Crypto Titans are Betting Big on This ‘Eco-Friendly’ Bitcoin Alternative – $9 Million Raised Already
Eco-friendly Bitcoin alternative Green Bitcoin (GBTC) has raised a tidy $9 million barely three weeks into an ongoing presale.
Green Bitcoin is a predict-to-earn staking protocol. The team behind it calls it “gamified green staking.”
How it works is simple, to get $GBTC rewards on the protocol, users have to buy $GBTC tokens and then stake them on the protocol to begin playing the price prediction game.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio
— GreenBitcoin (@GreenBTCtoken) December 3, 2023
Users then make daily predictions on Bitcoin, for instance, whether it will go up or down within 24 hours.
Every 24 hours, those who predicted correctly earn a share of rewards from the daily staking reward pool proportionate to the amount of $GBTC tokens they staked.
Holders can stake tokens for up to six months to earn even bigger rewards. Staking is a fundamental part of Green Bitcoin’s tokenomics. By reducing GBTC’s circulating supply, staking helps drive the price over the long term.
The $GBTC token has a hard cap of 21 million, a clear nod to its inspiration, Bitcoin.
Having a hard cap on the number of tokens in circulation creates value by ensuring scarcity.
However, Green Bitcoin sets itself apart from its inspiration by its greener energy consumption. To start with, the Green Bitcoin is on Ethereum, which uses a Proof of Stake (PoS) consensus mechanism, meaning the $GBTC token is cleaner and more efficient than its namesake.
Green Bitcoin consumes just 34 watt-hours (Wh) per transaction compared to Bitcoin’s 1,173,000 Wh.
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