Time: 20:00, October 18, 2024 (UTC+8)
Guests:
Adam McBride, Bellscoin Strategic Advisor
introduce
BIT Exchange officially launched $BELLS. In this AMA, Bellscoin strategic consultant was invited to participate in the project interview AMA. This interview mainly discussed the origin and inspiration of $BELLS, its connection with DOGE coin, the future of the project and the benefits to holders, as well as the Bellscoin team's understanding and future prospects of the project and Meme culture.
$BELLS Origin and Inspiration
The story of Bellscoin ($BELLS, formerly $BEL) originated from the early Meme coin movement. Its founder BillyM2K created this PoW blockchain in December 2013, 8 days earlier than Dogecoin.
Bellscoin is a fork of Dogecoin, and the two share the same genesis block. On the blockchain, the founder deliberately added the word "Nintondo" to pay tribute to Nintendo's classic game "Animal Crossing", which also became the inspiration for $BELLS.
Although BELLS started early, it did not initially gain as much attention as Dogecoin and stopped mining shortly after its launch. However, with the promotion of the community and Meme coin enthusiasts, the project ushered in a revival in late 2023. Today, BELLS is not only an important player in the Meme coin field, but also a unique existence in the blockchain ecosystem through merged mining with Litecoin and Dogecoin and its inscription blockchain status.
The connection and difference between $BELLS and $DOGE
The Bellscoin team said that both Dogecoin and Bellscoin were created by BillyM2K and have similar origins, but their development paths are significantly different. Dogecoin quickly became popular with strong community and celebrity support, while Bellscoin was abandoned and not restarted until 2023. Despite this, the two projects have something in common in decentralization and PoW consensus mechanism. Dogecoin has a larger community, while the BELLS community is closer and highly involved in its development, especially in terms of technological innovation and feature expansion, such as support for SegWit, Taproot, and Ordinals technologies.
Short-term and long-term benefits to holders
The Bellscoin team said that as the BELLS ecosystem develops, holders can expect to gain benefits in the short and long term. The upcoming Epoch 4 will significantly reduce mining rewards by 90% on November 6, 2024, reducing the supply of new $BELLS tokens, which may drive up token demand and prices. In addition, $BELLS holders can also benefit from the expansion of the token's utility, such as inscription services and cross-chain transaction functions.
In the long term, the economic model of the $BELLS token will become more stable, and the future mining reward cap will be set at 1 million $BELLS per year in 2025. This supply scarcity coupled with the network's technical upgrades will provide long-term value growth potential for holders.
Using Meme Culture to Expand the Community
One of $BELLS's development strategies is to leverage its deep meme culture roots to attract more cryptocurrency enthusiasts. Its lighthearted and fun origin story, coupled with its status as the first inscribed blockchain, gives $BELLS a unique advantage in the field of digital art and collectibles. Community activities have also brought more exposure to $BELLS, especially the creations of artist Nookamoto, which have been widely circulated on social media, injecting more vitality into the project.
Collaboration and exposure with other projects
$BELLS plans to increase its adoption and popularity through collaboration with other projects. In addition to merged mining with Litecoin and Dogecoin, Bellscoin has also partnered with major mining pools to attract more miners and holders.
In addition, $BELLS recently launched an Ethereum cross-chain bridge, further expanding its user base and enabling the token to gain more attention in new trading groups. Through collaboration with digital artists and NFT creators, $BELLS has also gradually become a darling of the creative and decentralized community.
Outlook for the Meme Market
The Bellscoin team said that as Meme coins gradually move towards the mainstream, $BELLS has taken a place in the market with its unique historical and technological advantages. Its true origin story and early foundation in the Meme coin movement distinguish it from other projects. In the future, as the supply of $BELLS gradually decreases, its scarcity will drive long-term demand. Combined with a stable economic model and a secure and efficient network architecture, $BELLS is expected to continue to maintain its unique position in the Meme coin market.
Conclusion
This AMA fully demonstrated the revival of Bellscoin, and also demonstrated its unique historical and technological advantages. It also reshaped its position in the Meme coin market through community efforts and innovative applications. In the future, with the scarcity of supply and continuous technological upgrades, BELLS is expected to attract more investors and users and become an important player in the blockchain ecosystem. In the future, with the participation and cooperation of more projects, BIT will also learn more about the needs and voices of the community and help move the entire ecosystem forward.
