or even tens of thousands then it essentially becomes impossible to censor.

Reduced Incentive for Minters to Centralize

Proof-of-stake minters in Bitcoin Air are compensated with block rewards that are automatically generated by the network, similar to Bitcoin. Users who engage in the proof-of-stake minting process earn an annual total of about 1% on their holdings every year. This interest on the stake they hold comes to them throughout the year as blocks are produced and not all at the same time.

For example, a user who is minting with 10,000 coins in their wallet would receive many block rewards throughout the year that end up totaling about 100 peercoins. 100 coins is the 1% annual interest that was earned on the 10,000 coins that were held in that minter’s wallet throughout the year.

There is a criticism that exists in the crypto community about proof-of-stake that states the rich get richer. Recall that in Bitcoin a large miner can essentially game the entire system and achieve an advantage over everyone else by using mining equipment with faster computer processing ability. This rich get richer argument against proof-of-stake basically states the same exact thing, except that minters with large stakes can achieve an advantage over minters with small stakes.

The argument states that large minters with lots of coins in their wallet are able to gain higher amounts of coin age, which gives them an advantage over all other proof-of-stake minters. This increased advantage allows them to mint more blocks and gain more rewards than everyone else participating in the network.

Over time this allows the rich stakeholders in the network to collect more rewards and become even richer to the disadvantage of all other participants. New coins will increasingly get rewarded to rich stakeholders and eventually the majority of power in the network will centralize to those rich stakeholders.

Although this scenario is true of nearly all other proof of stake protocols it is not true while regarding proof of stake in Peercoin and Bitcoin Air. When the entire money supply grows due to the new coins coming from the minting process, all Bitcoin Air holders who participate in minting can maintain their relative share of the network. Although large stakeholders do generate a higher total number of blocks and Bitcoin Air rewards than small stakeholders, they cannot, in percentage terms, pull ahead of other minters.

For example, let’s say the entire Bitcoin Air supply is 100,000 coins. A small minter who owns 1% of the supply owns 1,000 coins. A large minter who owns 10% of the supply owns 10,000 coins. After a full year of consistent minting, the small minter would own about 1,010 coins while the large minter would own 10,100 coins.

While the large minter technically did mint more blocks and 100 coins while the small minter earned only 10 coins, their overall ownership of the supply in percentage terms did not change. The small minter still owns 1% of the supply and the large minter still owns 10%. Even though the large minter was able to earn more overall coins, they were not able to increase their percentage of ownership over that of the small minter. The rich stakeholder therefore did not become any richer than they were before the minting process started. Both minters ended up maintaining their relative share of the network without any change.

In this way proof-of-stake consensus can be used to secure the Bitcoin Air blockchain without providing an incentive for minters to centralize over time. As long as a minter participates in the proof-of-stake minting process then they will receive the rewards they deserve. If they don’t participate in minting however then those potential rewards will be forfeited.

Minting Pools

One issue is that it does take small minters much longer to mint blocks. Depending on how few Bitcoin Air they are minting with, it’s possible it could take over a year to successfully mint a block. The fewer coins they have sitting in their wallet, the lower the overall coin age is that they will be able to build up and the lower their odds of being selected as the next block producer.

However, unlike proof-of-work where it is pretty much impossible to mine consistently for years on end without earning money to pay the electricity bills, minting with proof-of-stake is such an inexpensive process that a minting node can operate for years without earning a reward.

Another potential issue is that at 2 minutes per block, there may not be enough blocks produced per year for every user in the network to be able to earn their annual interest. This is another reason why it may take longer than a year for some to successfully mint a block. However both of these issues can be solved by introducing minting pools.

Minting pools are very similar to mining pools. With mining pools miners share their hashing power with a pool and when a block is found they are partially rewarded based on the proportion of hashing power that they contributed to finding that block. With minting pools however, minters pool their coin age. By pooling together with other small stakeholders, they can earn more regular rewards than what they could if they minted alone by themselves. In a minting pool, when a block is found minters would be partially rewarded based on the proportion of coin age they contributed to finding that block.

It was explained earlier that mining pools had a large part in further centralizing Bitcoin, however it is unlikely that minting pools on Peercoin would cause such a drastic turn toward centralization. In Bitcoin small miners who don’t join pools basically have no chance at all of mining a block. In Peercoin however a small minter can still mint a block. It’s just that doing so by themselves may take quite a while. Minting pools just provide for an opportunity to earn rewards more regularly without the requirement of waiting so long.

