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Microbitcoin ICO Review

02-06-2019 08:26 AM CET | IT, New Media & Software

Press release from: DigiXHub

Micro Bitcoin is powered by the most scalable and advance Blockchain technology the power instant and private payments. Use Micro Bitcoin to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. Micro Bitcoin is open-source and accessible to all. With Micro Bitcoin, you are your own bank. Only you control and are responsible for your funds. Your accounts and transactions are kept private from prying eyes.

MicroBitcoin is a highly secure peer to peer decentralized MicroBitcoin cryptocurrency using the Script PoW/POS (Hybrid) Algorithm with a self-regulated financial system which allows users to earn MicroBitcoin through Mining, Staking and by buying with Bitcoin, Ethereum and Bitcoin cash during the pre-sale phase and then via BTC only once the main investment portal is live. A sophisticated method of difficulty that re-targets every block. This currency is like the Dollar, but it is only available in the digital world. The concept may sound like Bitcoin and is actually not much different from bitcoin. A total of 25.2 Million MicroBitcoin coins will be minted. This is done via natural supply and demand and through general market fluctuations the price will rise and fall accordingly, but obviously, the more the demand, the more the coin will rise in price, giving all those holding MicroBitcoin an incentive to Stake from their wallets 10% per year on average.

Vision
Microbitcoin vision is to create a cryptocurrency which gives high rewards to all users but stays alive after the high-POS phase and keeps on improving all the time. We truly believe that high-pos coins can have a future and that they are not damned to die soon as the high-pos ends.

Goals
Creating a strong and responsible community.
 Creating a high-pos coin with a clear future
 To achieve all our visions as set in the road map
 To create an environment to support the cryptocurrency and avoid future disputes.
 To make it open source and decentralized for its wide spread adoptions
 The users can be completely anonymous and don’t need to share their identity for their transaction or holding MicroBitcoin.

Technology
a. Proof of stake
Proof of stake, or PoS, is a type of Algorithm by which a crypto currency Blockchain network aims to achieve distributed consensus. In PoS based cryptocurrencies, the creator of the block is chosen via various combination of random selection of wealth or age. In contrast, the algorithm of proof-of-work based cryptocurrencies such s bitcoin uses mining; that is the solving of computationally intensive puzzle to validate transaction and to create new blocks.

b. Proof of Work
Proof of Work, or POW, is the original consensus algorithm in a Blockchain network. This algorithm is used to conform transactions and produce a new block to the chain. The miners compete against each other to complete
transactions on the network to get rewarded. A decentralized ledger gathers all the transactions on the block to the chain. The main working principle are a complicated mathematical puzzle and a possibility to easily prove the solution.

c. Scrypt Algorithm
In cryptography, Scrypt is a password based key derivation function created by Colin Percival. The algorithm was designed to make it costly to perform largescale custom hardware attacks by requiring large amounts of memory. In 2012, the algorithm was published by the IETF as an internet draft intended to become an informational RFC, but a version of Scrypt is now used as a proof of work scheme by cryptocurrencies like MicroBitcoin. Scrypt is a memory hard key derivation function, it requires a reasonably large amount of Random Ac-cess Memory to be evaluated. This makes implementation in special purpose custom hardware (ASICs) require more VLSI area, which would make it unprofitable tobuild for the purpose of mining Viacoins.

The requirement of Scrypt algorithm is a large array of pseudo random bits to be held in memory and a key that is derived from this. The algorithm is based on TMTO (Time-Memory Tradeoff). ASIC advantage in Viacoin is reduced by a factor of 10 compared to Bitcoin. Scrypt uses the following parameters to generate a derived key:
– Passphrase: String of characters to hash
– Salt: Random string provided to Scrypt functions
– N: Memory/CPU cost parameter
– P: Parallelization parameter
– R: Blocksize parameter
– dkLen: Intended length of the key derived key in bytes kd = scrypt(P, S, N, P, R, dkLen)

Overview
Micro Bitcoin is powered by the most scalable and advance Blockchain technology the power instant and private payments. Use Micro Bitcoin to make instant, private payments online or in-store using our secure open-source
platform hosted by thousands of users around the world. Micro Bitcoin is opensource and accessible to all. With Micro Bitcoin, you are your own bank. Only you control and are responsible for your funds. Your accounts and transactions are kept private from prying eyes.

Premine
The pre-mine coins will be used for ICO sales, bounties and airdrop for the community. The total pre-mine coins to be sold during the ICO will be 2,50,000.00 MBC

ICO
An initial coin offering (ICO) or initial currency offering, a type of crowdfunding using cryptocurrencies, is a means of raising capital for development and future improvements required to sustain the project and also promote the awareness of MicroBitcoin through different channels of efforts by the team.

Features of MicroBitcoin
The peer-to-peer payment system is electronic money transfers made from one person to another through an intermediary, typically referred to as a P2P payment application. P2P payments can be sent and received via mobile device or any home computer with access to the Internet, offering a convenient alternative to traditional payment methods. BitherCash has the built-in functionality of peer to peer payment that would facilitate the users to send and receive their earned amount directly into their e-wallets without having to worry about massive surcharges implemented on traditional payment methods. Peer-to-peer itself means BitherCash runs without having a central server. The storage server is decentralized and distributed-divided into various servers run
by each user connected to the network.

Roadmap
MicroBitcoin team has made its vision and path for future clear to support the network and the users participating in the community. We have planned and created our roadmap with aspects considering it to be the future of digital currency and decentralized.
Feb 2017 – Launch of the Idea
March 2017 – Implementation & Development of planned
April 2017 – Market Framework planned
June 2017 – Core Strategic Team with Executive team
August 2017 – Core Development team started development
December 2017 – Blockchain implemented on livenet
January 2018 – Pre ICO started
February 2018 – Marketing and PR
February 2018 – Test net implemented
February 2018 – Wallet Launch
June 2018 – Listing on Exchange
May 2019 – Support and Partnership use case
December 2019 – Integration with leading Hardware Wallet Provider
January 2020 – Launch of Debit Card

Team
Microbitcoin creation team has been in the business for many years. We have spent a considerable amount of our own time and money refining our site, both front and back end and our user interface to ensure we provide you with a working, easy to use a sustainable product that will be here for the long term. We are more than aware of the scams, the BS, and the likelihood of attempted attacks on our site. Our Dev team for MicroBitcoin are professionals in the space and have been in the industry for many years, so we know how to overcome this and still provide a working product to our clients

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