Beancash previously known as Bitbean is a decentralized cryptocurrency made with a purpose to
achieve lightning-fast transactions, speed, and scalability. It was designed to be the improved version
of Bitcoin. One of the main issues of Bitcoin is the scalability. Transaction fees are high, and the
process of making a transaction can take hours up to 2 days. The transaction fee of Beancash is 0.01
BEAN with a block time of 1 minute and 110 confirmations to maturity. Its token is called BEAN, and
there are 50 billion coins in supply. Beancash is the first cryptocurrency to apply a 20MB maximum of
a block size. It was first started in 2015 by Gavin Andersen. Gavin is a software developer, and after
Bitcoin‘s creator Satoshi Nakamoto left, he remained there as a lead developer.
Beancash applies Proof-of-Bean technology. POB sends SPROUTs rewards to people who provide
resources to the network. Holding BEANs in an active node forms SPROUTs. Proof-of-Bean
technology was implemented to replace the outdated Proof-of-work.

Comments