Bitindi Chain (Bitindi). What is it about? Discover its features, the advantages offered to its users and its official website.
Bitindi Chain (Bitindi) is a decentralized, high-efficiency, and energy-saving layer-1 public chain. It is compatible with smart contracts and supports high- performance transactions. The endogenous token of Bitindi is $BNI and it adopts the BPoS (POS) consensus mechanism. Bitindi will continue to onboard billions of users to ultra-fast transactions, tiny fees, easy-to-use apps, and is environmentally friendliness.
Bitindi Chain, introduction
The Bitindi Network (BITINDI) is a fast, secure and scalable blockchain and network, capable of handling millions of transactions per second if necessary, and both user-friendly and service provider-friendly.
A highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy.
The goal is to be able to host all reasonable applications currently offered and designed. One could think of Bitindi as a huge distributed supercomputer, or rather as a huge super server designed to host and provide a variety of services.
Technological innovation is the driving force behind the advancement of the blockchain industry, but many innovative projects have been misunderstood and ignored at their early stages. We have witnessed the growth process of great projects. Recalling that Ethereum and Polkadot were questioned as altcoins in the early days, they all went through difficult times. Therefore, Bitindi’s mission is not only a public chain, but also to focus on the discovery and support of high-potential developers and innovative projects. Relying on the world’s largest trading ecosystem, Bitindi is committed to becoming the birthplace of innovative technologies and innovative businesses, and building a complete ecological loop of technology development, application promotion, and trading using open source projects.
The optimal approach to blockchain sharding needs to take into consideration the advantages of all three sharding types: State, Transactions & Network. All three sharding types into a solution that improves communication inside the shards and dramatically increases performance through parallel processing.
Proof of stake (BPoS)
Bitindi has proposed a novel approach to consensus called “Bullet Proof of Stake” which eliminates PoW computational waste and combines eligibility through stake and rating with random validator selection, and an optimal dimension for the consensus group. The BFT-like consensus protocol maintains a high-security level through random sampling of the consensus group, and random reshuffling of nodes into other shards. The consensus uses an unbiasable randomness source generated by the block proposer via signing the previous random source.
The BNI token will be the unit of value that is native to the Bitindi network. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide.
The $BNI coin is an integral unit of account in Bitindi Chain. The Bitindi Chain Foundation issued exactly 50 million BNI in Oct, 2022.