B stands for Bit, the smallest unit of the information world. It also represents the blockchain technology and digital assets with Bitcoin being the most notable. W has two meanings, one is “World”, which represents BW’s vision to create a diverse and self-governing community through production, appreciation and circulation of digital assets; the other is “Wealth”, which represents BW's hope to share development achievements with platform users and investors through innovative business models, leading technologies, and participation of global communities.
BW is mostly interpreted as “cryptocurrency network”. As one of the three famous mining pools in the early days, BW possesses the top-level global domain BW.COM and has millions of users, providing mining pool services of mainstream cryptocurrencies such as BTC, LTC, ETH, ETC, UBTC, SC, etc. to miners from 45 countries and regions. The BW mining pool has produced nearly 300,000 Bitcoins, 1.5 million Litecoins and nearly 2 million Ethereums, with a total value of more than 3 billion US Dollars. The current daily output of various digital currencies is still more than 1 million US Dollars. A considerable amount of output comes from self-operated mining machines.
In 2017, BW underwent a major transformation that Australian Collinstar Holding fully acquired BW.COM. Today, BW.COM has become the first POS mining community and digital asset contract exchange that is based on mining pool.
BW now has full technical support from ZB, one of the world's largest digital asset exchanges. ZB has more than 5 years of experience in operation management and security management of trading platforms. The upgraded new BW, as a contract trading platform, will fill the gap of ZB trading ecology and form a core strategic alliance with it.
BWB is a BW.COM platform point based on ERC20 standard of Ethereum block chain, which bears community rights and interests, circulation attribute and value attribute. The total supply of BWB is 1 billion, with no additional issuance forever.
BWB is distributed through the mechanism of "synchronous release of POS mining". That is, 51 per cent of the BWB will be returned to community users through the "mining by trading, mining by deposit, mining by mining" model. The rest of 49 per cent of the BWB will be used for targeted distribution, public distribution and distribution to BW Fund and operations teams. The BWB used for distribution is frozen in full in advance, and released gradually in proportion to the mining portion on a daily basis or released monthly on a maximum duration. BW will innovate to launch new mining mode and guarantee the rights and benefits of the community.
As a certificate of the cryptographic digital rights that can be circulated around the world, token is an important feature of digital asset exchanges, and it is bound to become an indispensable element in the future digital economy era. BWB is a certificate of BW.COM exchange's rights and benefits, and it is also a certificate for BW's global community members to participate in community governance.
The revenue of BW exchange platform will be distributed to BWB holders in proportion. Specific method: 80% revenue of the exchange platform * BWB amount held by user / current circulating volume of BWB.
According to the above calculation method of the mining portion and distribution portion, the current circulating volume of BWB is: current circulating volume of BWB = Current total mining output BWB / 51%.
Only the current circulating BWB will participate in the distribution of BW.COM exchange trading revenue, that is, only the BWB that has already been mined and the released "distribution portion" of BWB will participate in the distribution of the exchange's 80% trading revenues.
For example, the number of BWB held by user A accounts for 1% of the total circulating BWB. And in a certain distribution period, the revenue to be distributed for BWB is 2000 BTC + 2000 ETH. In such period, the revenue to be distributed to user A is 20 BTC+ 20 ETH.