Today there are more than 2000 different cryptocurrencies and the number is growing. Many projects are based on the program code of well known cryptocurrencies. That means they are basically forks of parent projects.
The founders of the Bytether project decided to combine in one cross-fork the benefits of Bitcoin (BTC) and Ethereum (ETH) – two systems with the biggest capitalisation.
The fork will take place in November this year. BTC owners will receive the same amount of BTH coins in the new system. In order to gain access to a new balance you have to have your email address verified on MyEtherWallet or Bytether websites which will be based on Ethereum smart contracts.
The founders plan to issue 21 million tokens based on ERC20, the standard adopted in Etherium. The developers have previously distributed tokens for several goals. 17 million BTH are designed for Bitcoin owners. 1 million BTH is designed to reward users that will help promote the cryptocurrency in social media. Another 2 millions are planned to be spent on marketing. The remaining million of coins the developers will use two years later.
After the project launch in November the developers are planning to integrate BTH into online payments till March. It is planned to issue a BTH debit card one year later.
Many people have doubts in the Bytether project and consider it to be another trial to repeat the success of Bitcoin. There is a very interesting alternative for skeptics: in November the cryptocurrency community is waiting for the fork SegWit2X to come that will increase the volume of a block up to 2 Mb. This event should significantly influence Bitcoin and affect BTH.