Fractal Bitcoin, a promising sidechain scaling solution for Bitcoin, is gearing up for its mainnet launch on September 9, 2024. This innovative project aims to enhance the Bitcoin network’s scalability while maintaining its core principles of security and decentralization. By utilizing Bitcoin’s core code, Fractal Bitcoin introduces a unique merged-mining mechanism called Cadence Mining, which could potentially provide miners with an additional revenue stream.
Cadence Mining allows miners to simultaneously mine both Bitcoin and Fractal Bitcoin using the same hardware. This means that miners can continue to secure the Bitcoin network while also participating in the Fractal Bitcoin ecosystem. However, the introduction of Fractal Bitcoin’s BRC-20 token standard and faster, cheaper scaling could potentially reduce network fees from non-fungible tokens on the Bitcoin network, which have been a significant source of revenue for miners since the April 2024 halving.
News.Bitcoin reports that Fractal Bitcoin’s tokenomics and distribution plan are designed to maintain the network’s security, growth, and stability. With a total supply of 210 million Fractal Bitcoin (FB) tokens, 50% is allocated to Proof of Work mining, ensuring a strong incentive for miners to participate as pointed out by Cointelegraph. The remaining tokens are distributed among the ecosystem treasury, community grants, core contributors, pre-sale, and advisors.
As the mainnet launch approaches, Fractal Bitcoin continues to engage with its community and develop its ecosystem. According to Okx, the testnet phase has seen experimentation with various features, and the project is collaborating with wallet providers to support its growing network of protocols and decentralized applications (DApps). Additionally, the introduction of a voting system through the native FB token will enable transparent decision-making for transaction fees, node access, and ecosystem management.
Looking ahead, Fractal Bitcoin’s activation of BRC-20 tokens on the mainnet and the upcoming launch of the PizzaSwap decentralized exchange are expected to drive further adoption and growth. With BitTera announcing NFTs that can mine the native FB token, even those without mining equipment can participate in the Fractal Bitcoin ecosystem. As the project continues to evolve and attract more participants, it has the potential to make a significant impact on the future of Bitcoin scaling and miner profitability.
