Bitcoin and Shitcoin have similarities and differences. Let’s take a brief look at the beginning of the cryptocurrency era started with the creation of Bitcoin.
What is Satoshi Nakamoto Known for?
Satoshi Nakamoto is known for two major revolutionary technologies which are:
- Inventing Bitcoin
- Implementing the first Blockchain
Bitcoin was invented in 3 January 2009, Since then not only its reputation grew rapidly but also it caused lots if innovations like Proof of stake(POS) consensus, layer 2 networks and so many improvements on the Blockchain’s security, scalability and decentralization.
These innovations and technologies developed extremely fast.
Nowadays Blockchains are easier to implement. They can handle lots of secure transactions almost instantly with very low or even zero transaction cost.
Now in cryptocurrency industry we can see diverse blockchains with different approaches in terms of utility and Blockchain features.
SHIT is one the cryptocurrency tokens that is created after Bitcoin’s revolution on the top of the new Blockchain with extreme improvements compared with Bitcoin’s Blockchain.
In this post we are going to take a concise look at some of the key similarities and differences between BTC and SHIT.
What are the key similarities between Bitcoin and Shitcoin?
- Both of them are decentralized cryptocurrencies.
- The ultimate mission of both is building Decentralized Free Societies in the Decentralized Free World.
- Both BTC and SHIT help People all around the world to transfer money and value without the need for intermediaries like banks specially for the people that don’t have access to international financial institutions because of the hurdles like government sanctions.
- Total coin supply of BTC and SHIT is limited so they are not inflationary cryptocurrencies.
- Both of them is created with empty hands.
What are the key differences between Bitcoin and Shitcoin?
- Bitcoin is a cryptocurrency coin operates on its own Blockchain whilst Shitcoin is a cryptocurrency token operates on Binance Smart Chain Blockchain.
- Bitcoin use Proof Of Work(POW) consensus algorithm whilst Shitcoin use Proof Of Stake(POS) consensus algorithm.
- As a result of POW consensus mechanism, bitcoin is not energy efficient and on the other hand Shitcoin is energy efficient cryptocurrency token because of its POS consensus mechanism.
- Bitcoin can handle 3-7 Transactions Per Second(TPS) but Shitcoin can handle 55-60 Transactions Per Second.
- BTC have the average transaction time of around 10 minutes but average transaction time for SHIT is about just three seconds therefore Shitcoin transactions are far faster that Bitcoin transactions.
- Bitcoin transaction cost is about 2-5 dollars but Shitcoin transaction cost is around 0.2-0.3 dollar therefore Shitcoin transactions are far cheaper than Bitcoin transactions.
- BTC supply is caped at 21 million coins but SHIT supply is caped at 21 trillion tokens.
- There are not any coin burning plan for Bitcoin but ShitcoinCommunity will announce burning event in 2022.
- BTC is a very serious cryptocurrency but SHIT is fun!
As we explained above both BTC and SHIT are interesting cryptocurrencies.
Satoshi started new revolution in Technology and Hiroshi join that revolution.
BTC is the invention of the century looking for the New World Order which is building Decentralized Free Societies where people living freely together without the need for any centralized government.
On the other hand Shitcoin is Hope Oriented and community driven cryptocurrency token that wants to unite people all over the world for Bitcoin’s ultimate vision which is building Decentralized Free Societies in the Decentralized Free World.
Shitcoin slogan is: Together we can Change The World.