BitGesell represents a deflationary cryptocurrency that closely resembles bitcoin, but comes along with a few design changes. Its value proposition stems from Silvio Gesell’s financial market philosophy, who imagined monetary units that lose their value over time through demurrage. To keep things simple, BitGesell achieves scarcity through the means of accelerated block reward halvings and […]
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When Bitcoin emerged in 2009, the original vision was to solve the problem of peer-to-peer transactions on a global scale without intermediation. But as simple as the concept sounds, the original Bitcoin code may not have accounted for certain economic and technical overhead. For example, when there are a lot of transactions on the network, they result in a surge in fees and congestion, thereby defeating the objective of speedy transactions when compared to legacy solutions. As a matter of fact, a recent report suggested Bitcoin’s fees surged by as much as 2000% in the first five months of 2020.
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