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Before we dive into the BITCOIN AIR review, let’s have a general look at the crypto market and the problems faced on exchanges.
The cryptocurrency market has seen vast expansion in the last two years with continued increase in market capitalization and in the number of cryptocurrency coins and tokens (which collectively total more than 1,850). This is a result of media hype and media coverage of the crypto market, as well as its unregulated nature that has allowed vast participation by even the most uninformed of retail investors.
This is not surprising as the crypto market far outpaced other markets by staggering amounts. Some cryptocoins gained as much as 20,000% between 2016 and 2017.
THE PROBLEM
The lure of quick and supposedly easy money has not only caught the attention of genuine companies and investors in this space, but has also attracted nefarious entities who want to grab a share of this market. With no regulation to check what is coming into this market as an investment product, a lot of scams have taken over. This poses a real problem in the crypto exchanges and the market at large.
We now have a situation where many scam crypto exchanges are mostly common, and the majority of crypto investors are afraid, unsophisticated investors without the knowledge of how to decipher the scam crypto investments from the real ones.
Lack of regulation in the market and exchanges has also created a situation where there is no trust entity to validate the thousands of new cryptocurrency-based products that are entering the marketplace on a daily basis.
Trusted and accurate information channels that can serve as valid sources of informative and educational content for the unsophisticated, retail investors are lacking.
What is the end result? Many cryptocurrency traders have lost and are still losing money in the crypto market.
High transaction fee after a successful trading is another challenge on the cryptocurrency exchanges, lack of security, liquidity, and so on.
THE SOLUTION
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By using the new design concept and leading technology to utilize the Bitcoin Air’s unique Air Protocol technology, users can choose to off chain the value of their Bitcoin Air, immediately locking in the USD value. The off chaining capability will preserve the USD value of any burned coins in USDAP (USD Air Protocol) through a bilaterally operating side chain that will gain its supply through the action of off chaining your Bitcoin Air to USDAP. What this implies in essence is that, it maintains peace of mind, knowing that the value of your Bitcoin Air is securely guarded by the Air Protocol.
THE MISSION OF BITCOIN AIR
Bitcoin Air’s mission is to design and produce the first viable attempt at tackling the key issues associated with cryptocurrency, small business and environmental risks at hand today. By producing the first Carbon Credit Asset-Backed Dual-Chain Blockchain, Bitcoin Air leads the way in pioneering the adoptability, scalability, and overall benefits of using the Blockchain. By combining this technology with Green Initiatives and a viable means of Asset-Backing, Bitcoin Air creates the first Living Ecosystem dedicated to reducing the Human Footprint, lowering the cost of living, and increasing the overall quality of life.
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EXPLAINING HOW THE BITCOIN AIR PLATFORM WORKS
Bitcoin Air is a bilateral dual-chain blockchain developed to deliver a means of indirect carbon emission reductions through decentralized, trust-less merchant or consumer interactions. Bitcoin Air plans to reduce carbon emissions through the development of a dual chain volatile/stable coin pair dedicated to creating the most versatile and scalable solution for merchant and consumer use. Merchants will be able to transact in cryptocurrency without the worry of profit loss due to fraud or technical issues within their conventional credit card processing equipment. Consumers will be able to transact in a multitude of ways including in person, over the web, or via AirCash Physical Currency!
The technology behind the Air Protocol was based on the idea of an off chain decentralized reserves system that could maintain the end value of a merchants earnings. Since the analysis of cryptocurrency shows that volatility has come to be the largest issue which is largely caused by market manipulation and in hand aided by low adoption, no regulation, and failed attempts at reserve systems. Bitcoin Air will defeat all of these issues by ultimately providing both a decentralized payment system and a decentralized reserves system that can operate 100% trust free and decentralized from any central power.
The storage of Air Protocol will be on a privacy focused side chain that will allow open access to your ledger. This in turn means that access to your ledger of mints/burns will be at your control at all times. Publicly permitted API’s will be developed to allow for even the most common bookkeeping and accounting softwares to integrate with your private ledger. The act of reentry into the market will be as simple as on chaining your USDAP to Bitcoin Air. This event will occur through the burning of USDAP and the minting of Bitcoin Air at the current market rate. This action, called on chaining, will cause a rise in circulating supply, along with a rise in market capitalization to make sure no other holder takes a negative impact by reentry to the market. Simultaneously, the burning of USDAP will lower the circulating supply and lower the reserves available on the static value side chain.
