Bitilluminati Introduction

INTRODUCTION

BIC is a decentralized cryptocurrency which is meant for wide usage mainly on USA/Asian/Europe markets but can be used all around the world.

BIC was built on top of the own network. This allows all users to secure each other's transactions by referencing earlier transactions created by other users, and also removes scalability limits common for blockchains, such as block size issue.

The consensus algorithm used to protect from double-spends is based on establishing a total order within the BIC. This is achieved by selecting a chain, called main chain, which gravitates towards units issued by commonly recognized reputable users — witnesses.

BIC is using own network chain as underlying network but it is totally new asset. All together there have been issued 66 000 000 BICs which means 40*15 microBICs.

By using BIC-chain, BIC is the first cryptocurrency that is targeting developing markets with the capability of being an everyday currency. Having solved the issues of scalability and keeping the cost of transactions fee-s very low, the only challenge is to spread the knowledge about crypto currencies and BIC. For this, extensive marketing campaigns will be run in social media and also in traditional marketing channels alongside with affiliate marketing.

 It is important to educate the end user on what is crypto currency and what are the benefits of using it.

WHAT IS BLOCKCHAIN?

Most cryptocurrencies are based on innovational blockchain technology.

 A blockchain is a public ledger of all transactions that have ever been executed. It is constantly growing as 'completed' blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order.

 To use conventional banking as an analogy, the blockchain is like a full history of banking transactions. Transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks, meanwhile, are like individual bank statements.

FIRST USES OF BIC CHAIN

Draft

@2017, Foxy blaze, a cryptocurrency specialist from Boston, posted his draft (drafted already in 2014) of a coin based on BIC chain. This never became a project and remained just a draft, so no actual coin was created.

IOTA

In the end of 2016 a cryptotoken optimized for the Internet-of-Things (IoT) industry called IOTA and upcoming is POB, was introduced. Instead of the global blockchain, the main innovation behind IOTA that they call Tangle – a blockless distributed ledger which is scalable and lightweight. IOTA is currently still in Beta.

BIC

BIC is the first asset built on own platform and network. BIC evolve hand-in-hand.

For More Information

Website : https://www.bitilluminati.com/BIC/

Whitepaper : https://bitilluminati.com/BIC/document/BIC_Whitepaper.pdf

Telegram : https://t.me/BitilluminatiCoin

Ann Thread : https://bitcointalk.org/index.php?topic=3180300.msg32947411#msg32947411

Facebook : https://www.facebook.com/pg/bitilluminati/community/

Twitter : https://twitter.com/BitilluminatiCo

Android APP : https://play.google.com/store/apps/details?id=com.bitilluminati.bitilluminati

My Profil Bitcointak: https://bitcointalk.org/index.php?action=profile;u=1687366;sa=summary