Bitcoin Virtual Gold BVG
November 14, 2018
DescriptionBitcoinVG is developed to provide more decentralization via the Proof of Transaction (PoT) feature. It is always synched to the latest Bitcoin release while adding the PoT feature ensuring 100% Bitcoin code quality. BitcoinVG improves upon the mining centralization problem faced by the crypto community over the last decade. The last statement above is what really makes the difference between PoW and PoT. BitcoinVG combines PoW and PoT together to form the ‘work’. We have seen that there is an additional benefit to adding PoT to the metric calculation. This paper will be submitted to the Bitcoin Core team as a possible Bitcoin Improvement Proposal (BIP). No matter the outcome, BitcoinVG’s support of the PoT metric makes for a more protected Bitcoin from potential 51% attackers.