Topic: [ANN] Black Gold Coin [BGCO] - 10.5M Supply | SHA-256 | No Premine (Read 340 times)

Website: https://blackgoldcoin.org
Explorer: https://explorer.blackgoldcoin.org










Genesis block timestamp: 1735689600, GMT: Wednesday 1 January 2025 00:00:00
pszTimestamp = "The Times 05/Dic/2024 You’re welcome, says Trump as bitcoin rises above $100,000.";














Introduction
Black Gold Coin (BGCO) is a decentralized digital currency inspired by the Bitcoin protocol,
optimized for faster transactions and enhanced value preservation.
Our unique approach ensures scalability and sustainability through a refined block timing and reward structure.




Key Features
Fast Transactions: Block generation every 2 minutes.
Sustainable Rewards: Annual 10% reduction in coin rewards.
Robust Security: Built on the proven SHA-256 proof-of-work algorithm.
Scalable: Designed to handle increasing transaction volumes efficiently.

Technical Specifications		Bitcoin		Black Gold Coin
Block time		10 minutes		✔ 2 Minutes
Difficulty adjustment		2 weeks		✔ 1 Hour
Total supply		21 millions		✔ 10.5 millions
Reward mechanism		Halving every 4 years		✔ Annual decrease of 10% in coin reward
Initial coin reward		50 BTC		✔ 4 BGCO
Algorithm		✔ SHA256		✔ SHA256
Consensus mechanism		✔ Proof-of-Work (PoW)		✔ Proof-of-Work (PoW)

Why Black Gold Coin?
Black Gold Coin leverages the security of Bitcoin while enhancing transaction speed and reward distribution.
Our goal is to provide a stable and scalable digital asset that can be utilized for a wide range of transactions.


Transation
BGCO, like Bitcoin, represents each coin as a chain of digital signatures.
Owners transfer BGCO by digitally signing a hash of the previous transaction and the public key
of the next owner, thus creating a verifiable chain of ownership.
To avoid double-spending, transactions are publicly broadcast, allowing all nodes to validate
each block and ensuring that only the longest chain of proof-of-work is considered valid.



Incentive Structure
In BGCO, mining incentives align with the structure introduced in Bitcoin,
where miners are rewarded with new coins for validating blocks and helping maintain the network.
However, Black Gold Coin introduces an annual 10% reduction in mining rewards.
This reduction rate balances initial issuance with long-term scarcity,
progressively transitioning from block rewards to transaction fees as a source of miner revenue,
ultimately preventing inflation and maintaining value over time.



Conclusion
Black Gold Coin builds on Bitcoin’s pioneering framework by introducing a faster block generation time
and a sustainable reward reduction, offering a secure and efficient decentralized transaction network.
BGCO’s modifications address both scalability and value retention, making it a viable digital currency
for a broader range of transactions.
Its reliance on proof-of-work, combined with a self-adjusting difficulty mechanism,
ensures long-term integrity and incentivizes miners to support the network honestly.





Join the Community
Stay updated with our latest developments and be a part of our growing community.

https://blackgoldcoin.org