BitcoinPoW (BTCW)Bitcoin using PoW/PoT to eliminate mining pools
Bitcoin work is performed by hashing a user's unspent transactional outputs(utxos). The more utxos processed per second, the higher their hash rate. All utxos are treated equally, thus giving no preferred treatment to the rich.
BitcoinPoW
Brings Satoshi's vision back to life with a one node equals one vote system.
This is accomplished by transitioning to a Proof-of-Work (PoW) Proof-of-Transactions (PoT) algorithm that does work using transactions. Mining pools
are forced out of participation; this makes Bitcoin much more decentralized.
What got BitcoinPoW started?
"Bitcoin is no longer censorship-resistant, and mining centralisation endangers its security too. It's time to fix that."
but the reality is that the BTC devs have not found a solution.
BitcoinPoW is the solution
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Stability
- The same stable BTC code, but with Proof-of-SMART-Work and Proof-of-Transactions.
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Security
- PoW/PoT eliminates mining pools and is nearly impossible to 51% attack, this creates unsurpassed security.
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More Decentralized
- All wallets are forced to solo mine creating more decentralization. Satoshi's one node equals one vote system is now a reality.
The existing BTC network is controlled by about 5 mining pools. Satoshi never intended for this to happen. BitcoinPoW solves this issue.
The Future Failure
Bitcoin is highly mining centralized. Long time BTC developer Luke Dashjr has spoken on this issue:
"Bitcoin is no longer censorship-resistant, and mining centralisation endangers its security too. It's time to fix that."
but the reality is that the BTC devs have not found a solution.
BitcoinPoW is the solution