We’re pleased to announce our first staking pool service partner is now live at https://simplepospool.com/.

Despite the harsh “crypto-winter” and some early bugs pushing back our timelines by a few weeks; We are pleased to announce that the secure claim link is now open!

For those of you who are new, Bitcoin Air (XBA) is a bilateral dual-chain Bitcoin/Peercoin revision airdropping to both Bitcoin (BTC) and Peercoin (PPC). We are producing a multi-currency stable coin platform that can allow for many of the current issues related to Stable Coins to be solved in a one-stop fashion.

XBA is a SHA-256 Hybrid PoW/PoS blockchain capable of deploying blockchain agnostic side-chains that can be isolated from the main chain, but easily interacted with.(Thanks to PeerAssets being deployed in v0.7 of Peercoin’s Source Code)

If you held Bitcoin at block 551,200, you now own 1 XBA for every 1 BTC you held during the balance snapshot.

If you held Peercoin at block 403,400, you now own 1 XBA for every 20 PPC you held during the balance snapshot.

To claim your available XBA, simply navigate to our website (https://bitcoinair.org/) and click the “Claim Your Bitcoin Air” button. You will then be redirected to the appropriate page to claim your holdings.

Before continuing with the claim tutorial, we’d like to give a special thanks to our development team for all the hard work. We have one of the most dedicated development teams in the industry; they were even pushing updates on Christmas Day to ensure we made it to New Years release as soon as we possibly could.

Without a doubt their dedication to correcting any bugs with haste has allowed us to achieve every goal on our roadmap to this point. We couldn’t have done it without you!

Now back to our tutorial, here is a short video walk-through on how to claim your XBA after you have figured how to sign a message in your Bitcoin or Peercoin Wallets:

The above steps both go for Peercoin and Bitcoin Holders. You would simply sign the Secret Key using your wallet, and paste the appropriate signature where requested. The script will verify your balance and allow you to enter your personal XBA Address to claim your holdings. (Wallets are available for Desktop Download [MacOSx/Windows/Linux], and web use on; AirWire, Kalkulus HUB, and Magnum Wallet.)

If you are having trouble with claiming your Bitcoin Air, please feel free to drop in to our Discord Server here (https://discord.gg/AYTWfT3) or our Telegram Channel (https://t.me/BitcoinAirENG) and someone will be available to assist you. If you are not a user of Discord or Telegram, you can forward an email to support@bitcoinair.org, and we will respond as quickly as possible!

As always, we appreciate your support and stay tuned for the release of our Q1 2019 Roadmap which will highlight many of the upcoming technical additions to our blockchain, and when they should be expected!

We wish you a Happy New Years and a prosperous 2019!
- The Bitcoin Air Team

Welcome Bitcoin Air Community,

We are currently only 21 days away from our snapshot date, (November 22nd, 2018). For starters, we’d like to thank those of you who have been with us from the beginning for all your contributions towards helping the community grow. Without the support of the community all of our efforts would be in vain. Secondly, we’d like to welcome all newcomers to the Bitcoin Air project. We have been hard at work building our private testnets, establishing key partnerships that will spur our growth and adoption, as well as working on the tablet, desktop and mobile applications. As every good project should, we will focus the bulk of our efforts on developing solid tech before we “shill” our project to the masses.

With that being said, there are a few topics we’d like to officially cover before the snapshot. The first being what are the distribution ratios of XAP for Bitcoin and Peercoin holders?

Distribution Ratios

The exact block from which the snapshot will be taken on November 22nd will be announced closer to the snapshot date. We have an estimate based on current mining rates but there is no point in releasing the block until it is certain. As you can see in the diagram above; Bitcoin (BTC) holders will receive 1 XAP for every 1 BTC they hold at the time of the snapshot. Peercoin (PPC) holders will receive 1 XAP for every 20 PPC they hold at the time of the snapshot. A list of exchanges and wallets that support the airdrop will be posted before November 22nd for those who would prefer to keep their coins on an exchange or wallet service.

Secure Airdrop Claim (No Private Keys Required)

For those of you who weren’t present when it was discussed in the chats, you will NOT require you to use your private keys to claim your Bitcoin Air.

