Beetlecoin

Beetlecoin
Ticker symbol	BEET
Coins	Open source peer-to-peer digital currency
Development
White paper	http://www.beetlecoin.io/wp-content/uploads/2018/02/WP_BEETLE_1_1_c.pdf
Development status	active
Operating system	macOS, Microsoft Windows, ; GNU/Linux
Source model	Open source
Website	https://beetlecoin.io/
Ledger
Hash function	Scrypt-based
Block time	2 minutes
Block explorer	https://altmix.org/coins/62-BeetleCoin

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Beetlecoin

Beetlecoin (code: BEET) is an open source decentralized project which provides instant and low transaction fees all across the globe via its network. Everyone is invited to take part in the project by either mining the coin or staking it.

The coin aims to implement a blockchain which is optimized specifically for use cases such as those connected with an environment whereby bringing in positive change to the society we live in.

Beetlecoin aims at raising funds to support current environmental issues that we are battling with. All these funds will be on an open ledger and the community will have full access to all the transactions.

Specification

Much like any other cryptocurrency, Beetlecoin is based on a public ledger system called blockchain. Beetlecoin is POW/POS/Masternode coin with Scrypt as its hashing algorithm. It has a max supply of 500,000,000 with a block time of 2 minutes and maturity of 12 hours. It also has a premine of 3.2%. It uses Darksend concept to send payments which makes the transaction anonymous, ie, in other words, it prevents people from trying to track coin movement.

Rewards Info

Rewards for this coin are distributed as follows-

POW

[2-500] = 500 BEET
[500-10000] = 300 BEET
[10000-50,000] = 200 BEET
[50,000-300,000] = 100 BEET
[300,000-600,000] = 50 BEET
[600,000-1,000,000] = 30 BEET
[1,000,000-3,000,000] = 25 BEET
[3,000,000-6,000,000] = 15 BEET
[6,000,000-10,000,000] = 10 BEET
[10,000,000-INFINITE] = 5 BEET

POS (Starting with block 1000)

[1,000-25,000] = 1,500 BEET
[25000-50,000] = 1,250 BEET
[50000-100,000] = 1,000 BEET
[100,000-500,000] = 750 BEET
[500,000-1,000,000] = 500 BEET
[1,000,000-1,500,000] = 250 BEET
[1,500,000-3,000,000] = 125 BEET
[3,000,000-Infinite] = 50 BEET

Masternodes

Collateral: 50,000 BEET
Reward: 75% masternode owner, 25% staker

Wallets

Your Own Personal Bank

Beetlecoin wallet is used to store, send and receive Beetlecoin. All addresses are generated with a private key which can be used to reveal wallet contents and a public key which must be used by the payer to send Beetlecoin to the payee's wallet. The public key is a unique identifier of 26–34 alphanumeric characters and is commonly known as one's address. Beetlecoin wallets are available for Windows, Linux and macOS operating systems.

RoadMap

Beetlecoin team has laid down a few set goals and is constantly working towards its achievement.

A quick glimpse can be found here.

Masternode Setup

Hot/Cold Wallet

For hot/cold Masternode wallet setup, one can refer to the document listed here.

Windows Wallet

For Windows Masternode wallet setup, one can refer to the document listed here.

Exchanges

Currently, Beetlecoin is traded at the following crypto exchanges-

Goals and Objectives

With the rapid growth in Cryptocurrency over the last few years, it has started posing a threat to our society as more and more mining farms are being deployed quite frequently. The energy consumption and heat that's generated is for sure posing a threat to our environment and natural resources.

Beetlecoin aims at -

Establishing a partnership with various reputable non-profit organizations or an environmental institution.
Raising funds for environmental projects.
Raising awareness about environmental issues.

As a community, Beetlecoin will-

Evaluate which of the environmental areas need contribution.
Reach out to the chosen reputable organization to convey their interest to support an environmental cause.
Be raising funds either through various competitions or via direct approach appealing to the community.

Current Project

The team is currently raising funds to support the victims of Guatemala's Fuego volcanic eruption. As of writing this article the team has already raised 517553.9475 BEET of 600,000 BEET.

References

Beetlecoin

This article "Beetlecoin" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Beetlecoin. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.