Important: As of January 31, 2020, Bitcoin Interest (BCI) has been delisted from Bitfinex.
What is Bitcoin Interest (BCI)
Bitcoin Interest (BCI) is a decentralized, peer-to-peer, fork of Bitcoin which focuses on three key areas: Technology, Community and Savings. The blockchain and the new integrated savings technology behind it allows users to gain interest payments without the underlying risks of trading. It has no fixed interest rates and rewards are distributed in proportion to the network staking activity, with weekly and monthly payment cycles.
Every time a block is solved on the Bitcoin Interest network, the miner is awarded 12.5 BCI Coins, and an additional 1 BCI is generated from the block and sent to the Interest Pool. Once the weekly or monthly round has finished, the holdings of the Interest Pool are shared with the participating users.
As an example, if 5000 blocks were solved in a month, then the Pool would have gathered 5,000 BCI Coins. At the end of the interest cycle, the assets are shared with users who have registered their wallets and participated in the interest round.
Notes:
- The approximate date that BCI tokens were credited to Bitfinex was at the beginning of July 2018.
- Bitfinex supported mainnet based BCI token.