Any address that held Bitcoin or Peercoin at the time of the fork, will be able to claim Bitcoin Air simply by signing a message with their wallet. This was done both for security and so Peercoin holders would not be required to move their PPC as staking age is important for them.

Our Blockchain will also be extremely light to begin with, since we are not handling this fork via importing and merging the UTXO. Instead, the entire supply is being mined in the genesis block and then our difficulty will be adjusted to fit in par with the current supply. The Blockchain will then be security audited and released publicly to be reviewed by any developers who would like to do so. This will also open the network for miners to begin getting in early and aid in dispersing the Airdrop to the addresses that begin to claim Bitcoin Air by signing a security token provided to match the Public Key holding Bitcoin at the time of the Snapshot. Once you guys sign the message and place the signed message in our claim script, it will allow you to claim the allocated amount of XAP to your XAP Wallet.

In previous forks, you would have to risk security, and move Bitcoin out of your wallet and then provide this private key. We are removing this risk for our users, and also making it easier for exchanges to adopt a secure form of claiming Bitcoin Air. Instead of exchanges needing to provide their private keys to claim XAP, they will simply sign a message with their hot wallet and disperse it as necessary within their central database.

We will give every exchange and person a year to claim their XAP, afterwards we will burn the remaining unclaimed supply for our 1 year release anniversary on December 22nd, 2019.

Free for All Airdrop

If you were an early member you may have noticed or commented on the change in distribution ratio for Peercoin holders. Essentially we are implementing “whale protection” on the initial supply of XAP. It will now be prohibitively expensive for one individual or a group of people to acquire enough PPC to obtain controlling interest in the network. Additionally this allowed us to establish a “community fund” that will be used to stimulate community growth and directly reward community/network participation. The Free-For-All bounty will be handled via our custom Rain Bot, that will rain free XAP directly to active members in our Discord chat. This will give all new comers a chance to gain XAP even if they couldn’t afford it at the time. Or didn’t hear about the fork announcement. We want our distribution to be broad and cover as many people as possible. Although Bitcoin Holders will receive majority of the airdrop, everyone will have a chance to get a bit of XAP for simply being active in our community, voting, and helping out where needed.

As always, feel free to bring up any questions concerns or just drop by to say hello and see how things are going.

Thanks for your support,

The Bitcoin Air Team

Earth Dollar forms alliance with Bitcoin Air to launch a series of Asset-Backed Bitcoin Hard Forks

October 16, 2018, Las Vegas, Nevada — A series of asset-backed Bitcoin hard forks with intrinsic value is being launched to complement stable coins such as Tether, Gemini Dollar and Bakkt.

Critics of cryptocurrencies have often pointed out that Bitcoin is not backed by anything, other than the faith of the people who buy and use it… much like fiat currency in today’s world. That is about to change with a series of asset-backed Bitcoins.

Earth Dollar (anticipated to be one of the world’s largest asset backed currencies) has formed an alliance with Bitcoin Air to launch a series of high-speed and asset-backed Bitcoin Forks beginning with Bitcoin Air and Bitcoin Earth, with several more to follow. All of the Bitcoin Hard Forks are geared to tackle environmental restoration projects for Mother Earth, while tackling key issues pertaining to the usability, scalability, volatility, and tangibility functions of cryptocurrency.

The U.S. Blockchain Association plans to list Bitcoin Air, Bitcoin Earth and Earth Dollar, on its upcoming 50,000 ATMs and point-of-sales terminals to be deployed across the USA.

About Bitcoin Air

Bitcoin Air will be the first dual-chain bilaterally operating Blockchain. By forking the UTXO and base of Bitcoin, and merging it with the Hybrid PoS/PoW capabilities of Peercoin, we produce a dual-chain Blockchain with one end accessible to exchanges, trading, and sending, while the other chain is internal, and backed by Carbon Credit Assets for each $1 of value maintained.

Bitcoin Air removes the need for exchanges that lack user-friendliness, and creates a perfect exchange between measure of our technology, and the stable backing we have to bring a fully asset-backed stable coin. Bitcoin Air integrates an advanced “swap and spend” feature that allows the burning and minting of new coins between the stable and volatile chain pair. Bitcoin Air uses a Dynamic Proof-of-Stake protocol to make the coin more environmentally friendly and offering a higher transaction speed than Bitcoin Core upon it’s permanent switch to PoS!

