Below is our recent interview with Walter Rowe, CEO at BitBar:
Q: Walter, how would you explain BitBar in one sentence?
A: Bitbar was designed to be a store of wealth in the same way Bitcoin is, but by adding Proof of Stake (PoS) Bitbar offers 5% annual “interest”.
Q: Tell us more about the technology behind BitBar?
A: Bitbar is based upon Novacoin’s code which uses Scrypt as its Hashing Algorithm and combines that with the Fast Continuous Exponential Difficulty Adjustment Reward from Peercoin.Bitbar also offers an energy efficient way to generate blocks for its blockchain – the PoS system.
Q: Where do you see the cryptocurrency market going in 2018?
A: Bitcoin has been around for almost ten years now, and people are just now becoming aware of it. Bitbar has been around almost 4 years now, so we still have some catching up to do.
There was a large influx of new crypto enthusiasts’ back in December, and took Bitcoin (and many other altcoins) to new record breaking heights. So much so, the sheer number of new accounts and transactions nearly crippled several exchanges.
The bubble created in December is slowly going away and almost back to where it was prior. I expect the ‘normal’ growth will continue again – until the next surge.
Q: How would you convince the reader to start using BitBar?
A: The total number of Bitbars will only be 500,000 – compare that to Bitcoins 21 Million. Bitbar is a rare commodity 42 Bitcoins for each Bitbar
The best use of Bitbar is long term storage of wealth. Build up your bars, and stake them for the 5% annual growth.
Q: What is on the roadmap for BitBar moving forward
A: With 36,585 Bitbars already in circulation, the backbone is in place – all it needs is recognition. Moving forward we will be adding more exchanges, and spreading the word – “Bitbar is to crypto as gold is to fiat”.