The BRO coin uses two algorithms, Proof of Work (PoW) & Proof of Bergstake. Bergstake is like Proof of Stake – but not… Sort of. More on that later.
Breakout has the backing of poker all-stars Johnny Chan, Huck Seed, Jennifer Harman, Ted Forrest, Todd Brunson and Vladimir Shchemelev. That’s over 38 World Series of Poker bracelets in case anyone was keeping score.
Currently 1BTC = 6,000 BRO. A total of 14M BRO will be available during the presale. The amount of BROs will decrease by 500 until no coins remain or the countdown reaches 0. The Breakout Gaming team will control 9.5M of those coins.
In before the proverbial in b4 and someone shouts “Just another premined altcoin.” Breakout Gaming explained themselves on bitcointalk.org:
“2.5 million will be distributed to developers, celebrities, artists, executives. investors, etc…”
7million coins will be held strictly in a public wallet. … The schedule has already been detailed and outlined in the breakoutcoin.com site. These coins will be used for referrals, player bonuses, etc.. “
So there you go.
BRO sounds more like a Bitcoin clone backed by a gambling company. And that’s fantastic. Part of the value of altcoins is their ability to experiment; be the outliers. An altcoin succeeds if it achieves any level of permanency in cryptocurrency adoption.
What Bitcoin currently provides likely won’t be replaced by an altcoin. That opportunity is still a frontier. In 20 years I won’t mind dozens of coins. For as much as we herald the monetary policy, mathematics or features of this software they are still brands and marketing. All of these things contribute to their value – the faith we put in them. Even Bitcoin.
In addition to mining BRO coins, miners will mine Bergstake. Bergstakes are mined on an SHA256 Proof of Work Algorithm. The Bergstakes are the Proof of Stake part. Breakout Gaming says their hybrid is an attempt at realizing Satoshi’s original vision for CPU mining. Their coin aims to fix the double spend/forking issues of Proof of Work and Proof of Stake, respectively.
Bergstakes are ‘bootstrapped’ by the Proof of Work phase of the coin. After the PoW phase ends BRO becomes a PoS coin.The PoW phase ends in two years.
Bergstakes are like virtual, perpetual, miners that entitle you to mine future blocks doing the PoS phase.
If you are thinking of picking up some BROs, you can get them here. Before doing so, I advise reading more on Breakout Coin at the official bitcointalk.org thread.
The first line of the Breakout Gaming Terms and Conditions reads:
WARNING: DO NOT PURCHASE BRO IF YOU ARE NOT EXPERT IN CRYPTO TOKENS OR CURRENCY AND BLOCKCHAIN TECHNOLOGY.
I am not a holder of BRO.
What do you think of the Breakout Gaming crowdsale? Comment below!
Images from Breakout Gaming.