On April 26, BCHN completed its fundraising goal on Flipstarter. The crowdfunding project was launched on April 17th. In less than 10 days, BCHN has completed the 978 BCH (about 240,000 US dollars) fundraising goal, becoming the first BCH full node project on Flipstarter to complete the fundraising goal . At the same time, the projects initiated on Flipstarter also included BCH full node projects Bitcoin ABC, BCHD, Bitcoin Verde, and Knuth.

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BCHN has a total of 46 donors, including Top four donors

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Why choose Flipstarter?

On April 17, Flipstarter initiated fundraising for the full-node projects Bitcoin ABC, BCHN, BCHD, Bitcoin Verde, and Knuth of the BCH community. The total fundraising was 3039 BCH , and the BU team refused because of sufficient funds. The fundraising plan. The fundraising also quickly brought the Flipstarter project to the public's perspective. The birth of the project stems from the criticism of some developers in the community on IFP (BCH Basic Financing Program). Assisted in creating the financing platform Flipstarter and BCH full node project BCHN.

Flipstarter provides a new method of project financing, which can not only incentivize projects to increase credibility, but also treat donors fairly. The biggest feature of the platform is that it does not require custody. It has already cooperated with charity organization EatBCH. The platform will fully display the use of funds raised by the project and the results that can be accepted, so that the use of raised funds is more open and transparent.

The platform uses the Assurance Contract (AC) mechanism, a game theory mechanism for solving public construction, collective action, and free-riding problems. It is also a financial technology. That is, a group of people, under binding conditions, agreed to donate collectively to a project if the total amount reached a certain amount. If the total amount is raised before the deadline, the project will be funded; vice versa, participants don't need to donate and can get back donated funds. That is to say, if these five full-node projects did not raise the set amount within the stipulated time, BCH will automatically be refunded to the user, and the fund-raising declaration failed. Of course, if the fundraising goal is completed within the stipulated time, the excess BCH will also be automatically returned to the user.

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Fundraising situation of other four node projects

The best projects completed besides BCHN are Bitcoin Verde and BCHD. The funds raised by these two projects exceeded 50% of the target. Among them, Bitcoin Verde plans to raise 241 BCH, which has currently completed 83.2% (about 200.5 BCH); BCHD plans to raise 360 ​​BCH, which has currently completed 69.58% (about 250.5 BCH). The second is that Knuth plans to raise 460 BCH, completing 39.71% of the target (about 182.7 BCH), and the worst is that Bitcoin ABC has only raised 33.31 BCH, completing 3.33% of the target.

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@MarcDeMesel, a BCH community expert, donated 608 BCH to the full-node project. It is the person who has donated the most funds on the Flipstarter platform so far. He has donated more than 150 BCH for the four projects of BCHN, BCHD, Bitcoin Verde, and Knuth. Marc De Mesel is the largest donor of BCHD, Bitcoin Verde, and Knuth, accounting for more than 30%, and is the second largest donor of BCHN, accounting for about 15%, but only donated to Bitcoin ABC. Help developers to raise funds.