OPRR Flash Depth Data

Search Extension

BitEqual - Making Bitcoin Equal Again

2025-06-05 12:35

Read this article in 16 Minutes

AI summary

View the summary

Source: BitEqual

Background:

Bitcoin, as the pioneer of decentralized digital currency, achieved currency issuance without a central authority through Proof of Work (PoW). However, its mining has gradually been monopolized by large enterprises, making it difficult for ordinary users to participate due to high hardware and electricity costs.

BitEqual aims to restore the fairness and decentralization spirit of Bitcoin. Through the virtual Proof of Work (vPoW) protocol, based on smart contracts running on public blockchains such as Ethereum, BNB Chain, etc., any user with a wallet can participate in "mining" without the need for physical equipment.

BitEqual Manifesto:

We love Bitcoin, but it no longer belongs to us

It was born in freedom, but has been tamed by Wall Street

We can't even afford 1 BTC

We can't mine it anymore

All we have left is admiration and faith

Thus, BitEqual was born!

The same spirit, scarcity, and fairness

But simpler, lighter, and cheaper

No hardware, factories, or validators

Only code, fully on-chain, and everyone is equal

BitEqual revives the spirit of Satoshi Nakamoto

Allowing everyone to have free thinking, a wallet, and a fresh start

BitEqual—Making Bitcoin Equal Again

1. Protocol Overview

BitEqual uses the vPoW mechanism to issue the new BTE token. Users participate in mining through smart contracts to acquire virtual mining infrastructure and receive rewards based on their share of the total network hashrate. The complete system consists of three core components:

· Token Supply and Issuance

· Virtual Mining Infrastructure

· Reward Distribution Mechanism

1.1 Token Supply and Issuance

The total token supply of BitEqual's BTE token is fixed at 21,000,000. The tokens will be released block by block following a geometric halving curve inspired by Bitcoin.

Halving Schedule (Illustration):

1.2 Virtual Mining Infrastructure

Virtual Mining Rigs:

· Provide fixed virtual hashrate (e.g., 100 vHashrate/unit).

· Consume virtual power (e.g., 1 kW/unit).

· Purchased with BTE, devices never expire.

Virtual Mining Frames:

· Define the number of devices a user can support and maximum power output.

· Upgradable by paying in BTE.

Initialization:

· New users can pay a small fee to receive a basic frame and a free entry-level device.

· Advantage: No physical hardware required, cost-effective; fully on-chain management through smart contracts for simple and transparent operations.

1.3 Reward Distribution Mechanism

At each block, the contract checks each user's total virtual hashrate and calculates rewards proportionally. There is no randomness or competition.

Example: If user A has 100 vHashrate, user B has 400 vHashrate, total hashrate is 500, and the block reward is 3 BTE, then A receives 0.6 BTE, and B receives 2.4 BTE.

1.4 Referral Mechanism

BitEqual has integrated a referral system designed to incentivize community growth and fair participation. Referrers can receive continuous rewards, and referred users can also receive ongoing rewards. Direct benefits through discounts and performance improvements.

Based on user activity, there are three types of recommended rewards:

· First-time Purchase Mining Frame (Paid in BNB)

· Purchase of Miner and Frame (Paid in $BTE)

· Mining Activity (Reward and Hashrate Boost)

First-time Purchase Frame Recommendation Reward: The first-time purchase of a frame requires spending 0.02 BNB.

· Referrer receives a 10% BNB reward: 0.002 BNB

· Referred user enjoys a 10% discount: First-time frame purchase requires payment of 0.018 BNB

· Protocol Treasury receives the remaining: 0.016 BNB

· This is a one-time referral when the user first purchases a frame

Miner and Frame Upgrade Referral Reward: Referral rewards are generated when a user spends $BTE to purchase a miner or upgrade a frame.

· Referrer will receive the full price 10% in $BTE

· Referred user can enjoy a full price 10% discount

· 50% of the original cost will be permanently burned

· The rest enters the protocol treasury

This mechanism creates a deflationary cycle while rewarding both parties.

Mining Referral Reward: A reward is triggered each time a referred user mines $BTE.

