Bitcoin HD is a native cryptocurrency created on Bitcoin HD blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Bitcoin HD was mainly created to minimize the amount of energy consumed by the proof-of-work coins while trying to add new blocks of their respective coins to their own blockchain. By doing this, Bitcoin HD was created to become a proof-of-capacity coin. As a proof-of-capacity coin, Bitcoin HD was created to enable miners to be able to create new coins to the Bitcoin HD blockchain by simply sharing their free hard-disk space. By sharing their hard-disk space, miners only need to fill their computer hard-disk-drive with plot files that will be used to forge the block thus resulting in deadline value thus reward. The algorithm used to forge the block is Shabal256. After every 3 minutes, 15 BHD will be rewarded for every block found.
Bitcoin HD transaction
Bitcoin HD transaction takes place on the Bitcoin HD blockchain explorer based on block height and timestamp. Here is how the transaction looks like;
To view how the transaction takes place at Bitcoin HD blockchain explorer, simply follow the link below;
https://www.btchd.org/explorer/
Date Launched
Bitcoin HD was created and launched in 2018 with the main objective of making it become a proof-of-capacity coin where users share their hard disk space to create new coin to the blockchain. Bitcoin HD was also created to create and issue new tokens on its bitcoin HD network.
Founder Of Bitcoin HD
Just like the way bitcoin was created by unanimous users, Bitcoin HD came to be without the creator identifying themselves. The author from their white paper has identified themselves as 4142454647484a4b5054575a.His/her main objective for releasing the coin was to minimize the amount of energy used in creating other proof-of-work cryptocurrencies. The creator of this coin wanted to ensure that users can share the idle hard-disk space to mine the coin to its blockchain
Process of creating Bitcoin HD
Unlike cryptocurrencies like bitcoin and Ethereum which are proof-of-work thus are created through the mining process in the presence of power and internet when the miners are sharing their CPU or GPU computing power to validate transaction taking place on respective blockchains,, for Bitcoin HD, that is not the case, instead,Bitcoin HD was created to become a proof-of-capacity coin. It was also created to be released to its blockchain by sharing hard disk drive computing space instead of CPU and GPU. During its launch, 2.1 million coins were premined for development team while another 1.05 were mined to cater for operational team. The remaining 17.85 million coins of the total 21 million will be released through mining process where miners will be required to share their hard disk computing space instead of CPU and GPU. By sharing your hard disk drive computing space to validate transactions taking place on its blockchain, miners are being rewarded after every 3 minutes with block reward of 15 coins summing up to 7200 Bitcoin HD per day. The algorithm used to mine this coin is Shabal256.The miners will be required to plot a file on their computing hard-disk space The Bitcoin HD miners can either share their hard disk space as solo miners or can choose to join a mining pool. As a solo miner, the reward is very little compared to pool mining. I would, therefore, urge you to join pool mining to maximize your reward since the more hard disk space you share the more your earning. Here is how the mining process looks like;
If you want to start sharing your computing hard disk space to validate transaction on the network thus in return you earn Bitcoin HD, then you can join the mining pool from below;
Maximum ciculation of Bitcoin HD
Just like in bitcoin, for bitcoin HD, the maximum amount that is expected to be circulating in its blockchain should be 21,000,000 coins upon completion of its proof-of-capacity mining process. During its initial launch 2.1 million coins were pre-mined for the development team members while another 1.05 million coins were generated from blocks by miners through mining to the operational team. The remaining 17.85 million coins are the one to be created through the mining process by miners sharing their hard-disk computing space at the rate of 15 BHD every 3 minutes per block thus summing up to 7200 BHD coins per day. After every 4 years, the reward will keep on halving until all these remaining 17.85 million coins are been released by miners through sharing their free hard-disk computing space.Here is how the supply distribution of this coin looks like;
Bitcoin HD Price
Currently, 1 Bitcoin HD is worth more than $2.6 and its price is expected to increase over the next period of time. Bitcoin HD is being abbreviated as BHD
Converting my Bitcoin HD to other cryptocurrencies
To convert your Bitcoin HD to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Bitcoin HD to bitcoin or Ethereum.Here is a list of exchanges where you can easily exchange your bitcoin HD to your favorite cryptocurrencies;
https://www.btmx.com/
https://hk.coineal.com/
https://www.hotbit.io/
https://www.bithumb.pro/en-us
https://www.mxc.com
Storing my Bitcoin HD
To store your Bitcoin HD, you need a Bitcoin HD wallet. You can either store online or offline. To store your Bitcoin HD online you can download the wallet or can use other online wallet supporting Bitcoin HD such as exchanges wallets. To secure your Bitcoin HD from being stolen by hackers, you can download cold storage wallet like the Ledger Nano or the Bitcoin HD macintosh/windows/Linux wallet.
Transferring my Bitcoin HD to other Users
If you want to transfer your Bitcoin HD to another user, the two of you must have trust in each other. The trust should be the Bitcoin HD address provided for by the receiver while the sender must have the Bitcoin HD balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Bitcoin HD
If you feel that you need to learn more about Bitcoin HD cryptocurrency, then you can follow them on their site. Here is the link redirecting you to Bitcoin HD platform website
http://www.btchd.org/
Now that you know, I think that it is time for you to start earning some Bitcoin HD cryptocurrency by sharing your computing hard-disk space. The more hard-disk space you share, the more more your earning . If you feel that I should also own some Bitcoin HD for helping you to know about it then here is my Bitcoin HD address;
37eXPBZVg2bgRGWqyNEhFcmbTwgXrYGr2t
