Bitone Network is a platform based on blockchain technology, which has a transaction and movement verification system called Participation Test (PoS) that indicates that a person can extract or validate transactions in blocks according to the tokens or in this case the nodes you have.
The Bitone protocol has been developed so that only 50,000 tokens or network nodes are generated (Bitone node). So PoS would be a way to encourage the owners of Bitone node to help the security of the platform by avoiding double spending, Sybil attacks, verifying transactions and movements.
The nodes would be the miners in charge of helping the development of the chain of blocks, since without their consent by majority the operations between users would not be valid.
Bitcoin mining uses a different system for bookkeeping chain blocks called test work (PoW) on which computers around the world compete with each other using computational power to solve problems and find blocks.
With PoW the probability of finding a transaction block an receiving the corresponding prize or commission is directly proportional to the number of tokens or in this case nodes that one has accumulated (in a wallet connected to the network).
In theory, as those who own more units of nodes based on PoS are especially interested in the survival and proper functioning of the network that gives the value to these nodes, they are the best suited to bear the responsibility of protecting the system from possible attacks. That is why, the protocol rewards them with a lower difficulty to find blocks inversely proportional to the number of nodes that they demonstrate to possess.
One of the main advantages cited by supporters of PoW is that this system could obtain a degree of security for the network at least equivalent to thas obtained by PoW but with a much lower energy expenditure.
When an investor buys a Bitone node token, what he is really buying is the ownership of a decentralized database account unit that allows him to run a node in the Bitone Network
These tokens can use them to:
- Speculate with them in the market. Investors from all over the world will be able to buy/sell Bitone node once they are listed on the exchange houses.
- Participate in the security of the network. Users who own Bitone node will use a specific wallet to do PoS on their computers in exchange for commissions. In addition, they will be able to receive dividends from the small tariffs that users pay when they carry out operations with the Bitone Network platform.
- Voting or consensus for the government system. Bitone Network will be a decentralized platform as well as its governance system. Users who own Bitone node will be able to vote, delegate or propose related proposals for the development of the platform in a manner totally proportional to the number of nodes they have.
Investing in Bitone node would be the equivalent of buying shares of a company in the traditional system with their respective dividens, except that with this protocol based on blockchain technology, a central trust entity that guarantees the ownership of its assets is not necessary, actions, since the decentralized network itself would be in charge of securing the possessions of the nodes and managing the commissions.
A Bitone node is a token issued by the Bitone Network protocol that allows its owners to run a node in the network of their blockchain in order to help their security in exchange for commissions
Bitone node is divisible up to 10 million units, so an investor could buy up to 0.00000001 Bitone node but could only use that amount to speculate with it since it would be necessary to have a complete unit to run a node.
Like Whatsapp, Facebook and Google formed their monopoly, if we get to position ourselves first in the market, Bitone Wallet would be used exclusively by users and companies around the world for usual operations related to cryptoactives.
If this were the case, Bitone node capitalization could be revalued by one, a thousand or ten thousand times its current value, as Ethereum, Ripple, Litecoin, Neo, NEM, Dash, among others; and the sharing commissions that Bitone node owners could receive could be very high.
However, although the Bitone Network team is committed to working very hard to meet its objectives, it is the team´s responsibility to warn investors that they sould go beyond the headlines and euphoria to undertand the risks associated with investments in cryptoactives. The recent fluctuations and speculations in this type of investment can easily tempt innocent buyers to rush into an investment that they may not fully understand. Cryptoactives and investment tied to them are high risk products with an unproven history and high price volatility. Combined with the high risk of fraud, investing in them should be people who know this technology very well.