Background:

Bitcoin, as the pioneer of decentralized digital currency, achieved currency issuance without a central authority through proof of work (PoW). However, its mining has gradually been monopolized by large enterprises, making it difficult for ordinary users to participate due to high hardware and electricity costs.

BitEqual aims to restore the fairness and decentralization spirit of Bitcoin by using the virtual Proof of Work (vPoW) protocol, which runs on public blockchains such as Ethereum and BNB Chain based on smart contracts, allowing any user with a wallet to participate in “mining” without the need for physical equipment.

BitEqual Declaration:

We love Bitcoin, but it no longer belongs to us.

It was born out of freedom, but has been tamed by Wall Street.

We can’t even afford 1 BTC

We can no longer mine it.

We are left only with looking up and faith.

Therefore, BitEqual was born!

The same spirit, scarcity, and fairness

But simpler, lighter, and cheaper

No hardware, factory, and validators

Only code, fully on-chain, and everyone is equal.

BitEqual Reviving Satoshi Nakamoto’s Spirit

Let everyone have free thoughts, wallets, and new beginnings.

BitEqual - Making Bitcoin Equal Again

1. Overview of the Agreement

BitEqual uses the vPoW mechanism to issue new BTE tokens. Users participate in mining by obtaining virtual mining infrastructure through smart contracts and receive rewards based on their share of total network computing power. The complete system consists of three core components:

· Token Supply and Issuance

· Virtual Mining Infrastructure

· Reward distribution mechanism

1.1 Token Supply and Issuance

The total supply of BitEqual’s BTE token is fixed at 21,000,000 coins. The tokens will be released block by block according to a Bitcoin-inspired geometric halving curve.

Halving Schedule (Description):

1.2 Virtual Mining Infrastructure

Virtual Mining Equipment (Rigs):

· Provide fixed virtual computing power (e.g., 100 vHashrate/unit).

· Consumes virtual power (e.g., 1 kW/unit).

· Purchase using BTE for devices that never expire.

Virtual Mining Framework (Frames):

· Define the number of devices that users can support and the maximum power output.

· You can upgrade by paying with BTE.

Initialization:

· New users can choose to receive the basic framework and free starter equipment by paying a small fee.

· Advantages: No physical hardware required, reducing costs; full chain management realized through smart contracts, simple and transparent operations.

1.3 Reward Distribution Mechanism

In each block, the contract will check the total virtual hash rate of each user and calculate rewards proportionally. There is no randomness or competition.

Example: If user A has 100 vHashrate and user B has 400 vHashrate, the total computing power is 500, and the block reward is 3 BTE, then A receives 0.6 BTE and B receives 2.4 BTE.

1.4 Recommendation Mechanism

BitEqual integrates a referral system aimed at incentivizing community expansion and fair participation. Referrers can receive ongoing rewards, and referred users can also gain continuous rewards. Direct benefits are obtained through discounts and performance enhancements.

According to user activity levels, there are three types of recommended rewards:

· First purchase mining framework (pay with BNB)

· Purchase drilling rigs and frames (paid with $BTE)

· Mining activities (rewards and hash rate increase)

First-time purchase frame recommendation reward: The first purchase of a frame requires spending 0.02 BNB.

· Referrer receives a 10% BNB reward: 0.002 BNB

· Recommended users can enjoy a 10% discount: the first purchase of the framework requires a payment of 0.018 BNB

· The protocol library received the remaining: 0.016 BNB

· This is a one-time recommendation for users when purchasing frames for the first time.

Drill and frame upgrade recommended rewards: Users will receive rewards when they spend $BTE to purchase drills or upgrade frames.

· Referrers will receive 10% of the original price in $BTE.

Recommended users can enjoy a 10% discount off the original price.

· 50% of the original cost will be permanently destroyed

· The rest goes into the protocol library

This mechanism creates a deflationary cycle while rewarding both parties.

Mining referral reward: Every time a referred user mines $BTE, a reward will be triggered.

· Referrers earn 5% of the $BTE mining rewards

· Recommended users receive a 10% hash rate increase on all mining machines.

