TopicStarter: Bithereum Network –
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Bithereum Network: https://bithereum.network/#!/
PoU Blog: https://medium.com/bithereum-network/introducing-proof-of-uptime-7e91256aabf1
Bithereum (BTH) is a hard-fork of Bitcoin in combination with Ethereum's technological roadmap structured around a Casper-like PoS consensus model. A hard-spoon snapshot was taken of the Ethereum blockchain on December 12th to reward ETH holders with BTH. The network forked off of Bitcoin at block 555,555 and has been live as of January 5th. Prior to PoS, Bithereum is PoW and uses an Equihash 144,5 mining algorithm. More information can be found at our official ANN: https://bitcointalk.org/index.php?topic=4738533
The Bithereum Network is officially introducing a new concept called �Proof-of-Uptime�, or PoU. In every other PoW system, including Bitcoin and Ethereum, there is a misalignment of incentives when it comes to full nodes. Though running a full node is absolutely crucial to the success of the network in the first place, there is no model in place to incentivize this, relying on people to be ideologically attached to a project rather than financially incentivized in the way that every miner is.
In PoU, the amount each full node will be awarded with will be based on their node�s uptime; the higher amount of uptime a node has, the higher their reward payout will be, however even a minuscule amount of uptime will generate at least some reward.
Running a node in Proof-of-Uptime is also different than running a "masternode", as it doesn't require you to hold any BTH in order to get rewarded. You can run a full node holding ZERO BTH. However, holding some BTH will give you greater rewards than none. The amount of BTH you are holding in terms of BTH�s USD price will determine how much you can earn each week. Payouts will be issued once a week on the Friday of every week, unless noted differently by us.
Check out the blog for more details including the payout structure: https://medium.com/bithereum-network/introducing-proof-of-uptime-7e91256aabf1
If you need help with running a full node, check out https://bthfaq.com/ for a tutorial for doing so.
The official release for Bithereum can be found here: https://github.com/BTHPOS/BTH/releases.
*Note: The Referral system will be ready in the coming week or so and we will notify everyone and update this blog when it�s live. Directions for referring will also be posted.
Proof-of-Uptime will have a built-in system for referrals. Any individuals who have reached 100% sync status on their full nodes can refer other individuals to run a node. Upon 100% completion of syncing, both parties will recieve 1 BTH. There are a total of 10,000 BTH allocated for referrals, and rewards will continue to be distributed until this allocation is finished. Upon running the Bithereum Full Node Launcher, you will be given a unique key which will function as your referral ID. This key will be used by others who you refer to run a node. More details will be added here soon as to how to do the process correctly.
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