The founder of Bitcoin Air, Anthony Colón Jr., who is an avid Cryptocurrency Advocate of 7 years says, “The key issues with cryptocurrency are problems we are all aware to, but are keen to ignore. My hope with Bitcoin Air is that through large-scale adoption we can provide a means of reducing emissions through indirect actions like paying your rent or shopping for groceries. With Air Cash and Earth Dollar, the adoption of our blockchain pair allows for simplicity of use for businesses and consumers, while giving consumers the familiarity of fiat payment systems …”

About Bitcoin Earth

Bitcoin Earth will be created by combining the blockchains of Bitcoin Air (including Bitcoin Core) and Ethereum. Each Bitcoin Earth will be backed by hemp products, and metals in the form of tokenized futures contracts, with an initial value 10 CHF (approximately $10 USD). Bitcoin Earth which is part of the Earth Dollar system is the world’s first anti-inflationary stable coin tied to buying power. The assets backing Bitcoin Earth will increase at an exponential growth rate of 2.718% per year representing the Natural Log of e (logex) in the form of a S-Curve. This rate of increase follows closely with the USA inflation rate thus making Bitcoin Earth inflation resistant. Bitcoin Earth will be directly exchangeable for thousands of derivative products at selected distributors, including for example CBD products, medicines, food, paper, clothing, hempcrete, and more.

Bitcoin Earth will support the SDG Crypto Fund, a Sovereign Wealth Superfund focus on land restoration projects. For example, hemp paper is a great replacement for protecting the forests from being clear cut to make toilet paper. In fact hemp produces 10 times more pulp than trees and is renewable.

David Kam, Chairman and CEO of the Earth Dollar says, “Bitcoin Earth allows Bitcoin and Ethereum users to be able to play with the Earth Dollar in the same wallet. More wealth, prosperity and abundance can be generate as more members join the Living Economic System. This benefits everyone. Imagine a world in which people are rewarded for saving the bees, saving the forests, helping the poor, supporting charities, cleaning up fresh water sources and other positive social activities”

About Earth Dollar

The Earth DollarTM is expected to be one of the world’s largest asset-backed cryptocurrencies with intrinsic value. The Earth Dollar is part of a new sustainable decentralized “Living Economic System” centered on the preservation of natural resources of Planet Earth and revitalizing global economies. Mother Earth Trust will be co-stewarding the preservation of natural resources. The Earth DollarTM plans to develop a high-speed and scalable Quantum-Secured Blockchain 3.0 platform to allow nations and asset owners to monetize their dormant, unused, underused and new assets, including their natural capital assets via smart contracts and smart insurance. The Earth Dollar also plans to deploy a new type of quantum-secure worldwide mesh network to protect its blockchain for its upcoming alternative “Living Economic System” through strategic partnerships. The partnership will provide tools to help institutions, banks, governments and organizations, interface with its secure Earth Dollar blockchain. The Earth Dollar is expected to be conducting its first token sale with the date to be announced soon.

Contact:

Bitcoin Air Contact Information:
Website: https://BitcoinAir.org — Anthony Colón Jr., anthony@bitcoinair.org Telegram:@BitcoinAirENG

The Earth Dollar Contact Information:
Website: https://EarthDollar.org; Alisha M. Forrester Scott, PR@EarthDollar.org Telephone: +1 (702) 850–3768

Plenty has been happening in the background while the development team and administration have been readying the front line approach to the market for Bitcoin Air. We have kept our community quiet and our development even quieter while we put together our many programs we plan to offer to the public prior to our actual fork date. It has been a great time so far developing with the team, and we can not thank our community enough for being with us in the early stages of Bitcoin Air.

This article will be presented to cover several topics that have been floating in the community, and to introduce the latest updates within our development. The community has been anxiously awaiting the biggest decisions within our development, included the finalization on which coins will receive our airdrop. We are here to announce several things including; our Ambassadors Program, our Minimum Viable Product Demo, our new Website, our introductory Partnerships, and the final decision on which coins will receive our Airdrop.

Let’s Begin…

A New Beginning

We have taken the time to revise our overall approach to the public by introducing a completely revised website design to better signify what Bitcoin Air hopes to represent to the public. You will find numerous changes to our website including; a completely custom design template, expanded information that includes our team, media, and partnerships, our ambassadors program, and also our minimum viable product demo. This refreshed approach will aid in the presentation of Bitcoin Air and better express the ideas of what we hope to achieve with Bitcoin Air.

