BitcoinSoV

Mining

Copy link
Share on X

Claim company
Report company

Description

BitcoinSoV (BSoV) is a decentralized, deflationary digital currency built on a Proof of Work consensus using the Keccak256 (Sha3) hashing algorithm for mining. Launched in 2019 on the Ethereum platform, BSoV's unique approach includes no ICO, no pre-mine, and no governance structures, ensuring fairness and decentralization. BSoV aims to be a true Store of Value, immune to inflation, with censorship-resistant features. The distinctive 1% burn on each transaction reduces the total supply over time, enhancing scarcity. Currently, BSoV has a supply of 20,891,191.854365 tokens with none in circulation, recently priced at $0.05302676 USD, witnessing a 1.44% increase. It is traded on three active markets. For more information, visit [BSOV Token's website](https://bsovtoken.com/).

Socials

Similar companies

Bitcoin SV

Bitcoin SV (BSV), a Bitcoin Cash hard fork from Nov 2018, embodies Satoshi's vision with a focus on scalability, stability, and low-cost transactions through larger block sizes, targeting both payments and enterprise applications.

Sovryn

Sovryn, a DeFi platform on Bitcoin via RSK blockchain, offers trading, lending, & borrowing. Emphasizes security, user sovereignty, & permissionless access with its SOV token for governance & incentives.

SoVReign

SoVReign combines social networking with DeFi and governance, offering a decentralized platform for user-controlled data and financial activities using a native token for transactions and incentives.

BitcoinV

BitcoinV integrates Variable Block Rewards (VBR) allowing miners to set rewards and mine blocks with variable difficulty, enhancing security and autonomy.

Bitcoin Vault

Bitcoin Vault leverages a three-private-key structure to provide enhanced security, transparency, and freedom for users, addressing key issues in the crypto space.

S

Token S, created by crypto influencer Snehur, is a deflationary utility token. Integrated into a dynamic web3 ecosystem, its supply is reduced by constant burns, promoting scarcity.

Shib Original Vision

Shib Original Vision ($SOV) is designed to restore transparency and fairness to the Shiba Inu community with one of the largest airdrops in crypto history, targeting active $SHIB wallets.

BitcoinPoS

BitcoinPoS transitioned Bitcoin to a Proof-of-Stake model improving decentralization, security, and eco-friendliness. Users can mine BTCS by importing specific keys.

Vow

Vow decentralizes currency issuance through blockchain technology, allowing businesses and individuals to create their digital currencies, enhancing financial inclusion and autonomy.

BOOSTO

BOOSTO is a decentralized platform enabling influencers to create dApps for direct fan interaction, streamlining dApp development with pre-built modules, using BST tokens for ecosystem transactions.

Boson Protocol

Boson Protocol merges physical goods with digital commerce via NFTs, enabling decentralized, intermediary-free transactions on blockchain to disrupt e-commerce.

BITSO

Bitso is a crypto trading platform offering buying, selling, and using cryptos for daily transactions, focusing on bridging fiat with digital assets for financial inclusion and promoting digital economy innovation.

FAQ

What is BitcoinSoV (BSoV) and its primary function?

BitcoinSoV (BSoV) is a decentralized, deflationary digital currency built on a Proof-of-Work consensus. It utilizes the Keccak256 (Sha3) hashing algorithm for mining within the Ethereum ecosystem. BSoV is designed to be a store of value, protecting against inflation through its unique token burn mechanism. With every BSoV transaction, 1% of the transferred amount is permanently burned, increasing scarcity and enhancing its value proposition as a deflationary asset.

How does BSoV ensure fairness and decentralization?

BSoV achieves fairness and decentralization by forgoing any ICO, pre-mine, or governance structures, distinguishing itself from many other cryptocurrencies. This approach ensures a more equitable distribution of tokens, allowing the community to fully manage the currency without centralized control. As a result, BSoV provides a censorship-free and decentralized financial platform, appealing to users seeking a true peer-to-peer network.

What are the benefits of using BSoV compared to other cryptocurrencies?

BSoV offers several advantages over other cryptocurrencies, primarily through its deflationary model. By burning 1% of tokens per transaction, BSoV increases scarcity and potentially boosts its value over time. Additionally, as there was no ICO or pre-mine, it ensures a fair distribution, aligning with the core principles of decentralization. BSoV’s operation on the Ethereum platform also provides compatibility with existing smart contract applications, enhancing its usability.

How is the BSoV token mined and what algorithm does it use?

BSoV can be mined using a Proof-of-Work (PoW) system, which relies on the Keccak256 (Sha3) hashing algorithm. This algorithm is integral to ensuring network security and consensus across the decentralized network. Miners contribute computational power to solve cryptographic puzzles, enabling the creation of new blocks and earning BSoV tokens as a reward, further securing the network's transactions and data integrity.

In what ways does BSoV protect its value from inflation?

BSoV employs a deflationary mechanism that helps protect its value from inflation. Every transaction involving BSoV results in a 1% burn of the transaction amount, diminishing the total supply of tokens over time. This method contrasts with inflationary currencies where new coins are continuously minted. By reducing the available supply, BSoV enhances scarcity, potentially leading to increased demand and value over the long term.

What should I do if I encounter issues when transacting BSoV tokens?

If you encounter issues when transacting BSoV tokens, first ensure your wallet supports ERC-20 tokens and is integrated with the Ethereum network. Double-check the transaction details, such as the recipient address and token amount, for accuracy. If issues persist, consult the support resources provided on the [BSoV Token's website](https://bsovtoken.com/), or reach out to relevant community forums for guidance from other users and developers familiar with the platform.

FAQ

Company is unclaimed. Do you work for or own this company?

Description

Socials

Tags