Bitgesell: The Next Store of Value Coin After Bitcoin

in #blockchain • 4 years ago

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Currently, blockchain-based computerized monetary standards follow a typical plan standard setting. It combines decentralization, directness, immutability, security, protection, adaptability, low fees, and high exchange speed. Today's digital currency can serve many purposes, but the real market needs a coin that is determined to be an authentic store of significant value for overall wealth. Such is the situation with BitGesell, the advance that was recently sent includes a deflationary way of thinking that is meant to build its value over the long term.

What is Bitgesell?
Bitgesell is a proof of work (PoW) digital currency developed on its own "bitgesell chain" to function as a store of value just like bitcoin. Bitgesell's primary purpose is as a store of value, emulating bitcoin with only a maximum supply of 21 million Bitgesell coins ever in circulation. After learning from bitcoin bottlenecks; the flagship cryptocurrency, Bitgesell was able to go one step ahead of bitcoin by developing a tokenomic that is superior to bitcoin.
Bitgesell burns 90% of transaction fees to not only increase the value of the bitgesell token but also increase its rarity thereby increasing it as a store of currency value.

Bitgesell is a dynamic and interactive network that leverages its own blockchain to provide full transparency and reliability for all processes. Bitgesell blockchain goes further into the future with a hypermodern look.

With so many modern blockchain issues like; energy consumption, scalability, large block size, high transaction rate etc, Bitgesell modifies blockchain architecture to improve communication protocols, network infrastructure, consensus algorithms and much more

Features/Advantages of Using Bitgesell
Despite having so many blockchain platforms that claim to solve today's problems, Bitgesell should be the choice because of the value it offers to users of its ecosystem. Some of these features include;

  • Functions as a store of Values:
    Just like any other cryptocurrency out there, Bitgesell can function as a store of value, providing investors with financial value, just as Bitcoin and other coins do for their investors.

  • Has a Unique Combustion Mechanism:
    Bitgesell platform has a native token which is abbreviated as $BGL. 90% of transaction fees on the platform are forfeited. This automatic burning mechanism reduces the total token supply. And when there is an increase in the demand for the $BGL token and the supply is limited, the price of the token is expected to increase exponentially.

  • Easily accessible:
    $BGL tokens are available on Hotbit, Digifinex, and Crex24 exchanges. This means that investors around the world can buy tokens from the platform, in different locations.

  • Frequent Halving of the Block chain:
    The rate at which the halving occurs at Bitgesell halving occurs annually unlike Bitcoin which occurs every four years. Halving occurs every 210.00/4 or 52,500.

  • Scalability and Speed:
    The Bitgesell blockchain has the advantage of speed when it comes to activities within its ecosystem. Which solves a problem that older blockchains couldn't. Transactions take seconds to complete rather than hours or minutes. Bitgesell uses 4th generation blockchain capabilities with faster consensus, faster transaction times. This ensures maximum speed in transactions.

  • Multi-platform Software Solution:
    In order to be able to access various users across all platforms, a mining pool and web wallet has been created by the Bitgesell team to run on Android, iOS and Web based devices.

  • Security and Transparency using Distributed Ledger Technology (DLT):
    On the Bitgesell platform, the information in the blockchain is not stored on a single server. Instead, information and records are distributed across participants on the network, so no fraudulent information can occur without other people on the network verifying and approving it. It also means that old records cannot be changed.

Why Choose Bitgesell?

  • Unique burning mechanism:Bitgesell's operating model helps increase the value of $BGL used to increase transactions on the Bitgesell blockchain. 90% of transaction costs are burned to reduce supply thereby increasing demand and reducing supply.

  • Accelerated halving: The rate at which halving occurs on bitgesell is faster, larger and unique than any other blockchain industry. Halving occurs every 210.00/4 or 52,500

  • Transparency: Blockchain is an open and distributed ledger. It only allows to record data in a visible way which means new records can be added to the ledger but old records cannot be tampered with without creating a completely different ledger. This unique property enables the ledger to be a solid, auditable database that two or more parties can trust without any doubt in its trustworthiness.

  • Speed: Speed ​​is key and vital as long as technology is a concern. Everyone wants their transactions to be done in seconds and not the old-fashioned, hours-old way to make transactions. Bitgesell's blockchain technology has all the best features of a fourth generation blockchain with faster consensus, including very fast transaction confirmation. This ensures maximum speed in transactions

BitGesell's plan solves a large number of the difficulties listed earlier. As part of this section, readers will come to see how BitGesell achieves its ideal of hoarding value through its deflationary instrument.

BitGesell (BGL) is a hard fork of Bitcoin Core, taking advantage of the developmental configuration challenges that separate it from its more experienced sibling. Most importantly, BGL also relies on splitting, but the development team has decided to speed up the cycle. Perhaps rather than occurring periodically, BitGesell passes the chance of splitting once a year. Product engineering makes these components immutable, so it will essentially take more time to print the entire BGL inventory. Apart from reducing square rewards, BitGesell also includes a coin consumption component. This involves that 90% of the exchange fee is forfeited, as is Freigeld Silvio Gesell's standard. By withdrawing cash from courses, BGL fees are encouraged to grow as long as they exist'

True to its form, BitGesell has chosen to include a bitcoin-equivalent printing limit.
With a tight cap of 21 million BGL, halving consumption and reliable exchange will result in an impressive increase in value for coin owners, turning BitGesell into the ideal method of price hoarding. Diggers have no compelling reason to be stressed; Apart from the consumption of contracts and exchange fees, the people who decide to hold their crypto will get broad returns as the value of the coin expands at an accelerated rate.

In terms of particulars, BGL weighs 400KB squared – several times less when compared to bitcoin. This helps the BitGesell blockchain achieve large executions by having the option to support adequate exchange throughput, regardless of whether it embraces bulk. With lower block times, exchanges are sure to be confirmed within moments, usually unaffected by potential organizational blockages.

BitGesell does not lose any profits associated with bitcoin. The blockchain has all the benefits, including decentralization, immutability, directness, low costs, and ideal security. Indeed, BGL even has SegWit in common.

BGL Token
BGL is a ticker for Bitgesell coins used as a store of value. It is a multi-chain coin that exists on the binance smartchain as wrapped bitgesll (WBGL BEP20) and on the ethereum chain as wrapped bitgesell (WBGL ERC20) The wrapped bitgesell value is the same as the original BGL in the chain bitgesell, i.e; 1 WBGL BEP20 = WBGL ERC20 = 1 BGL.

Total tokens

  • Title: Bitgesell
  • Blockchain : bgl.bitaps.com
  • Symbol: BGL
  • Price : $0.01676 - at the time of writing

Purse
The bitgesell wallet is available as a mobile wallet on both android and ios, and also as a browser extension, and a PC wallet.

Conclusion
Bitgesell with its superior tokennomics over other proof-of-work Coins like bitcoin have proven to be a rare store of value to be reckoned with in the crypto verse. With a steady supply of only 21 million BGL ever in circulation, 90% burnt transaction fees and a half cycle of only 1 year, bitgesell is a real coin that serves as a store of value.

Detailed Information Please visit the link below:
Website: https://bitgesell.ca/
Twitter: https://twitter.com/Bitgesell
Telegram: https://t.me/bitgesellofficial
Media: https://bitgesell.medium.com/
Discord: https://discord.gg/uTZtBbRuEn

Author :Homio
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2865336
BGL Wallet Address : bgl1qxdwlxwdzgmd8n8w82pllalxhy3w4echmcelmva

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