BitSend is a digital cryptocurrency that was launched in 2014. It operates on a decentralized peer-to-peer network, utilizing blockchain technology. BitSend aims to provide secure and anonymous transactions with low fees and high speed.
BitSend uses the Xevan algorithm which combines multiple cryptographic algorithms to enhance security and increase the fairness of block generation. This algorithm also ensures that the network is resistant to ASIC mining, promoting a more democratic distribution of coins.
The primary focus of BitSend is to offer a secure and private transaction experience. It employs features such as InstantSend and DarkSend to facilitate quick and anonymous transactions. InstantSend enables swift confirmations, while DarkSend utilizes a mixing process to enhance privacy by mixing funds to obscure their origins.
BitSend has a maximum coin supply of 38.5 million BSD. It utilizes a hybrid proof-of-work and proof-of-stake consensus mechanism, where users can participate in staking their coins to help secure the network and earn staking rewards.
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