BITCOIN AIR PROJECT-CARBON EMISSION REDUCTIONS THROUGH DECENTRALIZED

sky10net (7)in #sky10net • 6 years ago

INTRODUCTION:

Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money. Users send payments by broadcasting digitally signed messages to the network. Participants known as miners verify and timestamp transactions into a shared public database called the block chain, for which they are rewarded with transaction fees and newly minted bitcoins. Conventionally "Bitcoin" capitalized refers to the technology and network whereas "bitcoins" lowercase refers to the currency itself. Bitcoins can be obtained by mining or in exchange for products, services, or other currencies.

EXPLANATION VIDEO ABOUT BITCOIN

In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called: BITCOIN AIR

WHAT IS BITCOIN AIR?

Bitcoin Air is a bilateral dual-chain blockchain developed to deliver a means of indirect carbon emission reductions through decentralized, trust-less merchant/consumer interactions.

Bitcoin Air plans to reduce carbon emissions through the development of a dual chain volatile/stable coin pair dedicated to creating the most versatile and scalable solution for merchant and consumer use.

Merchants will be able to transact in cryptocurrency without the worry of profit loss due to fraud or technical issues within their conventional credit card processing equipment. Consumers will be able to transact in a multitude of ways including in person, over the web, or via AirCash Physical Currency!

Bitcoin Air was based on the idea that furthering the growth of an economic environment should do it's best to reduce negative impact in the space that is utilizes as much as possible.

Through the backing of Carbon Credit Assets, and the strategic goal of reducing emissions through routine actions as simple as shopping at you local supermarket, Bitcoin Air plans to create the first environmentally friendly form of currency, that returns the power of health, wealth, and governance back to the consumers and merchants of the world.

ABOUT BITCOIN AIR

The technology behind the Air Protocol was based on the idea of an off chain decentralized reserves system that could maintain the end value of a merchants earnings, while producing indirect impact on the environment in a positive way. Throughout our analysis of cryptocurrency, volatility has come to be the largest issue. This is largely caused by market manipulation and in hand aided by low adoption, no regulation, and failed attempts at reserve systems. Bitcoin Air will defeat all of these issues by ultimately providing both a decentralized payment system and a decentralized reserves system that can operate 100% trust free and decentralized from any central power.

Bitcoin Air will start with a limited circulating supply that will vary based on the minting and burning of coins through the Air Protocol. Two bilaterally operating chains will be interacting with each other through consensus nodes that will come to an agreement on whether or not the burn/mint process can be pushed while ensuring a number of factors are in line before validating it on the network. This action, called off chaining, will occur by a consumer using the “spend” protocol or “swap” protocol initiating a burn of supply, and an immediate minting of exact USDAP on the side chain. This side chain will maintain a static value based on the amount of USDAP available through the off chaining process. The circulating supply of Bitcoin Air will lower along with the available market cap, maintaining the value of each share on the volatile chain. This will allow merchants and small businesses to “side chain” their value if they would prefer not to fall victim to market health.

Utilizing Bitcoin Air’s unique Air Protocol technology, users can choose to off chain the value of their Bitcoin Air, immediately locking in the USD value in relation to Carbon Credit Asset Backing. Our off chaining capability will preserve the USD value of any burned coins in USDAP (USD Air Protocol) through a bilaterally operating side chain that will gain it’s supply through the action of off chaining your Bitcoin Air to USDAP. Maintain peace of mind knowing that the value of your Bitcoin Air is securely guarded by the Air Protocol.

Bitcoin Air will focus on ensuring even the newest member to cryptocurrency has an easy, efficient way to utilize it for basic business function. Bitcoin Air will utilize a lot of the currently available technology including; Segregated Witness, Lightning Network, and Atomic Swap. This will expand into our off-chaining and onchaining features that will ultimately be implemented into the Air Protocol to secure the value of a users coins. Initially beginning with a full-node desktop application and basic exchange support, the earliest adopters will gain the early know-how to operate a full-node staking wallet that will allow them to gain a small reward for providing their resources towards consensus. The main development will focus on mobile and tablet applications for our consumer and merchant protocols. Our approach will include a full fledge portable-use application that will allow any user or business to operate via a clean and modern point-of-sale approach. These point-of-sale applications wouldn’t utilize the send/receive feature and would instead utilize the “spend/burn” feature upon a user transacting with a business. This operation would happen by a user choosing the wallet and setting it to the spend feature. This would then allow them to scan the QR code shown by the merchant point-of-sale, ultimately deducting the required amount from the wallet and operating the “spend/ burn” feature that would then offchain the value to USDAP within the merchants wallet, keeping it safe from the volatility of the market.

During this operation, the market cap and circulating supply would drop collaboratively, maintaining the value of every other users Bitcoin Air. The merchant could then burn there USDAP into Bitcoin Air whenever they would feel like doing so without effecting the price of another users Bitcoin Air during the burn/mint process.

BITCOIN AIR MISSION

Bitcoin Air mission: is to design and produce the first viable attempt at tackling the key issues associated with cryptocurrency, small business and environmental risks at hand today. By producing the first Carbon Credit Asset-Backed Dual-Chain Blockchain, Bitcoin Air leads the way in pioneering the adoptability, scalability, and overall benefits of using the Blockchain. Combining this technology with Green Initiatives and a viable means of Asset-Backing, Bitcoin Air creates the first Living Ecosystem dedicated to reducing the Human Footprint, lowering the cost of living, and increasing the overall quality of life.

BITCOIN AIR VALUE

Bitcoin Air values transparency, security, integrity, and power to the people. We feel any and all decisions guiding a communities path should be up to the people themselves. The only thing we should ever ensure is the security and well-being of our community. This in turn brings us to our value of integrity. Ensuring that we are transparent with you all and maintain the same truths to ourselves as we do you our people. Bitcoin Air also thrives on the idea that the world can pursue a clean means of growth without destroying the lives of others and the ground under our feet. We at Bitcoin Air strive to produce a truly positive force in Crypto Space that can change things for the good of our future generations.

BITCOIN AIR TECHNICAL DETAILS