/biz/ - Business & Finance

SOURCE: https://www.reddit.com/r/0xbitcoin/comments/8s0mdq/0xbtc_community_update/

>>9819949
>other than 0xBTC

im mining 0xBitcoin

Everyone has their own opinion. Some people think EOS and NEO are better than Ethereum. You don't have to think 0xbitcoin is better than ETH because it is simply different. Here is how it is different :

1) Ether was ICOed (60m), 0xbitcoin was purely mined using PoW

2) Ether is meant to be a lifeblood for the Ethereum network, 0xbitcoin is purely built to be a medium of exchange / store of value

3) Ether is not a token, 0xbitcoin is a token and thus it interacts with smart contracts differently/better.

4) Ether has no cap, 0xbitcoin is capped to 21 million

Moving in to Bitcoin...

1) Bitcoin is not an ERC20 while 0xbitcoin is

2) Bitcoin does not interact with smart contracts at all, 0xbitcoin does, such as with all Decentralized Exchanges

3) 0xbitcoin will have upgraded speed and bandwidth as Ethereum upgrades, Bitcoin will not

4) Bitcoin has lightning. 0xbitcoin has Raiden

5) Both are proof of work mined using SHA3 and both are on extremely secure blockchains. On the outside, Bitcoin and 0xbitcoin interact with the world in extremely similar ways. You can store it, mine it, and transfer it. You can build on top of it.

0xbitcoin is just trying to be the best 'bitcoin for ethereum' and it sure seems better than any Bitcoin-like currency besides Bitcoin itself in my opinion.

I'd also argue that 0xbitcoin is in the same class as Bitcoin and Ether as a trustless decentralized currency, unlike 99% of tokens. This alone is quite remarkable. The fact that you even ask the question.

I personally love the idea of Bitcoin but I also believe the Ethereum Network is going to be much faster and much more powerful and so that's why I like 0xbitcoin. I have nothing against Ether and I like Ether but Ether is not like Bitcoin in that it is going to go PoS and just intended to run the network

>>9105363

>Autonomous decentralized currency
>SHA256 proof of work algorithm
>Automatic difficulty adjustment
>Works with Ethereum Smart Contracts

0xBitcoin (or 0xBTC) combines advantages from both Bitcoin and Ethereum. The asset is decentralized, permissionless, mined and scarce just like Bitcoin which means it shares all of Bitcoin’s use cases and properties as a transparent and permanent digital record of value. However, above Bitcoin, 0xBitcoin has the speed and scalability of the Ethereum network and is compatible with all ERC20 token services. This means it can be stored in any Ethereum wallet, is as secure as Ethereum, and can act as ‘the bitcoin’ for the Ethereum ecosystem. This is important because Bitcoin is not able to communicate with or interact with the Ethereum smart contract ecosystem.

https://0xbitcoin.org/

https://medium.com/@0xK/the-what-the-why-and-the-how-of-0xbitcoin-5c635fe2df6b