Frequently Asked Questions
eBitcoin (eBTC) is a community-driven cryptocurrency. It is designed as an ERC20 token which combines and leverages the best characteristics of both, Bitcoin and the Ethereum blockchain.
Is eBitcoin a mix of both Bitcoin and Ethereum?
Yes and no. eBTC is a tokenized version of Bitcoin on the Ethereum blockchain.
It complements both blockchains in a unique way: 1. by integrating Bitcoin’s best attributes in the Ethereum ecosystem, and 2. by enabling much faster payment transactions at much lower transaction costs than Bitcoin. eBTC was designed to be used as an efficient and affordable medium of exchange which is able to marry with Ethereum smart contracts.
How does eBitcoin differ from Ether?
Ethereum is a platform and its “currency”, Ether, was created as a means to run its overall infrastructure. Even if Ether is today widely used as a currency, it was originally not intended to become a currency.
eBTC is in the purest sense of the term ‘cryptocurrency’ a currency for everyday use. Like Ether it may be used as a medium for faster and cheaper exchange and as a store of value.
The total supply of eBTC is capped to 21,000,000 and cannot be increased whereas Ether’s supply is much higher (95,665,000 Ether as of November 11, 2017) and Ether’s supply will be increased every day by Ether mining. Thanks to its fixed supply, eBTC is therefore not subject to an inflation risk.
Furthermore eBTC may be considered as an environment friendly currency. Its total supply was provided at the date of its creation. Ether, however, is still being mined which means that enormous amounts of energy are and will be wasted for the creation of additional Ether.
How does eBitcoin differ from Bitcoin?
Bitcoin, with its main characteristics of ever-booming and volatile prices and exorbitant high transaction fees, is no longer a digital currency in the strictest sense of the term ‘cryptocurrency’. It is widely rather considered to be a store of value or what many stakeholders call ‘digital gold’.
For those reasons, Bitcoin’s relevance as a currency for everyday use is expected to continue to decrease.
eBTC, as compared to Bitcoin, is intended to become a mainstream medium of exchange with fast transaction times and low transaction fees as well as a measure of value and a store of value with all the benefits of the Ethereum ecosystem.
Furthermore eBTC may be considered as an environment friendly currency. Its total supply was provided at the date of its creation. Bitcoin, however, is still being mined and is expected to be still mined later than year 2130. This means that enormous amounts of energy are and will be wasted for the creation of additional Bitcoin.
What is the core value of your coin?
eBitcoin is the first community-driven blockchain ecosystem which purports to represent Bitcoin’s core ideals on Ethereum. It core ecosystem would revolve around building apps, entertainment ware , tools, gateways and other innovative solutions where eBTC would be the primary payment method. As digital cash, eBitcoin is much faster and cheaper than Bitcoin—it has 15-second block time and an eBTC transaction costs around $0.15 to $0.5—and also has smart contract support. For an in-depth analysis on eBitcoin’s core philosophy, please consult our official whitepaper. Short excerpts from the White paper:
“As an electronic cash and payment system, eBTC aspires to sustainably represent the core attributes of Bitcoin on the Ethereum blockchain without experiencing the hassles of slow block times, higher transaction costs, centralized mining and continuous forks while also providing the support for smart contracts.”
“With Ethereum’s smart contract capabilities, eBTC strives to implement all the available use-cases such contracts offer in furthering eBTC’s adoption as a truly global and everyday-usable digital currency and payment mechanism.”
Why does it have value?
It has value because the idea of having a faster, cheaper and smarter tokenized version of Bitcoin on ethereum was never successfully implemented before. Among the various ERC20 tokens, eBitcoin is uniquely positioned to become an Ethereum-based digital cash and payment system representing Bitcoin’s core ideals, as a medium of exchange and store of value, on a more flexible and scalable platform. Moreover its value comes from its dedicated, vibrant and strong global community. We believe, with adoption and awareness, this simple idea may evolve into an everyday-usable and decentralized digital cash ecosystem. To realize the vision of integrating innovative tools into eBitcoin, we have an extensive global team that works around the clock, and we have an open invitation for developers with the same vision to join our ever-expanding global team of block chain developers.
Why does it have value?
eBTC is currently listed on several centralized and de-centralized cryptocurrency exchanges.
Announcements of more token exchanges are coming soon. Please stay tuned!
Where can I currently use eBitcoin to pay for goods and services?
Our long-term goal is to have eBTC accepted across the globe and across a large variety of industries.
Only 45 days after its inception, eBTC is already being accepted by four merchants.
We are working to rapidly expand this “eBTC Accepted Here” list.