Quantcast
Looking For Digital Gold? Introducing Bitgesell - A Perfect Store of Value
  • About
  • Contact
  • Content Policy
  • Partners
JOIN TELEGRAM
BlockNewsAfrica
Advertisement
  • Home
  • Resources
  • Countries
    • Nigeria
    • South Africa
    • Ghana
    • Kenya
  • Buy Bitcoin
    • Buy Bitcoin in Nigeria
      • Luno
    • Buy Bitcoin in South Africa
      • Luno
    • Buy Bitcoin in Ghana
      • Ebitcoinics
    • Buy Bitcoin in Kenya
    • Buy Bitcoin in Cameroon
    • Buy Bitcoin in Africa
  • DeFi
  • P2P Trading
  • Earn Bitcoin
No Result
View All Result
  • Home
  • Resources
  • Countries
    • Nigeria
    • South Africa
    • Ghana
    • Kenya
  • Buy Bitcoin
    • Buy Bitcoin in Nigeria
      • Luno
    • Buy Bitcoin in South Africa
      • Luno
    • Buy Bitcoin in Ghana
      • Ebitcoinics
    • Buy Bitcoin in Kenya
    • Buy Bitcoin in Cameroon
    • Buy Bitcoin in Africa
  • DeFi
  • P2P Trading
  • Earn Bitcoin
No Result
View All Result
BlockNewsAfrica
No Result
View All Result
Home Sponsored

Looking For Digital Gold? Introducing Bitgesell – A Perfect Store of Value

BlockNewsAfrica by BlockNewsAfrica
June 12, 2020
in Sponsored
0
Looking For Digital Gold? Introducing Bitgesell – A Perfect Store of Value
  • Save
Share on FacebookShare on Twitter

“Digital gold” has become a very popular phrase since the creation of bitcoin and the concept of using it as a store of value. However, bitcoin may not meet the criteria as compared to Bitgesell, a new cryptocurrency project.

Bitgesell is an innovative cryptocurrency project equipped with practical applications that offer a more attractive proposition to miners, holders, and users of crypto.

Despite being the first of all cryptocurrencies, Bitcoin’s infrastructure and ecosystem are still ridden with problems that do not fit the digital gold model.

Some of these issues include excessive computational energy, dwindling mining rewards, and elongated scarcity.  

The bitcoin network is such that miners are at the heart of ensuring the functionality of the blockchain. The mining process has become institutionalized due to the excessive requirements, making it a feasible venture for a select few. At the time of writing, mining in bitcoin is not as decentralized as expected and is not an option for earning income for many.

Further, the mining reward that serves as an incentive for people to mine and keep the network healthy is dwindling slowly, making it less profitable. Despite the fact that some miners will always remain and transaction fees will provide some form of reward, most miners might fall off.

Other innovations in the space like lighting network and segwit might also decrease revenue from transaction fees. 

Another celebrated feature of bitcoin and one of the reasons why it is labeled as digital gold is scarcity. However, bitcoin’s scarcity model is slow, reaching zero in 2140. For the next 120 years, there will still be a constant supply of bitcoin.

Bitgesell, on the other hand, provides a better economic model, worthy of the tag digital gold, as inflation is controlled and happenings over a shorter period, miners receive better rewards alongside a coin burning cycle.

Bitgesell Specifications

  • Block Weight: 400,000 (10x smaller than Bitcoin)
  • Halving interval: 210000 blocks/4
  • Total supply: 21,000,000

Bitgesell sets a higher transaction cost that serves better utility for a project that represents digital gold. A higher transaction cost provides an incentive for people to participate in network protection and also means that only large amounts of coins are moved at once.

Ensuring that miners maintain profitability is important in guaranteeing network security and strength. With a faster mining cycle scheduled to end in a few years, miners on the Bitgesell network will still be incentivized to confirm transactions, unlike that of Bitcoin.

Bitgesell burns 90 percent of all transaction fees to reduce the number of coins in circulation further. Burning in cryptocurrency refers to the process where coins are permanently removed from circulation.

Burning tokens decreases the supply of Bitgesell while demand remains in place, which will contribute to positive market sentiments in the long run.

What’s more, Bitgesell mining rewards halve every year instead of Bitcoin’s 4-year cycle. A feature that Head Developer, Emma Wu says will lead users to experience the future of bitcoin before it happens.

Bitgesell can be perceived as a future of bitcoin, because of its smaller block size, how segwit extension would be developing (lightning network) and due to halving occurring each year, only after 2-3 years we will witness the future of bitcoin, not having to wait for 11 years.

Finally, the Bitgesell network addresses scalability issues that have been a major worry for users of most cryptocurrencies like Bitcoin and Ethereum. Bitgesell has implemented the segwit protocol fully to enable swift transactions on the blockchain.

With a well-planned inflation structure that ensures that the supply and dynamic metrics mimic that of gold or a scarce asset, Bitgesell is a cryptocurrency to consider for your investment portfolio. You can buy and sell Bitgesell on the HotBit exchange registered in both Hong Kong and Estonia. 

