Bitcoin Interest, the latest spin-off of the first Bitcoin cryptocurrency, aims to raise interest of the traditional bank and to introduce them into the cryptocurrency world. Since Bitcoin with Bitcoin Cash last August, Bitcoin has seen up to 19 hard forks up to now and this year experts predict that more than 50 forks will come out.

A Familiar Innovation for Crypto-Economics

The main idea behind Bitcoin Interest (BCI) is very similar to that of an interest-bearing savings account , with a decentralized approach. If you store your BCI coins for a certain period of interest – "weekly or monthly" – the system will allocate interest payments proportionally to its participants.

One of the main advantages of Bitcoin Interest is that there is no fixed interest rate, and the rate is usually higher than the rate of interest. a traditional savings account. The interest rate is calculated based on the number of coins generated and placed in the interest pool, and the number of users participating in the interest round.

Hard forking for a difficult problem

While ICO and Bitcoin are found in the creation of new cryptocurrency, the main difference between ICO (Initial Coin Offerings) and the forks is that the latter initiates an immediate value for Bitcoin holders. Hard forks essentially improve on the Bitcoin blockchain to bring benefits such as security, speed and efficiency for what is called "digital gold" . According to experts, the development of hard forks could ensure the stability and maintenance of the decentralized platform that has experienced unprecedented growth and reach in recent years.

Bitcoin is another problem. from about 20 cents to about $ 15 – all through 2017. With other hurdles, this inspired an avalanche of hard pitchforks starting with Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond that was followed by many d & # 39; others.

To overcome the shortcomings of Bitcoin, these ranges have attempted to change the chain of blocks in one way or another. For example, Bitcoin Cash increased the block size from 1 MB to 8 MB, making the processing of a larger number of transactions possible over a period of 10 minutes. Investing in the future

Bitcoin Interest stands out from the other ranges because, in addition to the usual reward for mining, investors can also earn interest. by guaranteeing their BCI coins. This winning feature makes Bitcoin Interest an attractive choice in the booming cryptocurrency market. HitBTC has already expressed support for Bitcoin Interest, and Okex, a global leader in digital asset exchanges, has also agreed to support the snapshot, but it remains to be seen whether this decision will be supported or not. based on the status of the Blockchain after the fork.

Although the popularity and use of cryptocurrencies has crossed the ceiling in recent years, trust and volatility have remained a serious problem for most blockchains. industry. With the introduction of Bitcoin Interest, the company offers a type of service that many investors are already comfortable with, but has missed in the world of digital currency – gaining interest on their stocks of coins. Encouraging people to keep their savings instead of spending them could stabilize the continued volatility of the cryptocurrency market and provide the necessary insurance to investors.

You can learn more about the interest of bitcoin by visiting their website here.