ENSENADA, Mexico, Feb. 14, 2017 /PRNewswire/ -- BitBay, the
cryptocurrency software suite offering unbreakable smart
contracts was keeping a low profile for some time but has now
resurfaced; stronger than ever. The creator and soul developer of
BitHalo/BlackHalo David Zimbeck has worked effortlessly the past
two years to create the most advanced and secure wallet in
cryptocurrency space. The software suite is capable of supporting
an entire smart contracting interface with decentralized markets
and other features.
A BitBay community member comments,
"How is it that a single developer can deliver such an
incredible suite when entire teams of coders have a hard time even
delivering a functional wallet? How on earth has this project gone
unnoticed, and why is it not in the top 10 coins in the
world?"
Unbreakable Smart Contracts
Unlike many other platforms, BitBay is not vaporware. It is a
feature rich platform that offers unbreakable smart
contracts for important real world applications. The BitBay
contracts are far superior to other smart contracts as they are
secured by collateral deposits from both parties, which makes it
unbreakable. In the event of a default by one of the parties, their
collateral funds will be burnt, making it illogical for them to
cheat or exit the contract with the intention of defrauding the
other.
The smart contracts system on BitBay eliminates arbitrators,
biased third parties, escrow and even fees. Without any middlemen,
it can create coins for cash contracts like a decentralized
"LocalBitcoins", where cash payments are completely trustless. It
can also be used to create "employment contracts", "decentralized
eBay-like delivery contracts" (to ensure prompt delivery of working
products), and even "barter contracts" that allows people to create
a "wish list" and trade any item off that list.
The user-friendly templates on BitBay enable users to create
smart contracts by just entering few details. The platform
currently has a handful of templates in place, with more to be
added shortly. In David Zimbeck's
words, all one has to do is use their imagination to create a
custom template for any deal they want. The platform's "Cash for
Coins" template has already been successfully used by many to
automate buying process and complete cash deals without needing
escrow or middlemen. The platform will soon release a "buy/sell
anything" contract template with reverse and regular auctions
support. It will also include a variety of shipping choices.
Decentralized Marketplace
BitBay had a decentralized marketplace almost a year before
"Open Bazaar". BitBay's completely anonymous market is
built right into the client, and it allows users to create their
own public and private markets. Or they can just check different
contracts already available in the main market. The BitBay software
allows communication between users by supporting email with end to
end encryption like Thunderbird and it also supports Bitmessage for
a more decentralized option.
Other features on BitBay include "Pay to Email" which uses
steganography to hide payments within photos sent to recipient's
email. The feature, originally created for tipping purposes has
various other applications as well. Even the wallets' two encrypted
keys can be hidden within images using David's steganography based
feature. These keys can then be used on two different computers to
sign transactions – a feature that lays the foundation for "Cold
Staking", which will be utilized in both BitBay and BlackHalo. The
Cold Staking feature will be almost impossible to crack because the
computers used to sign your transactions can be in completely
separate locations. BitBay will also make allowance for "exotic
spending" such as "locktimes". In addition to the "dead man's
switch", "parking of coins", "burn" and other spending types, it
also supports automated joint accounts for business partners and
spouses. The BitBay platform can also translate to 92 different
languages.
About BitBay
BitBay has so far created a whole cryptocurrency ecosystem with
its own functional market economy. All these things have turned
BitBay into a powerful cryptocurrency software suite that can take
on other cryptocurrencies. The platform enjoys a vibrant
community that is regularly attracting and training new users.
The "contract faucet" created by one of the team members is
currently giving away coins using a unilateral "Guarantor" contract
to whoever accepts it.
BitBay will soon release their secret star feature that will
eliminate the cryptocurrency's volatility.
Learn more about BitBay at
– http://bitbay.market/
Media Contact
Contact Name: David Zimbeck
Contact Email: dzimbeck@gmail.com
Location: Baja California, Mexico
BitBay is the source of this content. Virtual currency is not
legal tender, is not backed by the government, and accounts and
value balances are not subject to consumer protections. This press
release is for informational purposes only. The information does
not constitute investment advice or an offer to invest.
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SOURCE BitBay