Part of what has cemented cryptocurrencies on the map since they exploded into the mainstream investor market has been their volatility. Investors flooded to the likes of Bitcoin when, through November and December 2017, the value of the cryptocurrency increased in value exponentially.
However, such volatility is a two-edged sword, and the cryptocurrency market has shown that in 2017 with Bitcoin’s price shedding more than 50 percent at times from its year end price of $13,000.
The cryptocurrency market has also felt the ill effects of Bitcoin’s volatility because as a result of the price drops, Bitcoin’s trading volume, and even interest in the digital currency realm also decreases. The danger is that volatility can cause a large exodus of investors to occur which severely dents the hopes of other cryptocurrencies gaining mass adoption status.
Volatility should be at the center of attention if there is to be a future in which crypto is used widely in day-to-day instances. Bitcoin Air will defeat all of these issues by ultimately providing both a decentralized payment system and a decentralized reserves system that can operate 100% trust free and decentralized from any central power. What is Bitcoin Air? and how it works? Let’s find out in this brief review.
Bitcoin Air is a new lightweight cryptocurrency dedicated to bringing cryptocurrency main-stream adoption to small businesses worldwide. Bitcoin Air is the first bilaterally operating blockchain that will feature two chains uniquely operating as one. It is a bilateral merge fork between Bitcoin ($BTC) and Peercoin ($PPC).
Bitcoin Air plans to reduce carbon emissions through the development of a dual chain volatile/stable coin pair dedicated to creating the most versatile and scalable solution for merchant and consumer use. By combining the feature rich and populated base of Bitcoin, with the environmental and user-friendly consensus method of Peercoin, Bitcoin Air produce the perfect dual-chain Blockchain that has ability to maintain both stable and volatile value.
Bitcoin Air’s mission is to design and produce the first viable attempt at tackling the key issues associated with cryptocurrency, small business and environmental risks at hand today. By producing the first Carbon Credit Asset-Backed Dual-Chain Blockchain, Bitcoin Air leads the way in pioneering the adoptability, scalability, and overall benefits of using the Blockchain. Combining this technology with Green Initiatives and a viable means of Asset-Backing, Bitcoin Air creates the first Living Ecosystem dedicated to reducing the Human Footprint, lowering the cost of living, and increasing the overall quality of life.
Bitcoin Air seeks to develop a easy, user- friendly, rapid payment system that is accessible and secure enough for everyday use!
Utilizing its unique Air Protocol technology, Bitcoin Air’s users can choose to off chain the value of their Bitcoin Air, immediately locking in the USD value in relation to Carbon Credit Asset Backing. Bitcoin Air off chaining capability will preserve the USD value of any burned coins in USDAP through a bilaterally operating side chain that will gain it’s supply through the action of off chaining Bitcoin Air to USDAP. Maintain peace of mind knowing that the value of your Bitcoin Air is securely guarded by the Air Protocol.
Bitcoin Air will utilize a lot of the currently available technology including; Segregated Witness, Lightning Network, and Atomic Swap. This will expand into Bitcoin Air’s off-chaining and onchaining features that will ultimately be implemented into the Air Protocol to secure the value of a users coins.
Bitcoin Air will start with a limited circulating supply that will vary based on the minting and burning of coins through the Air Protocol. Two bilaterally operating chains will be interacting with each other through consensus nodes that will come to an agreement on whether or not the burn/mint process can be pushed while ensuring a number of factors are in line before validating it on the network.
This action, called off chaining, will occur by a consumer using the “Spend” protocol or “Swap” protocol initiating a burn of supply, and an immediate minting of exact USDAP on the side chain. This side chain will maintain a static value based on the amount of USDAP available through the off chaining process.
The circulating supply of Bitcoin Air will lower along with the available market cap, maintaining the value of each share on the volatile chain. This will allow merchants and small businesses to “Side chain” their value if they would prefer not to fall victim to market health.
The storage of Air Protocol will be on a privacy focused side chain that will allow open access to your ledger. While privacy isn’t our main goal, we feel that all transactions and earnings should be maintained to the users discretion of use. This in turn means that access to your ledger of mints/burns will be at your control at all times. Publicly permitted API’s will be developed to allow for even the most common bookkeeping and accounting softwares to integrate with your private ledger.
The act of reentry into the market will be as simple as “On chaining” your USDAP to Bitcoin Air. This event will occur through the burning of USDAP and the minting of Bitcoin Air at the current market rate. This action, called on chaining, will cause a rise in circulating supply, along with a rise in market capitalization to make sure no other holder takes a negative impact by reentry to the market.
Simultaneously, the burning of USDAP will lower the circulating supply and lower the reserves available on the static value side chain.
The official Bitcoin Air snapshot will take place on November 22nd, 2018. The overall fork will take place by utilizing two different blockchains and in the end result creating one bilaterally operating dual blockchain. The Peercoin Blockchain is what our entire development will begin on, during this time, the Bitcoin UTXO will be added along with several core features including Lightning Network, Segregated Witness, and Atomic Swaps.
Bitcoin Air will also be implementing its side-chaining method that will allow people to off chain their XAP to a stable value USDAP. The users receiving Bitcoin Air at the time of the fork will be holders of Peercoin and Bitcoin at a ratio that will be announced closer to the fork date.
Bitcoin Air will begin by increasing the size of the Blocks to 32 MB each, reducing the block time to 4 minute targets, doubling the tail emission of Bitcoin, maintaining the block reward of 12.5 XAP, and introducing Hybrid Dynamic Proof-of-Stake/Proof-of-Work Consensus. All of this coupled with the backing of a Clean Air Initiative.
Short Paper: http://www.bitcoinair.org/ShortPaper.pdf
Trello Board: https://trello.com/b/7YOa4yCk/bitcoin-air
Telegram Ann: https://t.me/BitcoinAirANN
Peercoin Telegram: https://t.me/peercoin
Peercoin Discord: https://discord.gg/quWGnxp
My BitCointalk profile: https://bitcointalk.org/index.php?action=profile;u=1045517;sa=summary
12 November 2018
12 November 2018
12 November 2018
12 November 2018
11 November 2018