· If the recommendation is not used, the user will not receive a hash rate boost. This ensures continuous passive income for the referrer and provides clear incentives for the referrer to retain long-term and onboard users.

2. System Deployment

BitEqual itself is not a blockchain. It is a protocol driven by a set of smart contracts. Once deployed, the contracts cannot be changed. No one can alter the supply, the rules, or the reward logic.

2.1 Initial Liquidity Supply

To ensure a fair and stable release, BitEqual will pre-allocate 3% of the total supply of $BTE as supply before the start of mining.

2.2 Initial Liquidity Guidance

This allocation is solely to guide the initial liquidity on the DEX, allowing users to freely buy and sell $BTE from the first block.

· Do not sell any tokens to raise funds

· Will not distribute any tokens to the team or investors.

· No benefits will be provided to any party. A total of 3% will be deployed to the liquidity pool, paired with BNB, and the resulting LP tokens will be permanently destroyed.

2.3 Why Liquidity is the First Priority

BitEqual follows a strict “mining for profit” model, with no presale, no private sales, and no need for external capital injection. However, a common challenge of a zero initial allocation protocol is that users cannot obtain tokens at all unless they mine first. This can lead to:

· Difficult to guide real transactions

· No price discovery

· Early participation in decentralization

By injecting liquidity in advance:

· Users can obtain $BTE right from the start, allowing for upgrade and strategy flexibility.

· Mining rewards obtain instant value through real market demand. In addition, many projects on the BNB chain are vulnerable or manipulated. The liquidity settings during the launch period provide liquidity and destroy LP tokens by taking a one-time, immutable action, thereby mitigating risks such as instability in BSC infrastructure.

2.4 Trust and Transparency

In order to maintain adequate credibility and transparency:

· 3% of the $BTE allocation will be minted through a single transaction before the release.

· These tokens will be paired with BNB in the official liquidity pool.

· All LP tokens will be sent to the burn address and undergo verifiable destruction.

· This operation will be announced and traceable on-chain before mining begins. No additional tokens will be allocated thereafter. All remaining $BTE supply (97%) will be released through a fixed issuance curve via on-chain mining.

3. Security and Fairness

All mining rewards in BitEqual are calculated using a fixed mathematical formula. The distribution of rewards for each block directly depends on the share of virtual computing power. There is no randomness, lottery mechanism, or mining puzzles.

Since the rewards are calculated using static values stored in contracts at the block level, there is no opportunity for front-running or block manipulation.

Distributing virtual computing power across multiple wallet addresses does not yield any strategic benefits. All rewards are distributed proportionally, and identity information has no effect on reward calculations.

Once deployed, the core smart contract that manages supply, halving, and reward mechanisms will be immutable. This includes:

No management keys, no upgradable proxy contracts, no external control over the launch curve. This guarantees the long-term predictability of the issuance, eliminates the possibility of protocol-level censorship, and aligns closely with the spirit of trust minimization found in Bitcoin.

The open-source and verifiable BitEqual contract is open-source and can be audited by anyone. All formulas and state transitions are visible and provable. These design principles together ensure that BitEqual provides a truly fair and decentralized mining experience – virtualized, transparent, and accessible to all.

Summary and Opinions

BitEqual has created a fair, decentralized, and low-threshold digital currency issuance system through virtual mining infrastructure, a fixed supply, and a transparent reward distribution mechanism, reactivating the “Satoshi spirit.”

No expensive hardware is required; users can “mine” BTE tokens on the public blockchain through smart contracts.

The total supply of the token is 21 million, adopting the Bitcoin halving mechanism, with rewards transparently distributed according to computing power ratio, without randomness, ensuring fairness.

The protocol runs entirely on-chain, and the smart contracts are immutable, ensuring decentralization and verifiability.

New users can join at a low cost, receive free starter equipment, and earn additional income through the referral mechanism.

BitEqual has built an opportunity for everyone to equally participate in “BTC re-mining opportunities”, providing a chance for those who missed the initial BTC opportunity and are afraid of the current BTC price to “realize their dreams”! Mining projects all have early mining bonuses, the earlier you participate, the shorter the return cycle and the more profit you can earn! It is recommended to pay more attention to project information and the launch of the mainnet!

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