Throughout the time of our revision, there has been some bumps in the road with our community, team, and overall plan for development. This is normal within any community focused development and we have taken the best approach to solve any issues that have arose within our community. Some of the issues I want to touch on today revolve around Haven Protocol and the overall vision of our development along with what differs us in whole, and how we plan to revolutionize the stable coin initiative.

There has been some discussions coming from the Haven Protocol team in regards to our fork and their outlook on receiving it. Mixed emotions have held the team in a discussion as to whether or not Haven Protocol should be included in the air drop due to the communities mixed feelings about the development. This has led to our development team placing a hold on whether or not Haven Protocol will actually receive the airdrop and whether they will receive XAP or USDAP.

Our Project Lead, Anthony, has been in constant discussion with both Peercoin and Haven Protocol alike in regards to gathering solid support across administrations to ensure that all communications and development needs are met up to a reasonable extent to create a clear channel for updates, development, and communication. Through this, we have agreed that only two communities should receive Bitcoin Air ($XAP). Peercoin and Bitcoin holders will receive Bitcoin Air at a spread rate which will be described below in the Official Fork Details.

Over this long silence from our team, we have been solidifying several large scale partnerships that will be explained below in “The Future of Bitcoin Air”. This article also signifies the beginning of our Blockchain Development, and over the next few days, you will begin to see commits to our GitHub. Currently, it has been left empty until our main front end products and partnerships were completed. This is falling perfectly in line with our predicted road map and we appreciate the community for staying patient with us over this time.

The Bitcoin Air Ambassadors Program

The Bitcoin Air Ambassadors Program has been developed as a means of providing 100 lucky participants with the chance to permanently earn a position as an Ambassador within their country and aid in the constant growth and outreach of Bitcoin Air on a large scale level. The main goal is to allow us to produce as many points of contact for our development as possible, in as many countries as we possibly can.

Our Ambassadors will be in charge of social network outreach, planning and organizing of community events, BETA Testing and Functionality, marketing and promotion efforts, and much more. They will be our front line team when it comes to countries reaching out to Bitcoin Air on a personable level. Ambassadors will play the largest role in ensuring that Bitcoin Air achieves it’s maximum potential in achieving it’s goal of producing a currency that provides back to the environmental efforts of maintaining our planet and personal well-being.

Ambassadors will be trained and briefed on the dynamics of Bitcoin Air and it’s functionality, they must be capable of a professional attitude, demeanor, and presentation when it comes to representing Bitcoin Air and it’s team alike. Every chosen participant will have the chance to earn Bitcoin Air (XAP) on a monthly basis via conversion based marketing and promotion utilizing their social networks and events that may be happening in their area; like seminars. Ambassadors who are hired will be provided access to our Ambassadors Panel that will give them access to a variety of content to market with, social network API’s to easily share and promote Bitcoin Air, a place for event planning requests to be filed, personal conversion links to maintain records of who brings the most attention to Bitcoin Air, and a internal payout system that rewards the top Ambassadors with the most conversion. Bitcoin Air Administration will dedicate funding monthly to a pool that will be split completely between 100 Ambassadors proportionate to their share of the growth margin during the month prior.

The Ambassadors Program will begin with an application process that will allow us to gauge the communities interest over time leading up to the fork date. A series of interviews will be given to the chosen participants to gauge their ability to grow Bitcoin Air and utilize the resources provided in an efficient manner. All members of our community are encouraged to apply and see if they are chosen to become one of the 100 ambassadors chosen world wide to aid in the growth of Bitcoin Air.

The applications will be announced in the next upcoming article. The application process will allow only non-anonymous participants as we would like our Ambassadors to be friendly and welcoming to the public to approach them to gain information about Bitcoin Air. We will ask a series of question via form, and over time will begin to reach out to capable applicants to receive a second interview. The 100 chosen participants will then receive escalated privileges to the Ambassadors Panel and will be trained and briefed leading up to the Bitcoin Air Snapshot and Fork.

Applications will begin August 21st, 2018.

Minimum Viable Product Demonstration

A lot of you may see, that we have been operating our development some what like an ICO. Hiring in different Advisors and types of staff to ensure a successful road map is followed throughout the development. To ensure that the public understands what we are hoping to achieve here in the slightest, Bitcoin Air has made efforts to develop a Minimum Viable Product Demo that will allow you all to test the waters of what is to come for Bitcoin Air over the next few months.

