Mic-Apps launches bitmore coins, the very first cryptocurrency designed for mobile devices
Bitmore coins is now available for iOS and Android devices, bringing a timely evolution to regular cryptocurrency, using an innovative multi-layer blockchain where anyone can start mining, sending or trading coins from a mobile device phone or tablet
By: Mic-Apps Ltd
Conventional peer-to-peer, decentralized cryptocurrencies like the now famous bitcoins have failed to offer real tangible alternatives to conventional currencies for 3 fundamental reasons: lack of thrust, unethical and unsustainable power requirements for mining transactions, and finally the rigid and juddered transaction process.
bitmore coins have been designed from the outset to address these fundamental flaws, and offer a ground-breaking evolution to regular digital blockchains with:
1. A centralized, open and trustworthy transaction ledger using a secure and controlled process
2. A proof of work tailored to minimise energy requirements while ensuring encrypted chain robustness
3. A fast and flexible process where new blocks can be mined in parallel by all users
bitmore coins are developed to be managed exclusively on mobile devices (smart phones and tablets running iOS or Android). Transactions are mined directly by anyone who creates, buys or sends coins. The bespoke proof-of-work takes an average of 60 seconds on a modern smartphone.
bitmore coins innovative blockhain is organised in levels, with each level holding up to a pre-set number of blocks (currently up to 1,000). A new level is created every time the maximum number of transactions is reached, or if a user requests a second bilateral transaction on the same level. This ensures that all transactions on one level are all independent from one another. Each block within one level is directly woven to the blocks in the preceding level using a Merkel root. The whole blockchain forms a tight matrix being extended continuously by users mining their own transactions into new blocks.
All transactions follow a simple and robust process whereby the user defines his transaction, gets a slot in the chain and has up to 5 minutes to complete its mining process on his device to validate the transaction and tie the block into the chain. At which point, the block is registered successfully within the chain as valid and funds are allocated accordingly. If the user has already been involved in a bilateral transaction then the network waits for the mining operations already registered on the current level to be completed before initiating a new level where the user can mine his new transaction.
Users can mine or buy new coins themselves. A limited number of new coins (currently set to 10) can be mined at once by any user. This mining operation is free and allows anyone to start speculating at no risk. Alternatively, users can choose to buy larger amounts of bitmore coins. The purchase operation is initially mined and once successfully completed and paid for, it is enabled in the chain.
Last but not least, bitmore coins incorporates a unique value projection system that correlates actual coins value at any time to the total number of coins in circulation. This means that the more coins mined, or bought by users, the more value these are taking intrinsically, ensuring increased residual value.
bitmore coins app main features include:
- Mine new coins for free
- Send new coins to other users
- Buy new coins
- Manage digital wallet
- Manage user account details
- Inspect blockchain and visualize the content of any blocks
- Check the validity of any blocks
- Trade coins
PR materials and High-res Screen grabs: http://www.mic-