Bean Cash (BEAN), that was formally BitBean (BITB) is a super green digital currency that allows fast, simple and secure peer-to-peer transfer of money on the blockchain. It features larger blocks than those of Bitcoin, thus being able to handle about 1300 transactions per second. It is the first blockchain to implement a 20 MB block as a maximum solving Bitcoin's scalability challenge. The platform also features static block rewards that utilize a special Proof of Bean (PoB) system. The natureShow more [+] of this blockchain enables it to compete effectively with conventional payment and money transfer services such as PayPal. The main aim of this platform is to solve the "last mile" digital currency issue of bring cryptocurrency completely into real world use.
Bean Cash uses BEAN as the native currency for running operations on its network. The coin utilizes SHA256 algorithm, and a special hybrid Proof-of-Work/Proof-of-Stake consensus mechanism. The coin did not have a premine and no ICO (Initial Coin Offering). Each PoS block is 1,000 coins and takes just 60 seconds to have a transaction verified, validated and settled. There are no charge-backs ensuring maximum security and very low transaction fees compared to other networks like Bitcoin. Transaction fee is as low as .01 BEAN or just a cent. The network uses a process called SPROUTING in which users receive incentives for sharing their resources on the network. BEAN Cash is further looking forward to introducing Proof of Resources (POREs) a consensus mechanism that will see BEAN nodes earn even more BEANS.
Bean is compatible with CoinPayments Wallet and is listed for trading on various exchanges including Bittrex, Upbit, Cryptopia, CoinExchange, Bleutrade and YoBit. The platform is managed by a team of blockchain experts with an aim of improving the Bitcoin protocol.
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