CyBill – New CPU Alt-Coin Value-Proposition
“I don’t always create cryptocurrency, but when I do, I will create great value.” – David L. Whitehurst June 2018
Why create a new alt-coin? Why not? The creation of CyBill has begun. It really begins with an idea and a Github repository https://github.com/ciwise/cybill
CyBill is a cryptocurrency for everyone. CyBill was derived from the Mayan (Yucatan) word for gift. The first cryptocurrency, BitCoin is not really a coin but is more a chain of trusted transactions. This chain is verified digitally to prove accuracy and trust in the transaction. It is our intent that the CyBill be a bill of currency protected and trusted using Bitcoin’s well-tested block-chain technology. The CyBill can be mined using common CPU processing. The implemented algorithm prevents miners using ASIC or GPU processing because the algorithm throttles this form of mining and excessive energy waste. So you can mine CyBill with common hardware like your PC, laptop, Macbook, cell phone, or even a Raspberry Pi. Mining software will be written to compile on many different platforms.
CyBill, while not an online payment system itself, it does provides a virtual currency that can be given to anyone in the world without using an intermediary such as a bank. And, like cash, this coin supports financial transactions between people and without third-party corporate oversight. CyBill coins can be minted by computational devices including personal computers and portable devices through mPoW and mPoS. CyBill aims at fairness, cost effective and energy efficiency during coin minting. CyBill is a hybrid PoW/PoS-based cryptocurrency that integrates two mechanisms: proof-of-work (PoW) and proof-of-stake (PoS) protocols. CyBill is a CPU coin.
To be perfectly fair, CyBill will borrow from many of the ideas of Magi Coin (XMG), PPCoin, and Bitcoin (BTC). The secret to the success of this coin will be our new value proposition (yet to be shared). Our goal is to produce a new alt-coin that holds it value and doesn’t follow Bitcoin (BTC) movement. For a new currency to be a success, it can’t fluctuate in value wildly like Bitcoin and all the other popular alt-coins. Stay-tuned for how we achieve this!