Bitcloud Whitepaper

Abstract

Bitcloud works on a variation of proof of stake known as proof of bandwidth. The nodes in this system are similar to the miners in the Bitcoin protocol in that they mine cloudcoins by providing bandwidth to the network. Instead of using a proof of work system where miners are looking for the solution to a complex mathematical equation, the nodes in Bitcloud are rewarded based on their share of the total amount of bandwidth used in the Bitcloud network. Each block reward is distributed among the nodes based on their share of the overall amount of bandwidth needed by the Bitcloud users.

Bitcloud Website
Bitcloud Whitepaper

Social