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THE MARKET POTENTIAL OF BITCOIN AIR
Bitcoin Air hopes to create the balance that will open the doors for mass adoption by all small businesses world wide. The current financial impact of small businesses on the United States GDP alone is 46%, that would put the potential market at upwards of $8.5 Trillion according to the current United States GDP. To think mass worldwide adoption would put that current number to shame, but to start small and possible, even 1% of that current market flooding to Bitcoin Air through ease of access would mean a market capitalization of $85 Billion. Bitcoin Air seeks to develop an easy, user- friendly, rapid payment system that is accessible and secure enough for everyday use.
THE UP AND COMING FORK OF BITCOIN AIR
The official Bitcoin Air fork date will be announced at a later date as highlighted in the pre-fork road map (view the diagram under roadmap). The overall fork will take place by utilizing three different blockchains and in the end result creating two bilaterally operating blockchains.
The Peercoin Blockchain is what the entire development of this project will begin on, during this time, the Bitcoin UTXO will be added along with several core features including Lightning Network, Segregated Witness, and Atomic Swaps.
Upon successful finalization of the first blockchain test fork, the Haven Protocol will be forked to create a new off-chain DPoS reserves system dedicated to holding static value without being effected by the volatile states of the market.
The Peercoin supply will not be added into the fork and this means that purchasing Peercoin will not get you Bitcoin Air during the snapshot. The only users receiving Bitcoin Air at the time of the fork will be holders of Haven Protocol (XHV) and Bitcoin (BTC) at a ratio of 1XHV:(XHV x Current Price of 1 XHV)AIR and 7.5BTC:1AIR. This in turn will put the circulating supply around 2,500,000 AIR to begin, and no cap on the max supply to be open for minting and burning based on the Air Protocol usage. Holders of Haven Protocol will receive USDAP that can be minted into Bitcoin Air at current market value at any time.
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This process will create new Bitcoin Air to create a private way for Haven Protocol holders to receive their Bitcoin without a need to expose their Private Keys to a public blockchain. This process would initially put our supply overall at around 5,000,000 AIR after the final holder of USDAP burns their USDAP and mints AIR on the side chain. At a later fork date, there will be additions to the Air Protocol including the ability to mint/burn into your local currency rate (EURAP, AUDAP, GBPAP, etc.) and mint to same value in AIR when needed.
BITCOIN AIR PRE-FORK ROAD MAP
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CONCLUSION
Beyond the basic abilities, Bitcoin Air plans to be the first to implement “Air Cash”. Bitcoin Air will have the ability to mint off chain and make sure value is maintained as the team plan to expand upon this idea extensively beginning with the ability to off-chain your Bitcoin Air to USDAP Air Cash. You will be provided a QR code to print out that can be handed over like real cash and swept into a Bitcoin Air wallet as Bitcoin Air. During this process, creating the Air Cash will burn circulating supply from Bitcoin Air, and mint equal USDAP on the side chain. This will in turn provide a randomly generated private key to the QR code that will hold the value of the USDAP. This balance will not be available in your wallet, and will instead be pegged to this piece of paper. The user can then hand it to a merchant to conduct a purchase, or hand it to any other party to conduct a in person trade. Upon the receiver sweeping the balance to their wallet, the private key and public address will be added to their wallet for usage permanently from then on. The paper document would then become useless, and the address can be disposed of along with the document. This will be the first approach to a fiat introduction for cryptocurrency.
Team is actively involved in this project and superb, Be part of this Revolution Now!
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Get connected anytime with the Project using the links below for more information, updates and participation:
WEBSITE: https://bitcoinair.org/
WHITEPAPER: https://bitcoinair.org/wp-content/themes/btc_air/downloads/ShortPaper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=5044039.new#new
DISCORD: https://discord.gg/KWJUBy
TWITTER: https://twitter.com/BitcoinAirUSA
GITHUB: https://www.github.com/BitcoinAir
REDDIT: https://www.reddit.com/r/BitcoinAir/
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WRITER'S DETAILS
BitcoinTalk Username: cryptoblezin
BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2178561;sa=summary
ETH Address: 0xC89b8Dd7e3E137DB108575EeAe301E52b6C72d9F
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