For more details on Bitgesell, check out the project website https://bitgesell.ca/.


This is a sponsored article.(Read our sponsored article policy).

  • Save
Tags: BitgesellCoin BurnDigital GoldGold
Lofi DeFi Lofi DeFi Lofi DeFi
Previous Post

E-wallet.io: A New Approach To Wallets That Rewards The User

Next Post

How To Buy Ethereum In Ghana – The Ultimate 2020 Guide

BlockNewsAfrica

BlockNewsAfrica

BlockNewsAfrica is a Ghanaian based media company that will provide information and data on the developments in the cryptocurrency and blockchain technology industry on the African Continent.

Related Posts

BuyBSV.com Now in Seven New Countries
  • Save
Sponsored

BuyBSV.com Now in Seven New Countries

by BlockNewsAfrica
March 9, 2021
Umi Blockchain Ecosystem: Instant Transfers, Smart Contracts And Profitable Staking
  • Save
Sponsored

Umi Blockchain Ecosystem: Instant Transfers, Smart Contracts And Profitable Staking

by BlockNewsAfrica
November 27, 2020
The Difference Between Spot and Contract Trading 
  • Save
Sponsored

The Difference Between Spot and Contract Trading 

by Kojo Owusu
November 20, 2020
Imining PRO LTD – Earnings on cloud mining
  • Save
Sponsored

Imining PRO LTD – Earnings on cloud mining

by BlockNewsAfrica
November 14, 2020
How to Sell Bitcoins in Nigeria with Velocity on Jackocoins
  • Save
Sponsored

How to Sell Bitcoins in Nigeria with Velocity on Jackocoins

by BlockNewsAfrica
October 29, 2020
Next Post
How To Buy Ethereum In Ghana – The Ultimate 2020 Guide
  • Save

How To Buy Ethereum In Ghana – The Ultimate 2020 Guide

Things You Should Read

binance-coin-bbn-blocknewsafrica
  • Save

What is Binance Coin (BNB)? – Definition, How To Buy and Store BNB

September 18, 2020
THUGS.FI Raises 2500 BNB and Launches Successfully on Binance Smart Chain
  • Save

THUGS.FI Raises 2500 BNB and Launches Successfully on Binance Smart Chain

October 10, 2020
what-is-ftx-blocknewsafrica
  • Save

What is FTX Token (FTT)? – Definition, How To Buy and Store FTT

September 18, 2020
How To Buy Bitcoin in Africa
  • Save

How To Buy Bitcoin in Africa

April 15, 2020
Facebook Twitter Instagram Youtube
BlockNewsAfrica

Cryptocurrency and blockchain news by Africa for Africans: We provide the latest news, updates, and developments from the African continent.

Find Tags

Algorand Binance Binance Coin (BNB) Binance P2P Binance USD Bitcoin (BTC) Bitcoin ATMs bitfxt Blockchain Blockchain and AI Africa Conference Bundle Buycoins Africa CryptoLocally DASH Earn Crypto eBitcoinics ERC 20 Ethereum Exchanges Fiat-On-Ramps FLASH FlashCoins Ghana Cedi ICE3X Jobs Litecoin LocalBitcoins LocalCryptos Luno Mobile Money NaijaCrypto Naira (NGN) P2P Exchange P2P Trading Paxful Privacy Quidax Remitano Ripple Tether USD Trading Tron (TRX) Twitter VALR YellowCard

Disclaimer: Information like articles, reviews, and tutorials found on BlockNewsAfrica is not investment advice. You are encouraged to do your own research (DYOR) before making any important decisions. You can always refer to our content policy.

© 2020 BlockNewsAfrica - Your ultimate African cryptocurrency companion.

No Result
View All Result
  • Home
  • Resources
  • Countries
    • Nigeria
    • South Africa
    • Ghana
    • Kenya
  • Buy Bitcoin
    • Buy Bitcoin in Nigeria
      • Luno
    • Buy Bitcoin in South Africa
      • Luno
    • Buy Bitcoin in Ghana
      • Ebitcoinics
    • Buy Bitcoin in Kenya
    • Buy Bitcoin in Cameroon
    • Buy Bitcoin in Africa
  • DeFi
  • P2P Trading
  • Earn Bitcoin

© 2020 BlockNewsAfrica - Your ultimate African cryptocurrency companion.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Share via
Facebook
Twitter
LinkedIn
Mix
Pinterest
Tumblr
Skype
Buffer
Pocket
VKontakte
Xing
Reddit
Flipboard
MySpace
Delicious
Amazon
Digg
Evernote
Blogger
LiveJournal
Baidu
NewsVine
Yummly
Yahoo
WhatsApp
Viber
SMS
Telegram
Facebook Messenger
Like
Email
Print
Copy Link
Powered by Social Snap
Copy link
CopyCopied
Powered by Social Snap