BHF-Token and GAS

Blue Hill Mining Project articulates a solution!

BHF-Token and GAS

There has been quite a stir in the crypto community in recent days over the situation with the Ethereum GAS. Although at first glance it seems to be something negative, in reality it is a reaction as a result of the global situation that is being experienced, which has led many of the small and medium investors to start trading more and more with cryptocurrencies.

In search of risk and reward diversification, blockchain transactions have increased remarkably. In the case of Ethereum, in recent months a trend of growing use has developed in terms of market transactions, Smart contracts, checks and others. This has directly affected the price or "commission" that Ethereum charges for each transaction, called GAS. It is a simple equation of supply and demand, which has caused an increase in the price of the use of the ethereum blockchain technology, increased by the number of emerging apps that have focused their blockchain on this technology.

Long ago, the Blue Hill Mining Project listed a list of reasons why it was decided to use the Ethereum blockchain:

- Because it allows the creation of Smart Contracts that are executed automatically, without the need for third-party validation, thus less dependence on external factors and speeding up the processes in question for our token holders.- For its transparency, allowing each token holder to access and verify the terms of the contract.

- Because it is an international standard, with which we can put our tokens on multiple platforms, opening the doors of the future for our token holders and the crypto-market.

- Because it allows a wide range of applications, from wallets to any application. This will allow a greater freedom of action for our token holders.

Now, Blue Hill Mining Project is directly affected by this situation with the GAS, as the Blue Hill Platform is based on the Ethereum blockchain technology, and the issuance and distribution of its BHF-Tokens Utility will take place on that platform with that technology. .

Although the cost of issuing and distributing Utility Tokens must traditionally be borne by users at the time of doing so, B.H. Mining Project has expressed its commitment to token holders in the search for solutions that minimize the impact of this market situation on their project and plan.

Under this premise, the company has dedicated all its technological efforts, in conjunction with the Blue Hill Plattform team of developers to achieve an early and efficient solution. This has incurred in an arduous and urgent constant work of analysis, hypotheses and tests in order to continue with what was planned despite the challenges facing the industry worldwide.

This solution has recently been presented to the community and is the subject of analysis and study by other projects, due to its feasibility, in addition to its simplicity within the complexity of the cryptographic world. Reducing the size or weight of the information processed per transaction is the foundation of this solution. In simple words, B.H. Mining takes all Smart contracts and puts them within the Smart Contract portfolio, thus concentrating the data transfer in a single source.

These were the necessary transactions of the Blue Hill Platform wallet before the proposed solution for the Token-BHF:

With the new logical structure, Blue Hill Mining Project now introduces all smart contracts within the portfolio smart contract, thus reducing the amount of data per query and avoiding many of the transactions.

When it comes to size reduction, B.H. Mining refers to a subtraction of data in the logical structure of each Smart contract, weighing it among other structures. In this way, an important part of the data management can be transferred to a process that does not entail a price increase as is happening today with GAS.

This will result in a lower rate of transfer per smart contract on the network, as a solution and while the industry awaits Ethereum's proposal on how to solve this situation in the present and in the future in relation to the volatility of the GAS.

You can check the current price of GAS here

The delivery by the development team of this new version of the smart contracts and the publication of the addresses in the Kovan testnet occurs today October 21, also today going to the audit stage, where the smart contracts will be validated by a third.We will continue to communicate the milestones related to the articulation of this solution as the Blue Hill Mining Project communicates, but we can already say that despite the challenges that the industry has had, and will continue to face, the distribution of our token is imminent.