BITILLUMINATI ICO

BIC is an asset defined in git, a cryptocurrency Direct Acyclic Graph without blocks. The advantage of utilizing such technology is that BIC is not mined and therefore the whole transaction validation process is lighter and measurable.

66 million BICs have been set. The definition of an asset even though it was originally created started 1017 basic units, called microBICs (μBICs). One BIC is equivalent to one million μBIC.

BIC is a decentralized cryptocurrency intended for wide use especially in the US / Asia / Europe market but can be used all over the world.

BIC is built on its own network. This enables all users to securing mutual transactions by reference to previous transactions made by other users, and also eliminating common scalability constraints for blockchain, such as block size issues.

The consensus algorithm used to protect against multiple expenses is based on the formation of total orders in the BIC. This is achieved by selecting a chain, called the main chain, which is leaning toward the unit issued by a commonly known trusted user - witness.

BIC uses its own network network as the underlying network but it is really a new asset. Together has been issued 66 000 000 BICs which means 40 * 15 microBICs.

For Users: Professional development team, plus live communication, independent antifraud system.

For Investors: Open source database, fair and transparent smart contract transaction, PPS model (Profit-per-Sale) available, fast payment.

For Beginners: Easy entry (given free usage and lots of investment options), fair reputation rating, fair competition.

First Use of BIC Chain

Draft - @ 2017, Foxy blaze, a Boston-based cryptocurrency expert, posted his draft (already drafted in 2014) of a coin based on the BIC chain. It has never been a project and remains just a concept, so no actual coins are made.

IOTA - By the end of 2016, the cryptotoken optimized for the Internet-of-Things (IoT) industry called IOTA and the upcoming is POB, introduced. Instead of global blockchain, the ultimate innovation behind the IOTA they call Tangle - a scalable, lightweight blockless book. IOTA is currently in Beta.

BIC - BIC is the first asset built on the platform and its own network. BIC evolved in hand.

Financial Model

Staking: Earn up to 120% returns per year through POS printing. It's easy to get through this method, you just have to hold a coin in your Bitilluminati purse.

Loans: The profit from this investment is generated by Bitilluminati Trading Bot and Software Volatility. Based on the investment option you choose.

Trading: Buy and sell Bitilluminati Coins at different price points and generate profits from the same. You can buy Bitilluminati coins at a lower price and sell them for a higher price.

When we decide that a unit is random, we still have to keep it. However, some of the data is replaced by data hashes. This rule serves two purposes. First, to reduce the storage consumed by units that nobody pays (the whole contents of random units are considered invalid, including commission payments). Second, to reduce random utility to the user who sent it, because the hash replaces all useful data the author wants to save (for free). This prevents attackers from abusing random as a way to store large amounts of data for free.

Hash that is stored in place of full content still has some utilities for attackers, as it can store its own original data and use hashes to prove that the data exists. But remember that:

He still has to pay for a unit that is considered valid

If the attacker has internally stored the metadata necessary to interpret Byteball data, he can do the same by merely merging all his data into the Merkle tree and using Byteball to store only his Merkle root at a cost of one small unit.

We have proposed a decentralized decentralized arbitrary data storage system, including social value data such as money. Each new data unit implicitly confirms the existence of all previous units.

Revision of past records is similar to that in 1984 becomes impossible, because each new unit is also implicitly

protect all previous units from modification and deletion. There is an internal currency used to pay for data inclusion in a decentralized database. Payment is equal to the size of data to be stored, and in addition to this payment there is no access restriction to the database. Other assets can also be issued and their ownership can be tracked in the database.

When tracking payments in internal currencies and other assets, multiple spend is completed by selecting a history version that is witnessed by known trusted users. Finalization of settlement is deterministic. Assets may be issued under any rules governing their transfer, enabling institutions that are set up to issue assets that meet regulatory requirements. At the same time, transfers can be hidden from third parties by sending their content personally, directly from payer to payee, and issuing proof of expenditure to ensure that each coin is spent only once