Bitgesell
Crypto Overview
Project Overview
Bitgesell (BGL) is a cryptocurrency that launched in 2020 as a fork of Bitcoin, with modifications designed to enhance its store of value properties. The main technical differences from Bitcoin include a 90% block reward burn mechanism, smaller block sizes of 400KB, and SegWit-only transactions.
Purpose and Utility
The stated purpose of Bitgesell is to serve as a superior store of value compared to Bitcoin by implementing a more aggressive deflationary mechanism. The project aims to achieve this through its 90% block reward burning feature, which makes BGL more scarce over time.
Current Usage and Adoption
Bitgesell currently has limited adoption and is primarily traded on smaller cryptocurrency exchanges. The network is maintained by a small but active community of miners and developers. On-chain analysis shows most activity is related to mining and trading operations.
Development Activity
The project maintains an open-source codebase with regular updates and improvements. The development team continues to work on technical enhancements and maintaining the network infrastructure.
Token Distribution
Bitgesell had no pre-mine, ICO, or founder allocation. All tokens are created through mining, with 90% of block rewards being burned. This distribution model ensures fair access and prevents concentration of tokens among founders.
Revenue Model
The project operates purely as a proof-of-work cryptocurrency without any lending, staking, or interest-bearing mechanisms. Revenue for network participants comes solely from mining operations and potential price appreciation.
Crypto Impact
To assign a comfort level investing in Bitgesell from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitgesell.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.