I'm always on the lookout for new crypto projects, especially those that can potentially change the way we do things generally.
In my search, I have discovered Bitcherry, a very innovative platform, and in this post, I'll explain what bitcherry is in simple terms, because the technology they implement is quite revolutionary, and therefore quite complex.
What is Bitcherry?
According to the site, BitCherry is the world's first commercial scalable blockchain infrastructure based on IPv8 technology. It is a decentralised blockchain based infrastructure which empowers commercial applications. The Bitcherry project is mainly focused on the commercial side of the blockchain, as we'll see in the remainder of this article.
This means a lot of things, as the Bitcherry team is the first to achieve this feat. Scalability issues are common with most crypto projects, but Bitcherry has managed to conquer them, and we'll see how later in this post.
The Bitcherry platform is comprised of three main characteristics:
- Data security
- Efficient performance
- Consensus governance
We will look at these three characteristics in detail in the next few lines.
This is a very important part of any project's life, and it is nice to see that Bitcherry takes it very seriously. Data security is simply how well a project is able to protect users information from attackers. The crypto space is defined by its love for decentralisation, but in the event where certain user data cannot be done without, it is important to secure said data. And Bitcherry does that extremely well. There are a lot of complex parts to how it is done, and I assume that most of you probably aren't up for a read where you have to have your dictionary next to you. So I'll leave a link to the white paper here for anyone who is a techhead.
This is equally part of the characteristics of Bitcherry, and an equally important one at that. Efficient performance implies a project's ability to still function normally under extreme stress such as an influx of users or a big price dump(in the case of exchanges).
Bitcherry has this secured with a complex system that allows the system to work efficiently whilst under greater than normal usage. This also includes the ability to scale properly, which Bitcherry also covers extensively.
Everyone in the crypto space should be familiar with what consensus governance is, but for those new to the space, consensus governance is a type of system in which users, usually called "masternodes", are allowed to take part in the decision making that happens on the platform. For users to do this, they must hold certain amounts of the platform's token.
This system of governance allows users to decide what features would be best to be added to the service, and what features would probably cause more harm than good. They can also up security like that, as well as further decentralise the system.
Having known this, what then are the special features of Bitcherry that make it appealing to new users?
- Bitcherry applies some operational mechanisms such as smart contracts and a cross chain consensus system. This makes the system a lot more secure than usual, and also allows easy scaling of the project. It also reduces development costs.
- It offers very unique services such as supply chain finance, asset digitalisation, e-commerce, distributed cloud computing and many more.
- Bitcherry plans on using its infrastructure to continue the development of the blockchain baded commercial space, which I believe will blow up soon.
THE BITCHERRY TOKEN, BCHC
As is necessary for every blockchain based project, Bitcherry has developed its own token, BCHC, which will be used to carry out certain tasks in the ecosystem.
It can be used to cover incurred fees on the ecosystem, and must also be held by any users who wish to participate in governance. There are also plans to include this token as an incentive system for users, where they might get rewarded in BCHC for doing certain tasks.
The token is also used as a payment system for external business co-operations, which is amazing because of the active use of the token by outside businesses. This token certainly has great intrinsic value.
The token is limited to 10 billion tokens in value, after which no more would be created. This is great, as it will improve scarcity of the token as the available supply gets soaked up, which will in turn increase price of the token.
The token currently is ranging between 0.08 and 0.1 USD, which I think is a great price for such s promising token. If you wish to buy it to hold for when it eventually runs hard, you can buy it here.
The token is supported by Trust wallet as well, which means it is of quite high standard. You could also try out the in-house wallet here.
WHAT ARE THE ADVANTAGES OF BITCHERRY?
One-stop Blockchain Solution
① Innovative definition of ‘Blockchain +’
The world's first underlying encrypted protocol based on IPv8. Achieving high-speed
interconnection, while realizing point-to-point information encryption and ensuring the privacy
and security of user data during the interaction process.
② High Performance-Comparable to ‘Central Server’
The adoption of ‘Hash Relationship Spectrum In BitCherry core data structure makes it
possible for the TPS of a public network reaches up to 100,000 + , which is far beyond
③ Highly-Secure Consensus Algorithm
aBFT is a completely asynchronous & efficient distributed consensus algorithm which is
mathematically proven strictly. It can ensure equal rights of BitCherry super nodes and
effectively prevent network attacks as well.
④ Fair & Equitable Incentive Model
To perfect the incentive system of aBFT consensus algorithm, BitCherry uses Bit-U incentive
system, consisting of 5 dimensions.The more the user completes the more incentives the
user will get.
⑤ Friendly Deployment Environment for developers
BitCherry’s comprehensive developing tools are friendly to developers: mainstream
programming languages, supporting resource coordination, etc. Developers can also make
their learning curves smoother while reducing development costs.
⑥Community Ecology accelerate application realization
Developers & global partners of BitCherry have huge use bases globally. So in terms of
technical support and strategic advisory, BitCherry will empower companies to realize
blockchain converting processes from 0 to1.
That's it about Bitcherry. What do you think about the project? Is it a cool idea to marry blockchain and commerce? Is the token underpriced? Let me know down below!
Thanks for reading.