4th-Gen Blockchain-Based BibleCoin Set to Launch Amid Deal with GNN
- The digital coin has a massive support of churches all around the world.
Singapore-headquartered financial technology startup BI FINTECH is all set to issue a cryptocurrency, called BibleCoin, based on the fourth generation of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.
However, before releasing BibleCoin to the market, the firm has plans to acquire South Korea-based Korea Framing Institute, which holds a security-related international patent for ‘integrated authentication system for authentication using single-use random numbers’. It is the primary technology on which the 4th generation blockchain of the firm is built.
Blockchain generations
In 2009, Satoshi Nakamoto first pitched the idea of a digital currency based on decentralized ledger technology. Thus, Bitcoin emerged as a coin based on first blockchain technology. However, in 2014, Vitalik Buterin introduced smart contracts based on the original blockchain technology. This unleashed the true potential of the decentralized technology and thus, it was termed as the second generation of the blockchain.
Despite the massive potential to revolutionize multiple industrial sectors, Ethereum has many technical shortcomings - the massive drawback of scalability for an instance. To overcome the issues with scalability and speed, many blockchain startups evolved the technology to introduce the third generation of the nascent technology.
However, the increasing number of attacks on the blockchain ecosystem forced the firms to think about upgrading the technology.
Korea Framing Institute’s Head of Research Hwang Soon Young said: “The patent, a 4th-generation crypto-related technology, will allow users to avoid 'hacking issues,' which have been troublesome for the distribution process of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and global crypto-exchanges.”
Marketing tactics
According to the issuing firm, BibleCoin is hugely backed by churches and Christian-related companies all over the world. The support of a massive following of such devoted group is a huge advantage for any project.
Moreover, BI FINTECH partnered with the global news platform GNN. According to the signed global publishing deal, GNN along with its global branches will promote the coin and its upcoming ICO.
Singapore-headquartered financial technology startup BI FINTECH is all set to issue a cryptocurrency, called BibleCoin, based on the fourth generation of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.
However, before releasing BibleCoin to the market, the firm has plans to acquire South Korea-based Korea Framing Institute, which holds a security-related international patent for ‘integrated authentication system for authentication using single-use random numbers’. It is the primary technology on which the 4th generation blockchain of the firm is built.
Blockchain generations
In 2009, Satoshi Nakamoto first pitched the idea of a digital currency based on decentralized ledger technology. Thus, Bitcoin emerged as a coin based on first blockchain technology. However, in 2014, Vitalik Buterin introduced smart contracts based on the original blockchain technology. This unleashed the true potential of the decentralized technology and thus, it was termed as the second generation of the blockchain.
Despite the massive potential to revolutionize multiple industrial sectors, Ethereum has many technical shortcomings - the massive drawback of scalability for an instance. To overcome the issues with scalability and speed, many blockchain startups evolved the technology to introduce the third generation of the nascent technology.
However, the increasing number of attacks on the blockchain ecosystem forced the firms to think about upgrading the technology.
Korea Framing Institute’s Head of Research Hwang Soon Young said: “The patent, a 4th-generation crypto-related technology, will allow users to avoid 'hacking issues,' which have been troublesome for the distribution process of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and global crypto-exchanges.”
Marketing tactics
According to the issuing firm, BibleCoin is hugely backed by churches and Christian-related companies all over the world. The support of a massive following of such devoted group is a huge advantage for any project.
Moreover, BI FINTECH partnered with the global news platform GNN. According to the signed global publishing deal, GNN along with its global branches will promote the coin and its upcoming ICO.