Bitcoin Rhodium is a fork of the Bitcoin blockchain that occurred in December 2018. The new cryptocurrency aims to provide a more scarce and valuable alternative to Bitcoin, with improved security and privacy features.
Bitcoin Rhodium is notable for its use of the X11 algorithm, which is ASIC resistant and favors GPU mining. The project also plans to implement Lightning Network support, which would enable instant, low-fee transactions.
Bitcoin Rhodium’s supply is capped at 2.1 million coins, and approximately 1 million of those have already been mined as of February 2019.
NOTE: WARNING: Bitcoin Rhodium is a digital asset that is not regulated by any government or agency. As such, it can be highly volatile and risky to invest in. Make sure you understand the risks before investing and always do your own research. Bitcoin Rhodium is not a safe investment and there is no guarantee of returns on your investment.
The cryptocurrency’s team has indicated that they will not pre-mine any coins, and all future mined coins will be distributed to those who participate in the network’s Proof-of-Work consensus algorithm.
The project has generated some controversy due to its association with a company called BitRhodium Ltd., which is registered in the United Kingdom.
Some have accused the company of running a pyramid scheme, although the team behind Bitcoin Rhodium has denied these allegations.
Despite the controversy, Bitcoin Rhodium has been gaining traction among cryptocurrency enthusiasts, and its price has steadily increased since its launch in December 2018. If the project is able to deliver on its promises, it could become a valuable addition to the cryptocurrency landscape.
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