Bata cryptocurrency is aimed at making barter trade and other forms of commerce better than before. New jobs will be created and a change seen in the
Bata cryptocurrency is aimed at making barter trade and other forms of commerce better than before. New jobs will be created and a change seen in the current debt based money system.
Basic info about Bata
Bata uses the algorithm of scrypt – Proof of Work (POW). The full name of the currency is Bata while its symbol is BTA. It will replace the Trade Dollar which is usually issued and controlled by a central party. Bata on the other hand will bring barter to blockchain. The platform to be used is termed as the Bata Barter Platform (BBP). On this platform users will be able to exchange goods and services for other goods and services or money depending on what they prefer. There are tools, features and interface that all traders will find useful. Bata has no central authority controlling it but all users help in controlling the currency. The official website is https://bata.io/.
All Bata transactions are secured by cryptography. With this security only a user can make a payment on his or her behalf. To add to protection Bata has developed the world’s first Bitcoin Firewall and integrated it into the Core 10.4. To ensure privacy users can use I2P nodes connected to their BTA wallets. Just register at the i2p website and you will be able to do transactions privately with no one getting access to your private information.
The Bata network is growing by the day and currently has worldwide access. No matter where you are in the world you can send and receive transactions via BBP. With this platform the fees charged are very affordable. Compared to banks, credit cards and other traditional methods of transactions Bata is much cheaper and is at times even free. When payments are made they are received instantly on mobile wallets and in a short while in desktop wallets.
How it works
When a person spends one or more Bata, this is recorded in a public ledger. Cryptography is used to ensure that no one adds any fraudulent transactions to the ledger. Bata coins are released periodically and awarded to the computers connected to the peer-to-peer network that manage the public ledger.
The algorithms used, Scrypt, makes it easy for people with home computers to mine. Those using dedicated mining machines can also mine. Setting up for mining is not difficult but you will be required to solve a complex algorithm so as to be awarded with BTA. Since the algorithms to be solved are becoming harder as more BTA is added into circulation, if you are a miner you better start mining soon.
Bata allows the creation of mining pools that can attempt solving a block of algorithms as a block. The share of BTA when the algorithm is solved is less but the chances of solving the algorithm are increased.
Other than being, mined Bata coins are also sold in the markets. You will need to download a BTA wallet to store the coins you have.
Bata has many trading markets including Fiat and Bitcoin. You can use the coins for barter trade and other kinds of business transactions.