CryptoBullion (CBX) Announces PoSP Algorithm and Expansion into Chinese Markets
Bitcoin Press Release: Over 2 years old, CryptoBullion is pleased to announce an unprecedented Proof-of-Stake-Participation algorithm and expansion into emerging Chinese markets. Designed to be rare and valuable, less than 1 million CBX are in circulation, with a variable annual interest rate of over 2% for stakers.
FLORIDA, USA / July 29, 2015 / CryptoBullion (CBX), launched in June of 2013, is an exclusive cryptocurrency with less than 1-million units in circulation (21 times more rare than Bitcoin). CBX has successfully completed its distribution phase and has reached the planned stage where its money supply grows by 2% per year. This economically sound annual increase mirrors the supply fundamentals of precious metals, positioning CBX as the “platinum” alternative to Bitcoin’s gold, the “Digital” Precious Metal as it is known. It is how this 2% interest is distributed that sets CBX apart from all other cryptocurrencies.
Relentlessly striving to make CryptoBullion the most appealing cryptocurrency, Team CBX is dedicated to keeping CryptoBullion on the leading edge of cryptocurrency technology. In line with its mission, Team CBX has announced the start of development work on the innovative PoSP (Proof-of-Stake-Participation) algorithm to replace the existing Hybrid PoS/PoW. The implementation of PoSP (accompanied by a detailed technical white paper) will coincide with a new release of the ‘CBX Vault’ wallet software. This updated Vault will also feature chat functionality (via IRC) and a full Chinese translation set, as Team CBX is gaining interest from emerging Chinese markets with the assistance of their new Chinese liaison.
PoSP will maximize network security via a pay-for-work policy that operates using a highly energy efficient alternative to Bitcoin’s Proof-of-Work (PoW). PoSP will insure that a 2% annual interest rate is always paid to the network, regardless of how many CBX are being staked at any given time allowing for a considerably higher interest rate to be awarded to those staking their CBX (consistently running the CBX Vault software).
So what does this all mean for both the savvy and curious CryptoBullion investor, today, and in the future?
“These developments will galvanize a stronger and more united community while attracting new members through innovation. CryptoBullion will provide a low cost of entry and fair-pay-for-fair-work structure that is welcoming to any individual who desires to participate. Compensation will encourage decentralization by rewarding individuals to take control of their finances, while removing the paradigm of competition with mining farms and pools that have monopolized and centralized Bitcoin and other cryptocurrencies” – Team CBX.
PoSP version 1.0 and the new CBX Vault are projected for release in Q4 of 2015. CBX is currently priced at a very attractive rate, relative to its future potential, and available at several exchanges including Cryptsy.
To learn more please go to: http://cryptobullion.io/
To trade Bitcoin with CBX please go to: https://www.cryptsy.com/markets/view/CBX_BTC
For latest news follow CBX on bitcointalk: https://bitcointalk.org/index.php?topic=951753.0
Name: Chris ‘elambert’
City and Country location: Florida, USA