This minimum viable product demo will feature a simple to use App Store Demo that will give you a hands on feel of how Bitcoin Air will operate when it is released. This is in no way our final product template, nor will our demo be utilized as a our main feature set. We will be expanding on this MVP drastically as we receive input on how people react to the usage and feel of our demonstration.

You can utilize our demonstration via a tablet, mobile, or desktop interface. It will display the basic features that are to come to the Bitcoin Air Pay System that will allow several key features to fluid merchant transactions and consumer usage. The idea behind the MVP is to provide a hands on template of use for people to gather what is to come before deciding to support Bitcoin Air in it’s endeavors to becoming the largest small business based consumer stable coin.

All comments, edits, and recommendations can be submitted to mvp@bitcoinair.net. Anybody submitting revisions or edits will be provided a bounty if we use their edits.

The Future of Bitcoin Air

Throughout the constant development going on, there has been extensive brand growth that has blossomed the final and true vision of Bitcoin Air. Initially beginning as an initiative to create the first collateral backed dual-chain stable coin that can give back to the planet through merchant-consumer based usage. This vision has blossomed into large scale partnerships that will aid in creating the most versatile and scalable merchant based payment system to come from a cryptocurrency development.

Bitcoin Air has reached an agreement with the US Blockchain Association to acquire $210,000,000 in Carbon Credit Asset Reserves to back the minting and burning of USD Air Protocol. This means that every $1 of USDAP (1 USDAP) will be backed by $1 of Carbon Credit Assets. Coupled with this asset backing, Bitcoin Air will be included in the future release of 50,000+ ATM’s worldwide being developed by the US Blockchain Association that will allow users to sell their $USDAP or $XAP and receive local fiat currency at anytime. This will allow Bitcoin Air to be fully asset backed up to $210,000,000 in carbon credit reserves at any given time through the partnership with the Mother Earth Foundation.

What we hope to come from this partnership, is to produce a positive impact on the environment through financial transactions by allocating mint/burn fees to the growth and preservation of the Carbon Credit Reserves. Through this growth, the available asset backing of $210,000,000 will expand, allowing more collateral to be available to back USDAP as more users require to mint into a stable coin market. Carbon Credit Assets grow and drop in value as well; as the value of the reserves grow, profit margins can begin to be taken from the Assets and given back to the holders in forms of buy backs or raised stake earnings for an extended amount of time. Proceeds kept can be used to produce green air initiatives and fund scientific studies to develop means to reduce the carbon footprint of humans on the planet. The end result would be a positive impact on the Earth, through basic means of every day use by merchants and consumers alike.

The future vision of Bitcoin Air is to decentralize the small business market and return the power of the fiat, reserves, and financial system back to the people of commerce and trade. Through the use of a dually operating bilateral blockchain, we hope to bring the age of asset backed stable coins to a new level by pairing the power of dual chains with the Lightning Network, Segregated Witness, and Atomic Swap. Through these, we hope to develop the most user-friendly, scalable merchant payment system that can aid in giving back to the planet through day to day actions that people are already accustom to today.

More on the future of Bitcoin Air will be released in a later article detailing our source, algorithms, and much more including a more detailed analysis on the technical aspects of our development.

The Official Airdrop Information

After a long discussion with our team, and having several conversations with both the teams at Haven Protocol and Peercoin. We have decided to airdrop $XAP to only holders of Peercoin and Bitcoin.

After careful consideration, and numerous requests from the community, we have decided to NOT move forward with airdropping to Haven Protocol due to some of the communities disagreement with our project, and the extensive bad background that has accumulated with Haven Protocol including Bitcoin Bravado and the recent Nanex Hack. We have fully agreed to move forward with the airdrop, and the only difference is now Peercoin and Bitcoin Holders will only receive Bitcoin Air ($XAP).

The ratio for Bitcoin and Peercoin Holders will be announced shortly.

The official snapshot date will take place on Thanksgiving Day, November 22nd, 2018.

