Vision
Many projects are scaling Ethereum network, and most of them are focusing on increasing the network’s traffic-carrying capacity, what is actually very important. However, there’s one more issue: in order to communicate with Ethereum network they need to have Ether (ETH), which makes it more complicated for technology to enter the mass-market. Bitlle Network should solve this task, giving the users possibility to pay the transactions fees by any tokens (“economic abstraction”), at the same time maintaining the initial decentralization and security of Ethereum Mainnet.
Vitalik Buterin, the Founder of Ethereum, more than a few times said about the necessity of “economical abstraction” implementation on a user’s level and not in the network protocol itself (for example, it happened during the debates with Bitcoin Core developer and Stellar technical consultant Jeremy Rubin).
How it works
Bitlle Network – is the network of specialiazed units (we call them “aggregators”), which process batch controlled users’ transactions– post them in Ethereum network, using their own Ether for gas payments. As a remuneration for this, the aggregators receive tokens, which they are ready to get. The more precious and stable the token is, the more aggregators are ready to process transactions with it, and on the other side – the less transaction fees are paid (due to high competition). Due to use of the package transactions, aggregators have the opportunity to save hugely, hence increasing their profits. Moreover, aggregators can receive ETH for transactions as usually, but they are paid automatically by “sponsors”, who wish to get in return commission in the form of tokens sent by a user.
Pilot project: CarPrice Loyalty
The client loaylty is one of the most perspective markets for tokenization. Just imagine that customers of different companies and brands will be able to exchange their bonuses in a couple of clicks being in any part of our planet! Bitlle Network is making it possible. There is no need of new (and insecure) blockchains for Bonuses. The most stable applicative blockchain Ethereum clustered with Bitlle Network is the ideal solution for any loyalty program.
CarPrice Loyalty is a pilot project of Bitlle Network and CarPrice (in the TOP50 of the most promising companies in Europe). This is the loyalty program for the company’s employees, applied in the form of mobile application and integrated with the internal systems. The project is built on Bitlle Network technologies: each bonus transaction is made in Ethereum network.
Among the further plans is the connection of Bitlle Network to CarPrice loaylty programs: both clients and dealers.
BTL Token
Bitlle Token (BTL) is the internal token of Bitlle Network, used for the necessary stake in aggregator's work. The bigger the stake is, the more transactions for proccessing they can get, and hence, to earn more. The number of transactions is limited, which means, the more transactions are in the тnetwork, the higher is the price of BTL.
Token contract address:
0x92685e93956537c25bb75d5d47fca4266dd628b8"Mining" or How to get BTL?
For distribution of BTL tokens we use a scheme, which we call “mining”, although it is not necessary to spend electricity.
Currently, it is possible to mine in our testnet Denzel placed in the Ethereum Ropsten Testnet, and further to exchange test BTL to BTL of the main network (please, see below). Since ether costs very little in Ropsten, it is possible to mine at the moment almost for free.
Mining works by means of space reservation in ethereum decentralized storage (similar to the logic of
GasToken) . Except gas economy on the future transactions, a miner receives BTL calculated based on his share in space reservation per an epoch. BTL accruals are happening inside BitlleGasStation1 contract. Each epoch lasts 50 blocks (approx. 12 minutes) and has 50 BTL. If a miner has reserved 30% of the total epoch reservation, he is eligible for 0,3 * 50 BTL=15 BTL. For BTL withdrawal a miner has to call a function of accrual in BitlleGasstation1 contract; each call processes withdrawal of all BTL accrued after the previous withdrawal.
A space is reserved to a special container, implemented partially according to ERC-721 standard (full compatibility will be implemented later). Miner can reserve space in several containers. Space in a container can be used for gas economy in any Ethereum transactions until a miner makes a first BTL withdrawal for reserved space in the specific container. As soon as at least one withdrawal is processed, space can be used only for transactions inside Bitlle Network. In case a miner wants to “release” a container for using it in any transactions, he should return all BTL he has gained from this container and has withdrawn. This action is a one-way transaction, as a miner will not be able to receive any BTL for this container until all slots in it are burnt.
The details specification of the testnet and the mining description is
here.
I did not understand anything but I want to mine BTL!
It’s really easy!
1. Create a wallet in Ethereum Ropsten. You can do this, for instance, by downloading
MetaMask extension.
Please handle it as a real wallet in mainnet, have the same security measures.2. Deposit the wallet with several ETH (it will be enough for quite a long time with the default settings). Ropsten ETH can be received at different faucets, for example, here
faucet.metamask.io.
3. Download and install Node.js. Please, choose the
recommended version.
4. Create on your computer a folder BTLMiner.
5. Open a console (line of command) and go to the folder BTLMiner. For instance, in case you have created the folder in the C disk root, then enter the command
cd C:/BTLMiner 6. Further, please, start the miner installer from NPM by the command
npm install bgsminer7. When the installation is completed please find
config.js file on the PC in
BTLMiner\node_modules\bgsminer directory. Open the file using Notepad or any other code editor and insert your data:
{
address: '0x.......................................',
privateKey:'0x.......................................................' ,
valueToMine: 1,
cashOutVal: 500,
RPC : 'https://ropsten.infura.io/',
tankToMine: null
} - your wallet address in Ropsten
privateKey - a private key of this wallet (it is exported to MetaMask via menu option Account details), should be entered after Ox
valueToMine - how many slots should be reserved during 1 epoch (can be entered as it is)
cashOutVal - how many BTL should be “mined” before the withdrawal to your wallet is proceeded (can be entered as it is)
tankToMine - if you’ve created earlier a container and you would like to mine it, please, enter its ID. Otherwise, leave it as it is, a container will be created automatically.
Save the changes!
8. Start the mining in a console by command
node node_modules/bgsminer/start.jsHurray! As far as the console is open you are mining BTL!
9. On the 1st and 15th date of each month we exchange test BTL to BTL in the main net. For this, you have to send BTL tokens in testnet Ropsten to the address
0xFFfFfFffFFfffFFfFFfFFFFFffFFFffffFfFFFfF at any moment. On the next payment day BTL will be added to the same address (from which you sent them to Ropsten) in the main Ethereum net.
Do you have any more questions? Please, write them here or in our
Telegram Chat.
Do you like our project?
You can support us with
donations. Moreover, we will be grateful for any comments about our project here or on other resources. Your opinion and your questions are very important for us!
Please, write us to [email protected] and to our Telegram.