· Referrer receives 5% of the $BTE mining rewards

· Referred user gains a 10% hashrate boost across all miners

· Without using a referral, the user will not receive a hashrate boost. This ensures the referrer's ongoing passive income and provides clear incentives for long-term retention and user onboarding.

II. System Deployment

BitEqual itself is not a blockchain. It is a protocol driven by a set of smart contracts. Once deployed, the contracts are immutable. No one can change the token supply, rules, or reward logic.

2.1 Initial Liquidity Supply

To ensure a fair and stable launch, BitEqual will pre-allocate 3% of the total $BTE supply as liquidity before mining begins.

2.2 Initial Liquidity Bootstrapping

This allocation is solely to bootstrap initial liquidity on DEX, allowing users to freely buy and sell $BTE from the first block.

· Will not sell any tokens to raise funds

· Will not distribute any tokens to the team or investors

· Will not provide any benefits to any party All 3% will be deployed to the liquidity pool, paired with BNB, and the resulting LP tokens will be permanently burned.

2.3 Why Liquidity Comes First

BitEqual follows a strict "mine to earn" model with no presale, no private sale, and no need for external capital injection. However, a common challenge of a zero initial allocation protocol is that users cannot acquire tokens at all unless they mine first. This leads to:

· Difficulty in bootstrapping real trading

· Lack of price discovery

· Early participation dispersion

By pre-injecting liquidity:

· Users can receive $BTE from the start, enabling upgrade and strategy flexibility

· Mining rewards gain immediate value through real market demand Additionally, on the BNB chain, many projects are prone to vulnerabilities or manipulation. The liquidity setup during launch mitigates risks such as BSC infrastructure instability by providing liquidity through a one-time, immutable action and burning the LP tokens.

2.4 Trust and Transparency

To maintain full credibility and transparency:

· 3% of the $BTE allocation will be minted in a single transaction before release

· These tokens will be paired with BNB in the official liquidity pool

· All LP tokens will be sent to a burn address and undergo verifiable burning

· This operation will be announced before mining begins and can be tracked on-chain There will be no further allocation of additional tokens. The remaining $BTE supply (97%) will be released through on-chain mining following a fixed issuance schedule.

Three. Security and Fairness

All mining rewards in BitEqual are calculated using a fixed mathematical formula. The reward distribution for each block directly depends on the virtual mining power share. There is no randomness, lottery mechanism, or mining puzzle.

Since rewards are calculated at the block level using a static value stored in the contract, there is no opportunity for frontrunning or block manipulation.

Distributing virtual mining power to multiple wallet addresses does not provide any strategic advantage. All rewards are distributed proportionally, and identity information does not affect reward calculation.

Once deployed, the core smart contract governing the token issuance, halving, and reward mechanisms will be immutable. This includes:

No admin keys, no upgradable proxy contracts, no externally controlled emission curve. This ensures long-term predictability of issuance, eliminates the possibility of protocol-level rug pulls, and aligns closely with Bitcoin's ethos of trust minimization.

The open-source and verifiable BitEqual contract is open for anyone to audit. All formulas and state transitions are visible and verifiable. These design principles collectively ensure that BitEqual provides a truly fair and decentralized mining experience—virtualized, transparent, and open to all.

Summary and Insights

BitEqual has established a fair, decentralized, and low-barrier digital currency issuance system by leveraging virtual mining infrastructure, a fixed supply, and a transparent reward distribution mechanism, thus reinvigorating the 'Satoshi spirit'.

Without the need for expensive hardware, users can 'mine' the BTE token on the public blockchain through smart contracts.

With a total token supply of 21 million, adopting a Bitcoin-like halving mechanism, rewards transparently distributed based on hashrate proportion, without randomness, ensuring fairness.

The protocol operates entirely on-chain, and the smart contract is immutable, ensuring decentralization and verifiability.

New users can join at a low cost, receive free entry-level equipment, and earn additional income through a referral mechanism.

BitEqual has created an opportunity for equal participation for all in the 'BTC re-mining' opportunity, offering a chance for those who missed out on the initial BTC opportunity and fear the current high BTC price to 'realize their dreams'! Mining projects usually have early mining bonuses, and the earlier one participates, the faster the ROI and the more profits! It is recommended to pay close attention to project information and mainnet launch updates!