Microbitcoin (MBC) is a decentralized peer-to-peer payment platform aimed at use in microeconomics.
The Microbitcoin coin as of March 6, 2019 costs $ 0.000071, the daily trading volume is about 34 thousand dollars. An issue of 210 billion MBC coins is envisaged (10 thousand times more than the issue of bitcoin), which theoretically should facilitate the use as a means for micropayments. Currently, about 185 billion of them have been issued.
On March 6, 2019, microBTC took 1887th place in the coinmarketcap rating. In the future, after updating the network, attracting the attention of miners and crypto-investors, it is possible to improve the financial attractiveness of this cryptocurrency.
The largest trading volumes in MBC are held on the following exchanges:
In addition, in the near future, the MicroBitcoin team announced the entry to the BiteBTC exchange.
Who is developing the Microbitcoin cryptocurrency
The development of the Microbitcoin cryptocurrency using the principles of open source software is handled by a group of programmers, among whom the most famous person in the public domain is the pseudonym iamstenman.
Features of the Microbitcoin blockchain
Micro Bitcoin blockchain has the following main features:
- The coin was created on May 30, 2018 as a fork of the Bitcoin network on the 525,000 block. Its blockchain originally used hashing on algo Grøstl-512;
- From March 6 to September 7, 2019, the MicroBTC cryptocurrency used the PoW consensus algorithm with Rainforest hashing (before that, algo Dmd-gr was used), and from September 7, 2019 – Rainforest version 2.0;
- The Rainforest algorithm was created by Bill Schneider in order to avoid the influence of ASICs and
- FPGA devices on cryptocurrencies;
- Time between blocks – 60 seconds;
- The reward for a found block on the Microbitcoin network is 12500 coins;
- The maximum number of coins is 210 billion;
- Transaction time – 1-3 seconds;
Microbitcoin cryptocurrency mining
Microbitcoin cryptocurrency mining is performed using the PoW algorithm with RainForest hashing. It is a miner-friendly algorithm that allows you to mine Microbitcoin coins on GPU and processors.
What miners can be used to mine Microbitcoin cryptocurrency
Before transferring to the power2b algorithm, the Microbitcoin cryptocurrency could be mined using the following programs:
- Ccminer – for Nvidia video cards;
- Sgminer – AMD (macOS and Linux);
- Cpuminer– for mining on the processor (power2b algorithm is supported in version 3.9.9 and higher).
Microbitcoin batch file for mining coins in the ccminer program.
How to store cryptocurrency Microbitcoin
The following types of wallets can be used to work with cryptocurrency Microbitcoin (MBC):
- Magnum wallet
- Wallet for mobile devices on Android;
- Paper wallet (to create, click on the Create button);
- Web-based wallet (online wallet)
Cryptocurrency Microbitcoin is an interesting project that raises many questions related to those involved in its development and financing.
The transition to a new algorithm and the associated social activity have attracted some attention to MBC coins from miners and investors, but whether this dynamics will be retained is a big question.
The ease of obtaining MBC coins with the current complexity of the network makes it possible to replenish the collection of miners with thousands of new coins. But the question of whether they will increase (or at least preserve) their value in the future is quite interesting and ambiguous …