Bitcoin Free Cash price is $0.05873700
As of the latest update, Bitcoin Free Cash (BFC) has increased at a current price of $ 0.05873700. This reflects a +0.00% change over the last 24 hours with a trading volume of 28.4K.
Bitcoin Free Cash (BFC) is a digital asset and a newer entrant in the world of cryptocurrencies. It positions itself distinctively by leveraging the Cuckaroo29 Search algorithm, which is tailored to resist Application-Specific Integrated Circuits (ASIC) and prevent the centralization of mining power. Constructed with the principles of decentralization in mind, BFC aims to offer a more equal and cooperative mining environment, steering clear of the power monopoly that can be found in other cryptocurrency networks.
Bitcoin Free Cash utilizes a unique consensus mechanism known as CPoW, or Conditioned Proof of Work. This system allows for a type of mining that places conditions on participants, most notably requiring them to store a specific amount of BFC in their wallets to maximize their mining revenue. For instance, a miner must pre-store 300 BFC for every 1K of computational power to reap 100% of potential mining profits. Should miners elect not to meet this precondition, they are still able to mine BFC but would only be entitled to 30% of the profits.
At the core of Bitcoin Free Cash's innovation is the Cuckaroo29 Search algorithm. The team behind BFC claims that this algorithm is a significant improvement over others as it can effectively resist ASIC mining. ASIC resistance ensures that the mining process cannot easily be dominated by entities with powerful and specialized hardware, thus maintaining mining decentralization and encouraging equitable participation by individual miners.
Bitcoin Free Cash aims at creating a secure ecosystem by incentivizing cooperation among miners instead of competition. By refraining from engaging in 'hash wars' typically seen in other mining communities, BFC proposes to encourage a more secure and trustworthy environment. The cooperative approach, backed by the Cuckaroo29 algorithm, is intended to make BFC a stable and secure cryptocurrency that users can trust.
The creators of Bitcoin Free Cash have designed the CPoW mining mechanism to curtail the digital currency inflow into the market, potentially increasing the income of miners by reducing the competition for mining rewards. By requiring miners to hold a stake in the currency via the pre-store condition, miner commitment is ensured, and the mining rewards are distributed in a way that might favor long-term network security and value sustenance.
The total supply of BFC is 21.0M coins, while the circulating supply currently stands at . These figures are pivotal as they help investors and users understand the scarcity and inflationary aspects of the cryptocurrency.
Beyond its distinctive mining protocol, Bitcoin Free Cash also targets commercial applications. The team behind the cryptocurrency claims its utility in various commercial lending scenarios involving banknotes, credit loans, leasing services, credit guarantees, and risk control. The adoption of BFC in these areas could signify its potential to function not only as a medium of exchange but also as a facilitator of traditional financial services.
Interested parties can acquire Bitcoin Free Cash (BFC) on various that currently support the cryptocurrency. It’s essential to conduct thorough research and choose a reputable exchange to carry out transactions securely.
Bitcoin Free Cash is ranked at number #1 in terms of market cap, which currently stands at $ . This ranking is an indicator of its market position relative to other cryptocurrencies in circulation.
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