Bitcoin File price is $0.01291044
As of the most recent update, the current price of Bitcoin File (BIFI) is $ 0.01291044. The price has increased in the last 24 hours.
Bitcoin File (BIFI) is a cryptocurrency that seeks to incorporate data sharing and storage into the blockchain, an immutable digital ledger. It integrates the features of Bitcoin and IPFS (InterPlanetary File System) to facilitate the de-centralized transfer and storage of data. Its main draw lies in its ability to offer a safe and secure storage system that is resistant to censorship, thus providing enhanced user privacy.
The identity of the creators of Bitcoin File is not precisely specified, much like other decentralized cryptocurrencies. However, the team behind this cryptocurrency has contributed significantly to its conception and ongoing development. The design of Bitcoin File aims to capitalize on the strengths of Bitcoin, such as its reliability and security, and IPFS's benefits, like its efficient and decentralized file storage and sharing.
Bitcoin File operates on a Hybrid PoW-PoS consensus mechanism. It combines the immutability and security of Bitcoin's proof-of-work algorithm with the energy efficiency of proof-of-stake systems. In simple terms, the Bitcoin File system allows users to send BIFI tokens as a transaction fee, thus facilitating the storing and sharing of data.
When a user wants to store a file, they send a transaction to the network along with a small fee. Miners then add this data to the ledger, and the file gets an address within the BIFI network. Anyone looking to access the file can do so using this unique address—similar to how one would access a webpage with a URL.
Bitcoin File differentiates itself through its combination of the Bitcoin and IPFS frameworks. By integrating IPFS's data storage capabilities into Bitcoin's decentralized network, BIFI enables users to store and share files in a safe and censorship-resistant manner.
Another noteworthy feature of Bitcoin File is its Hybrid PoW-PoS consensus mechanism. This combination offers both the robust security of proof-of-work systems and the relative energy efficiency and scalability of proof-of-stake systems.
Bitcoin File holds a market cap rank of #1 with a total market cap of $ . This metric offers an idea of Bitcoin File's size within the overall cryptocurrency market.
Bitcoin File has a circulating supply of .
The trading volume of Bitcoin File in the last 24 hours is approximately 0.7M.
You can buy Bitcoin File (BIFI) on the following exchanges: Huobi.pro, Gate.io, Huobi, Nova. Please be mindful of your online safety and security when purchasing any form of cryptocurrency.
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