BiblePay Whitepaper

Abstract

BiblePay (BBP) serves both as a decentralized autonomous charity, and as an
investment. It combines many of the features of other cryptocurrencies such
as Dash and Bitcoin with unique community-building features and a
revolutionary approach to avoiding the irresponsible waste associated with
typical heat mining. So much more than simple wealth generation, BBP
endeavors to create a better world and show God’s love to others via
revolutionary technology.

Existing blockchain technology takes one of several forms, each of which
has their own difficulty. Proof-of-Work (POW) systems suffer from
extremely poor electrical efficiency, while Proof-of-Stake (POS) systems
have inherent flaws in their ability to regulate bad actors. In addition,
heat mining for most blockchain-based coins or tokens has led to the
development of specialized hardware-based mining rigs that are outside
of the reach of most individuals. Bitcoin alone generates more electricity
than many countries around the world. Add to this the low-trust
environment of lack of accountability, shady ICOs, significant pre-mining,
and it is not hard to see why so many are looking for alternatives.

BIBLEPAY SOLUTION BiblePay utilizes a new proof-of-work algorithm based on the King James
Bible, called Proof-Of-Bible-Hash (POBH). It is unique in that every miner
has the entire KJV Bible integrated, making it virtually impossible to port
to GPU or ASIC mining, Another key aspect of mining is Proof-OfDistributed-Computing
(PODC), which is a greener alternative to traditional POW and is the primary consensus algorithm. BiblePay has
built-in features that enable it to be self-funding and self-governing,
based on the Dash masternode strategy, and had no ICO or pre-mine.
Full accountability is built into the wallet itself – and 10% of every block
can be seen to go to highly-efficient charities supported by the
community.

BiblePay Website
BiblePay Whitepaper

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