What is ReBitcoin?

ReBitcoin Essentials

ReBitcoin is a cryptocurrency and a decentralized payment network. As a new user, you can start using ReBitcoin right now, completely without understanding the technical details. The moment you install the ReBitcoin Core wallet on your computer, it will create your first ReBitcoin address. In the future, you can create for yourself an unlimited number of addresses. These addresses can be shared with your friends or business partners so that they can send you any amount in REBTC. Transfers in the ReBitcoin network are almost instantaneous, almost free and not reversible.

Coin NameReBitcoin
Coin SymbolREBTC
Start Date02/12/2019
Proof TypePoW
Block Time10 min
Initial block reward100 REBTC
Difficulty ReadjustmentAfter 2016 blocks
Halving intervalEvery 210 000 blocks
Block sizeUp to 4 Mb
Total supply42 000 000
Mainnet P2P port
Testnet P2P port
Regtest P2P port
Mainnet RPC port
Testnet RPC port
Regtest RPC port
Source codehttps://github.com/rebitcoin/rebitcoin/
Block Explorerhttp://blockexplorer.rebitcoin.xyz/
Telegram Channelhttps://t.me/rebitcoin

The balance of each address on the blockchain

Blockchain is a public distributed database on which the entire ReBitcoin network is based. All confirmed transactions are included in the block chain. Based on this information, a ReBitcoin wallet can calculate the balance of your balance and verify that in new transactions coins are actually spent by their owner. The integrity and chronological order of the block chain are based on reliable cryptography.

Private keys are everything

A transaction is a transfer of REBTC coins between ReBitcoin wallets, information about which is included in the blockchain. ReBitcoin wallets contain confidential information called private keys, which is used to sign transactions, providing mathematical evidence that the transaction is indeed approved by the wallet owner. This signature also prevents a transaction from being modified after it has been transferred to the network. All transactions are transmitted between users and begin to be confirmed by the network, usually within 10 minutes, using a process called mining.

Mining ReBitcoin

Cryptocurrency mining is a decentralized mathematical computing system used to create new blocks and confirm pending transactions by inclusion. Any network member who has the necessary equipment can become a miner. Miners receive a reward in the form of new ReBitcoin coins, which are automatically credited to the miner’s wallet for finding each new block. To date, the block reward is 100 REBTC. It will be reduced by 2 times, approximately every 4 years or after 210,000 blocks. A total of about 42,000,000 REBTCs will be created.

Mining provides a chronological order of transactions in the blockchain, network independence, and also allows different computers to “agree” on a single state of the system. In order for transactions to become confirmed, they must be packaged in a unit that meets strict cryptographic requirements and must be verified by the network. These rules do not allow changing the previous block, so in this case all the following blocks would be erroneous. In addition to this, mining creates an analogue of the lottery, eliminating the possibility of a simple sequential addition of blocks to the chain by any user. Thus, no one can control the blockchain or replace parts of it with others to roll back or replace transactions.