BitEqual (bte)

BitEqual is a decentralised protocol that lets users earn tokens through a virtual form of mining. It follows the same principles as Bitcoin, using fixed supply, halving schedules, and proportional distribution, without the need for physical machines, electricity, and other expensive infrastructure. Instead of the expensive Proof-of-Work mechanism, we introduce the virtual PoW mechanism where users mine tokens with virtual on-chain devices, powered by smart contracts. These virtual devices give users virtual hashrate, and rewards are distributed fairly to all participants based on their share of the total virtual hashrate. Everything happens on-chain. There is no randomness, no luck, and no central control. The system is open, simple, and transparent.