Important Links

Website: http://www.bitcoinair.org/
Short Paper: http://www.bitcoinair.org/ShortPaper.pdf
Trello Board: https://trello.com/b/7YOa4yCk/bitcoin-air
Reddit: https://www.reddit.com/r/BitcoinAir/
Twitter: https://twitter.com/BitcoinAirNews
Discord: https://discord.gg/MWDJpWb
Medium: https://medium.com/@BitcoinAirNews
Github: https://www.github.com/BitcoinAir
Announcements: https://t.me/BitcoinAirANN
Peercoin: https://www.peercoin.net/
Peercoin Telegram: https://t.me/peercoin
Peercoin Discord: https://discord.gg/quWGnxp

What comes to mind when you think of an approach for something like Air?

The presence of Air is something lightweight, unnoticeable, but completely life engulfing. It supplies the core necessity of life, and at the same time maintains it’s own characteristics such a degree, speed, and content. This being said, Air is a versatile and essential element to life that can be subject to any and all variables while maintaining consistency and purpose.

We apply this same logic to Bitcoin Air. The need for a lightweight, versatile, and completely essential piece of financial technology has began the race to develop what every entrepreneur has seen as the “Cryptocurrency Bubble”. Riddled with coins of no use, pump and dump scams, and market manipulation, cryptocurrency has earned both it’s wraps as an innovative financial technology, and both a burden upon society. Over 1600 new cryptocurrency have sprung up with some having no meaning at all. With Bitcoin Air, we seek to provide a new form of connection between merchant/consumer by creating a uniquely operating dual blockchain.

The solution Bitcoin Air seeks to bring to the table is an innovative approach at developing two bilateral side-chains that function together, but separately. One chain would operate as a reserves system (static value) and the other end would operate as a payments system (volatile value). The volatile chain will allow public sends and transactions to places such as user to user, user to exchange, and user to merchant. The static chain will only allow mint/burns into either $XAP or AirCash. This hidden static chain will operate bilaterally to the volatile chain and will not allow private sends or access via an exchange. It will be a privately accessible blockchain through the consumer and merchants wallets only. The main purpose of this side chain is to create an internal blockchain reserves system that could not only let a user operate as their own bank, but also their own lightweight reserves system that can print and remove funds from circulation as they please. Once funds are on the static side chain, a user can view the motion of the market health and choose their strategic moment for reentry into the volatile side chain. If the user would prefer to conduct sales and transaction off the blockchain and would rather be able to use their funding without the need for worry, they can mint their USDAP into AirCash.

$USDAP and AirCash will be the static options to send and receive value. While $USDAP is a static value cryptocurrency, AirCash is a static value paper fiat that will allow any user of Bitcoin Air to burn $XAP, mint $USDAP, and then burn $USDAP, to mint AirCash. The user would receive a printable fiat currency design with a QR code that is specifically for “sweeping” into another users wallet, or back into their own. AirCash will look like a custom fiat, but the user will be able to print it right out of their own home printers. AirCash will have the set value you peg to it by burning $USDAP and minting it all to a chosen AirCash Denomination ($5USDAP, $10USDAP, $20USDAP, $50USDAP, $100USDAP, $1000USDAP, and so on). Paying with AirCash is as simple as handing over the fiat currency with the correct denomination stated and the merchant/receiver can simply sweep the value of $USDAP into their wallet and then the paper fiat currency becomes useless and can be recycled!

Come time for a consumer or merchant to want to exit the market, they can simply mint all USDAP/AirCash into $XAP and proceed to send it to a supported exchange of their choice. Their $XAP will become influenceable by the market health at that point and the user could then exchange it into the currency of their choice via any easy to use cryptocurrency exchange out there!

Can you explain the ratio and confirm what coins will be a part of the fork?

Confirmed Coins for Fork:

1. Bitcoin ($BTC) holders will receive Bitcoin Air ($XAP)
2. Peercoin ($PPC) holders will receive Bitcoin Air ($XAP)

Bitcoin Holders Airdrop Ratio Explained: Bitcoin holders will receive $XAP at a ratio that will be described at a later date.

Peercoin Holders Airdrop Ratio Explained: Peercoin holders will receive $XAP at a ratio that will be described at a later date.

How can I help out with the growth of Bitcoin Air?

Currently we are two programs being offered to allow the community to take part in aiding in the growth of Bitcoin Air. As a community driven coin, we feel the best thing we can do is extend opportunities to the community to put in their say as well as provide their services to expanding the communities outreach. This being said, Bitcoin Air has went ahead and began 2 programs that will begin from this day forward until the August 15th Fork Date Announcement:

Bitcoin Air Evangelists Program

If you are someone who is not only great at getting the word out there, but also at getting your point across, then we want you to apply for our Evangelists Program. We are seeking top level community individuals who and pioneer the way at guiding their communities to the amazing things that Bitcoin Air has to offer. This includes organizing events, promoting the growth of Bitcoin Air, conducting community wide analysis, and gathering requests and criticism from the region you manage.

