What Is BitcoinSoV (BSOV)?

What Is BitcoinSoV (BSOV)? Complete Guide Review About BitcoinSoV.

What Is BitcoinSoV (BSOV)?

BitcoinSoV is a 100% community-driven cryptocurrency, and does not rely on centralized decision makers or traditional power structures to survive. This deflationary grassroots movement is built from the bottom-up, and is fully reliant on people like you to build it. They use non-violent methods of action – they fight for financial independence, and freedom from inflation.

This is your entrance hub into the Smart City Platform. All software and services mentioned below, will be integrated into the portal. City Hub will be accessible from any device, including iOS, Android, and desktop computers through the City Portal app and website.

BitcoinSoV Storage Key Points

Coin BasicInformation
Coin NameBitcoinSoV
Short NameBSOV
Circulating SupplyN/A
Total Supply20,891,192
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Every BSOV transaction is destroyed forever

The 1% transaction burn makes the BitcoinSoV cryptocurrency deflationary by design compared to the original Bitcoin (BTC), therefore stimulating supply scarcity and reducing token velocity. You are penalized by sending your BSOV, so to avoid loss you are incentivized to hold the tokens instead. This deflationary mechanism may make BitcoinSOV better suited as a Store-of-Value (SoV). 

This is what will power the Smart City Platform, a new Proof-of-Stake (PoS) crypto-currency by the name City Coin. While the Smart City Platform is being built to integrate and run on multiple blockchains, this new blockchain will the be first and primary blockchain utilized by the Smart City Platform. New City Coins are produced through staking (PoS), which is something anyone who owns CITY can participate in.

Voluntary Proof-of-Commitment by the community

By using BitcoinSoV, the most committed token holders are able to timelock their BSOV to prove a high degree of commitment to the token holder integrity and longevity of the BitcoinSOV project. SovCube stimulates less sell pressure and more confidence in a cryptocurrency. The Smart City Platform will host a number of software and services, that makes the crypto-currencies and blockchain-technologies available to everyone.

Start mining BSOV with your graphics card

You can easily learn how to use your computer to compete for rewards by solving the never-ending computational problems provided by the ERC918 smart contract which BitcoinSoV is built upon. Mining is the only way to acquire BSOV, if you do not wish to buy it.

Proof-of-Stake blockchain

BitcoinSoV is what you use on the City Chain. It is the medium of exchange and payment for services on the City Chain, and the Smart City Platform. The City Chain is a Proof-of-Stake blockchain, making it more accessible to people without the need for hardware investements for mining. Instead of mining, you can decide if you want to use your coins for staking. As a staker, you provide a service to the community and the network, and receive staking award in the form of new coins for every block you are selected to stake.

Your chance to be elected for staking a block in the chain, depends on the amount of coins you are staking of the total network. You can buy coins from selected partners, and from exchanges. Always be careful with financial investments, and buying City Coin from any of the sites listed below, is at your own risk. Providers of City Coin is listed in no particular order. There might be other providers of City Coin, not listed below. Please let know if you want to be listed below.

Staking

With City Coin in your City Hub wallet, you can enable staking and receive a passive income by participating in the network. Staking is a form of cryptocurrency mining, but does not require a lot of computation power like Bitcoin does. You can run staking on your laptop if you want to. Stakers receive 2 City Coin for every block that is staked (used to be 20 City Coin up until block height 1 111 111).

The more BitcoinSoV you stake, the higher chance you have of being the one staking the new block. Approximately every minute a new block is generated, and the lucky skater that generates the block, receives 2 new City Coin. More coins staked, the higher chance of making the next block.