In June 2013 Cryptogenic Bullion (CGB) was launched: a decentralized, peer 2 peer, blockchain based currency morphed from the Bitcoin protocol. The number of professional online services incorporating Cryptogenic Bullion is growing at a rapid rate and the currency is currently trading for approximately 500 CGB per 1 BTC. A fork of the virtual currency Novacoin, Cryptogenic Bullion is designed to be a rare, interest bearing, peer-to-peer virtual commodity with the same decentralised characteristics of Bitcoin but with some key differences. Cryptogenic Bullion’s innovations include an accelerated decrease of the mining subsidy, almost immediate transaction time and 2% annual interest eligible for Bullion that has been stationary in a user’s wallet for at least 30 days. Cryptogenic Bullion has been well received in the digital currency ecosystem. The official Facebook page has over 4,500 fans, and the official CGB website has been translated into Dutch and Chinese.
The team behind Cryptogenic Bullion is comprised of digital currency enthusiasts with many years of experience in the Bitcoin ecosystem and beyond; having spent many years mining, programming and working on Internet technology projects. Unique among alternative cryptocurrency teams, CGB also has many years of experience in business management and marketing, ensuring CGB carves out a significant niche for itself in the digital currency ecosystem. Much like Satoshi Nakamoto of Bitcoin, the lead developer of CGB has remained anonymous – but the anonymous developer tackles problems and maintains the integrity of the CGB protocol. This is extremely important for the longevity of the project. Elambert, the founder of Cryptogenic Bullion, is a married man with an 8-month-old son who both works as a data analyst and is also extensively involved in other online businesses and pursuits. Managing the marketing and project development aspects of CGB is Mercury Stills, an entrepreneur with a passion for emerging technologies who founded his first successful company in the year 2000. More info on CGB’s development can be found on their website.
Team CGB is currently pursuing an aggressive marketing campaign via social networking sites like Facebook, GooglePlus, Twitter, LinkedIn, Sina, Baidu, Sohu and more. Moreover, Team CGB will initiate a billboard campaign across Europe, starting in Nicosia, Cyprus later this year. The more people who are aware of Cryptogenic Bullion and the financial and business innovation provided by virtual commodities and virtual currencies, the more people will embrace the unprecedented possibilities inherent to the emerging disruptive technology of global digital currencies.In this way Cryptogenic Bullion’s extensive marketing not only benefits the CGB project but the entire cryptocurrency space itself.
The Winklevoss twin’s intention to offer the world’s first Bitcoin exchange-traded fund (ETF) could be the precursor to a diverse range of alternative virtual currency ETFs. As an interest bearing, relatively rare, virtual commodity, Cryptogenic Bullion will be perfectly positioned to attract fund manager’s capital, which will generate massive potential for large long-term increases in value.Team CGB is currently reaching out to investors and business owners who may want to diversify some of their BTC holdings into CGB to potentially remedy price volatility. Any individual who contacts team CGB to incorporate Cryptogenic Bullion into their business processes will be warmly received.
With the professionalism and vision of the Cryptogenic Bullion’s core team, this digital commodity is operating in a different paradigm to the majority of alternative cryptocurrencies. The CGB protocol’s primary innovations of a 2% annual interest rate, and its relative rarity and faster transaction time as opposed to Bitcoin also bode well for the digital currency’s future. A diverse ecosysem is a healthy one, and due to its unique properties Cryptogenic Bullion may well become one of the cryptocurrencies of choice in the emerging digital currency investment space
Official CryptoGenic Bullion website: http://cryptogenicbullion.org
CryptoGenic Bullion services and exchanges: http://cryptogenicbullion.org/services.html
CGB on Twitter: https://twitter.com/CryptogenicBull
CGB on Facebook: https://www.facebook.com/pages/Cryptogenic-Bullion/134177020124803
Name: Mercury Stills
For the technically minded here are the CGB protocol details:
- Proof of Work/Proof of Stake Hybrid.
- 60 second block target.
- 5 confirms per transaction.
- Mining difficulty re-targets every 2 blocks. Accelerated re-targets are utilized.
- 10 Bullion per block reward, halves every 50,000 blocks until reward of ~0.01 is reached were it will remain forever.
- 2% annual interest eligible for coins which have been stationary in a user’s wallet for at least 30 days
- Default P2P Port: 7695
- Default RPC Port: 8395
- ~2% Annual PoS
- Similar to Litecoin, Cryptogenic Bullion utilizes a Scrypt based cryptographic algorithm for proof of work.