The Bitcoin Air Evangelists play a key role in the expansion of Bitcoin Air to the local small business market. This being said, we are not just accepting anybody into the Evangelists Program. To qualify for the Evangelists Program, you must have some previous experience in marketing, business development, business management, and community interaction. The ideal candidate will be awesome at social networking, targeted approach, and have a keen eye for detail.

The Evangelists who produce the best conversions based on growth of community, partnerships, and acquisitions will receive a full expansion into a paid position upon our development completing. We are seeking Evangelists from all over the world to ensure we can have the most diverse cultural outreach to be able to implement into our business model.

Bitcoin Air Viral Bounty Program

If you are a person who is capable of extensive marketing and social networking, then the Bitcoin Air Viral Bounty Program is an awesome way for you to earn a great prize. We have partnered with UpViral.com to provide you all with an easy to use platform that can help you track the growth of your marketing outreach and convert it into real points on a leaderboard. This leaderboard will display the current top ranking individuals who have marketing Bitcoin Air the most and were able to gather individuals to join our social networks.

The tasks are quite simple and include the need for you to follow and retweet/repost some posts we have made to help spread Bitcoin Air in a viral fashion. You will be able to also gain more points by sharing your referral url which will bring any users who are interested to the UpViral page to participate as well. The main goal of this bounty program is to offer people a way to give back to Bitcoin Air while also winning some large prizes while doing so!

Don’t wait.

Can you answer some of the communities questions?

• What is Bitcoin Air?

Bitcoin Air is a new lightweight cryptocurrency dedicated to bringing cryptocurrency main-stream adoption to small businesses world wide. Bitcoin Air is the first bilaterally operating blockchain that will feature two chains uniquely operating as one!

• How does the airdrop/fork work?

The process would be done via UTXO addition to our core and it would require you to hold Peercoin orBitcoin through the fork snapshot. To receive the airdrop, you would transfer ALL of your funds OUT of your wallet address (the one you held in through the snapshot) to a safe separate wallet address. You would then take the empty Peercoin/Bitcoin Key and conduct a “sweep” in your wallet to receive your Bitcoin Air or USD Air Protocol. Please remember to NEVER conduct a sweep for a airdrop with an amount inside of your wallet private key that you are importing. Always send the entire balance to a new address after a snapshot is completed if you plan to receive the airdrop.

• Where do I need to store my BTC or PPC?

Bitcoin and Peercoin Holders will be updated later with approved exchange support near the time of the fork. For now, you must all consider the basis that you must hold all of your coins within a wallet off of exchanges to ensure you receive the Airdrop.

• Who is creating this fork?

This fork is currently be developed by a handful of private funding partners who are none-corporate, none-ICO, and none-VC. The development is lead by Anthony Colón Jr., but is thoroughly overseen by all Leads on the project.

• When is the fork date?

The fork date is to be announced come August 15th to give us adequate time to prepare our PoC, MVP, Test net, and Main aspects to our merchant protocol and consumer usage features. We ask that everyone remain patient while we work and know that we are a team of nearly 20 individuals all seeking to push out some kick a** work and ensure that we get things done on time for you guys!

How can I find out more about the team and the upcoming fork?

One important date to keep in mind is June 15th, 2018. Within the next week, we will be hosting our official Team Announcement and Team AMA where you guys as the community members can ask us anything you would like to know more about Bitcoin Air. The webinar will be hosted with Zoom and will allow up to 10,000 participants to join us in our open discussion on the path of Bitcoin Air and where we see it going!

You can also stay up to date with our social links below:

Website: http://www.bitcoinair.org
Telegram: https://t.me/BitcoinAirENG
Reddit: https://www.reddit.com/r/BitcoinAir/
Twitter: https://twitter.com/BitcoinAirNews
Twitter: https://twitter.com/BitcoinAirUSA
Discord: https://discord.gg/Cr92Htu
Medium: https://medium.com/@BitcoinAirNews
Github: https://www.github.com/BitcoinAir
Announcements: https://t.me/BitcoinAirANN