Bitcoin Green (BITG) is a peer-to-peer decentralized cryptocurrency that aims to solve Bitcoin's scalability and sustainability challenges. It utilizes a special PoS (Proof-of-Stake) and masternode consensus mechanism called the Green Protocol algorithm, that is based on PIVX. This coin can be mined using any computer, unlike Bitcoin that utilizes specialized mining machines. This project also aims at raising awareness over the environment to curb the excessive consumption of energy caused byShow more [+] Bitcoin (BTC) mining. Currently, Bitcoin mining utilizes more energy than about 82% of the countries in the world. Such consumption is unsustainable, and thus, Bitcoin Green wants to solve the energy problem.
Using PoS instead of PoW is the key difference between BTC and BITG. PoS uses economic rewards to manage the and secure the blockchain where the rewards are proportional to the amount of cois staked. PoW has to perform complex computational problems to win a block reward which requires a lot of energy. Rewards from mining in PoS are distributed to coin holders instead of third-party miners. Finally, in PoS, participants have their economic rewards directed towards enhancing the network's technology rather than just trying to maximize profits.
BITG coin is not premined, but is mineable using the PoS and masternode consensus mechanism or the Green protocol algorithm. The coin's ICO (Initial Coin Offering) ended on May 31, 2018 and raised $6.5 million. The coin is listed on various exchanges including Cryptopia, CryptoBridge, STEX and CoinExchange.
In addition to its advisors, Bitcoin Green was founded and is managed by Dylan Rhodes, Alec Beckman and an anonymous individual with the pseudonym Don.