NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

CreditBit Discusses Proof of Pawn/Trust in its Latest Update

newsbtc
newsbtc
5 years ago
2 mins read
bitcoin, creditbit, press release

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Creditbit, the MIT/X11 licensed cryptocurrency project, just updated the crypto community about its distribution mechanism on Bitcoin Talk.

The update talked about how one of the key attributes of the newly minted CRBIT coins is that Creditbit has to tackle the problem of minting and distribution of newly minted coins on their own. And how they want to keep the currency and its management transparent and based on democratic principles.

Further, the update discusses the three Minting Processes involved in minting CRBIT coins – Migration, Proof of Pawn/Trust Distribution Mechanism and Dev&Promo Funds. You can read more about the minting processes here.

Proof of Pawn or Proof trust is a concept. The term itself is up for vote as Creditbit wants the community to vote on what to use from ‘pawn’ or ‘trust’.

Under Proof of Pawn/Trust Distribution Mechanism, a minting plan will be proposed from the Development Team, some key settings of minting plan will be decided within migration.

The community will be involved in the minting of new tokes under Proof of Pawn/Trust. The community will be able to vote for predefined proposals on how many new tokens will be minted and distributed in next time periods.

At migration, each depositor will be able to vote for a favourite proposal, his/hers vote will be weighted by an amount of migrated coins. Later votings will be managed by CreditBit DAO organization.

The Proof of Pawn/Trust puts complete onus on the community to select or even change this minting plan in a later future.

For each owner of tokens to participate in a distribution process, he must candidate with an act of Trust to Community. Locking a certain amount of Tokens will enable him to participate in different modes of distribution.

With holding long position on tokens (locking), you are not able to create a transaction with these tokens, although they still belong to your public address.

More details about the mechanisms to be published by Creditbit in next posts by next week.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price news

Bitcoin Price Could Still Crash To $99,000 If This Happens, Warns Ostium Labs

Ostium Research’s latest weekly note opened with Bitcoin under pressure after a swift selloff into the new week, describing “a...

Jake Simmons 9 hours ago
D’CENT Wallet Launches GasPass, Bringing Gas-Free Blockchain Transactions

D’CENT Wallet Launches GasPass, Bringing Gas-Free Blockchain Transactions

D’CENT Wallet, the hardware wallet maker best known for pioneering biometric crypto security, just unveiled GasPass. The feature removes one...

Aaron Walker 12 hours ago

Bitcoin Faces Bearish Pressure As Exchange Inflows Stay Elevated – Will BTC Lose $112,000 Support?

According to data from Coinglass, the crypto market saw liquidations worth more than $1.6 billion over the past 24 hours,...

Ash Tiwari 17 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Faces Pressure as Taker Ratio Hits Lowest Level Since Last Cycle’s Peak

CEO Dismisses September Crash, Reveals Why The Bitcoin Price Is Headed For $150,000

Sandra White 4 hours ago
Bitcoin Net Liquidations Stay Negative Near $40M: Analyst Warns Downside Still In Play

Bitcoin Net Liquidations Stay Negative Near $40M: Analyst Warns Downside Still In Play

Sebastian Villafuerte 5 hours ago

Bitcoin Short-Term Holders Capitulate: 30K BTC In Realized Losses Over 24 Hours

Sebastian Villafuerte 7 hours ago

Premium Sponsors

Press Releases

  • Sezon na altcoiny już tu jest. Te trzy czynniki mogą napędzać hossę

    Sezon na altcoiny już tu jest. Te trzy czynniki mogą...

    1 hour ago
  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    5 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    7 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    7 hours ago
  • リップル 今後の価格に重大な不安要素、新たに注目すべき仮想通貨とは

    リップル...

    7 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.