The Bitblocks network has been built to reword its network supporters via block rewards (Staking / Masternode reward). By utilizing PoS technology combined with MasterNodes, BitBlocks is able to deliver nearly zero transaction fee for each transaction. This means when using BitBlocks more of your actual investment is kept in your pocket instead of it being spent through thesending of coins from one wallet to the next.–
Bitblocks has a privacy feature which makes it possible to send anonymous transactions. This means a user can choose traceable or anonymous. Bitblocks is a fork of PIVX which is built and improved from Dash code. Dash, also is a fork of bitcoin core with privacy feature implemented. In essence, Bitblocks can be spent public or private. This privacy feature is reached by using joint payments. This is basically by merging transactions together and splitting them up again, thus, making it difficult or near impossible to trace transactions from specific wallet address to another.
Bitblocks transactions are instant like PIVX and Dash. That is; the person receiving the transaction is able to see from the sender the moment the funds are sent. This makes Bitblocks an excellent means of making transactions. Thanks to its fast speeds this allows numerous transactions to be sent over long distances without the worry of waiting for your funds to be available or even waiting for confirmations to go through as needed with a lot of cryptocurrencies.
Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time. Some of the special functions that these nodes perform are:
- Increasing privacy of transactions;
- Doing instant transactions;
- Participating in governance and voting;
- Enable budgeting and treasury system in cryptos
- These masternodes are not standalone but they are always communicating with other such nodes to make a decentralized network and are often referred in short form as MN.
Setting up the BitBlocks wallet takes a few minutes.
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