Ṩ BITSUM

The first crypto-currency of Uzbekistan



What is a crypto currency?

So, what exactly is a crypto currency? In its purpose, the crypto currency is not much different from other means of payment. The principal difference lies in the way of issuing (issuing) payment units and organizing the system for their storage and payment. Before the advent of crypto currency, all monetary systems had one common property: the existence of a single center for the regulation, control and issuance of monetary units. Payment crypto-currency systems work according to another technology. They do not have a single center or bank, and payment units are stored directly on users' computers on their crypts. Thus, a money bank is formed, distributed throughout the world.

What is BITSUM?

BITSUM is a decentralized, open source crypto currency that uses the CryptoNote algorithm. The main goal of creating BITSUM is the creation of a decentralized crypto currency in TAS-IX. Anyone can take part in its development and / or promotion. You can send and receive BITSUM without any middlemen and without interest for the transfer. You can earn BITSUM by becoming a member of the system. You can not use BITSUM by simply closing the page.

What is CryptoNote?

CryptoNote is an open technology that allows you to create anonymous crypto-currencies. Authors guarantee to users 100% anonymity and protection of their payments. This technology has "protection" from mining on special devices (ASIC).

Who sets the price?

The rate of the Crypto currency is regulated by the same market mechanisms as for traditional currencies, without the ability to manipulate the exchange rate, since the money supply is given by a mathematical algorithm and is generated in a decentralized manner. Only members of the system can set a price.

Is it legal?

The Law of the Republic of Uzbekistan does not prohibit the use of crypto currency

BITSUM is an unofficial currency that does not have a specific legal status. According to the legislation of Uzbekistan, the Russian Federation and the Republic of Kazakhstan, BITSUM is not and can not be considered an electronic monetary unit, BITSUM is also not and can not be considered a payment system. Tax legislation allows you to consider any benefit that has value. Regardless of the type of currency, a profit tax is required. Initially, BITSUM does not cost anything, getting it you do not bring yourself any profit or good. If you get (get) a good and pay taxes from its value, then you do not violate the law.



Capabilities

Security

All transactions are protected by the CryptoNote algorithm

Decentralization

Each participant is part of the system

Speed

All transactions are executed within a few minutes

Without Borders

You can send BITSUM anywhere in the world

Small commission

Compared to bank transfers, the commission is several times less

Anonymity

High degree of confidentiality in transactions

Specification

BITSUM is an auto-generated fork of Bytecoin

Algorithm Proof-of-work: CryptoNight
CPU + GPU mining (performance ratio 1: 1). An algorithm that requires memory, uses AES encryption and SHA-3.

The maximum number of coins: ~ 184.47 billion
Actual number of indivisible units M = 2 64 - 1. The minimum award can be calculated in the future with inflation of less than 1% in order to keep interest in mining miners.

Reward for the block: smoothly changing.
Uses a recursive relation. Reward per block = (M - A) * 2 -18 , where M is the Actual number of indivisible units, and A is the number of coins issued in circulation.

Estimated time between blocks: 120 seconds

Downloads


Console client

Console services Bitsum, including the main service, the console wallet and the program for mining.

Windows 64-bit


Telegram customer

A wallet that includes classic console services and a management program via Telegram.

Windows 64-bit