A scalable, interoperable & secure network protocol for the new age of the Internet - Web 3.0

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Any type of data across any type of blockchain

Bitpaid is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains.

This means Bitpaid is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible.

Bitpaid can transfer this data across public, open, permissionless blockchains as well as private, permissioned blockchains.

This makes it possible to build applications that get permissioned data from a private blockchain and use it on a public blockchain. For instance, a school's private, permissioned academic records chain could send a proof to a degree-verification smart contract on a public chain.

An Open-Source Protocol Built For Everyone

Bitpaid is an open-source, decentralised, public blockchain with smart contract functionality project founded by the Bitpaid Foundation and are free from control and interference by any single authority.

Governance Roles

Council Members

Elected to represent passive stakeholders in two primary governance roles: proposing referenda and vetoing dangerous or malicious referenda.

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Technical Committee

Composed of teams actively building Bitpaid. Can propose emergency referenda, together with the council, for fast-tracked voting and implementation.

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Groundbreaking Technology

Bitpaid is solving many of the problems that have held back blockchain technology so far — all in one place, without compromising.

W H A T   I S
D E F I

Multiple Decentralized Applications (dApps)

Bitpaid’s decentralized applications (dApp) built on the Ethereum platform are the type of distributed open source software applications that runs on a peer-to-peer (P2P) blockchain network rather than on a single computer. The use of blockchain enables a dApp to process data through distributed networks and to execute transactions.

The decentralized nature of dApps means that once a developer has released a dApp's codebase, others can build on top of it. While a traditional application is supported by centralized servers and database, a dApp is supported by a smart contract that is stored on a blockchain.

Bitpaid is providing latest and trending multiple decentralised applications (dApps) including Exchange, Finance, Gaming, Wallet, Fantasy, Social Media, etc. to its users with highest quality and services to make maximum benefits from it.

A better security model

In both Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems, blockchains compete with each other over resources to secure their networks, and blockchains are easily attacked until they develop a significant community to support their network.

Bitpaid takes a different approach by letting blockchains pool their security, which means that the blockchains' security is aggregated and applied to all.

By connecting to Bitpaid, users can secure themselves from day one.

XCM: a secure cross-chain communication standard

For blockchains to work together and form the basis of Web3, they need a common language for communication. Bitpaid sets the standard with XCM, a cross-consensus communication format and programming language that allows blockchains of different designs to securely exchange arbitrary data, code, and value. In this way, a new wave of rich cross-chain applications and services can be built that tap into the features and benefits of different chains.

Next-generation proof of stake

Bitpaid pioneers an advanced, highly-efficient form of proof of stake called Nominated Proof of Stake (NPoS). NPoS enables greater decentralization and fair representation by evenly distributing stake, allowing all BTP holders to participate in staking, and balancing the interests of smaller and larger BTP holders.

BTP holders can help secure the network and collect BTP rewards by staking as a nominator or a validator. With Bitpaid’s native nomination pools, anyone with as little as 1 BTP can stake and collect rewards.

A green, energy-efficient protocol

It’s hard to get behind blockchain as the next technological revolution when it wastes so much energy. Bitpaid is designed to power the web’s next big wave of innovation, without the high energy consumption of conventional proof-of-work blockchains.

Bitpaid’s Nominated Proof-of-stake (NPoS) model uses a small fraction of the energy consumed by conventional blockchains, and has the lowest carbon footprint among proof-of-stake protocols analyzed in recent research.

Transparent on-chain governance

Bitpaid is based on the principles of transparency, security, and a modern approach and it uses a sophisticated governance mechanism that is designed to establish a transparent, accountable and binding process for resolving disputes and upgrading the network.

BTP tokens are used to participate in governance decisions, including tabling proposals, voting, and bonding.

Parachains are free to design their own governance mechanisms, allowing for maximum freedom without affecting other parachains.

Bitpaid Gaming

Bitpaid gaming provides players with a way to earn money. This is referred to as a play-toearn model, where players can earn money by playing games on its platform.

Bitpaid offers a simple experience like connect a wallet place a bet on some random number get rewarded if your guess was correct, without any kind of authentication like login via email. Bitpaid is also coming up with a powerful Web3 gaming platform in near future where we offers the best variety of fantasy games. The platform will features over 50+ online games, including live dealer games, table games, lottery games, slot games, poker, quiz tournaments, etc.

On-chain treasury for decentralized project funding

Bitpaid’s governance system also features an on-chain treasury that the community can use to fund projects that benefit the network. Any BTP holder can submit project funding and bounty proposals, and can nominate community members for tips based on work completed.

With tens of millions of BTP available for spending, the treasury represents a powerful resource for fueling Web3 innovation.

Roadmap

The launch of Bitpaid v1 began in early 2017 and since then it’s continuously growing day by day to reach new heights. Several post–launch developments and optimizations are expected for 2023 and beyond.

See launch Roadmap

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