Micro Bitcoin (MBC) is a decentralized peer-to-peer (P2P) payment platform for the micro-economy. It is intended to be a means-ofpayment coin, created (forked) from the Bitcoin (BTC) blockchain, and is designed to be used as a fast, flexible and acceptable method of payment which can be used between peers and between traditional businesses and their customers.
Satoshi Nakamoto’s original plan for creating Bitcoin was to provide a decentralized system of payments which was not under the control of any centralized fiat-rendering organization. However, Bitcoin has found limited application for micro-payments because of the problems of scalability, slow transaction times and high transaction costs. An effective blockchain-based payment solution has to be cheap to use and provide near-instant settlement of transactions for value to be delivered. This is where Micro Bitcoin comes in. The vision of the team behind Micro Bitcoin is to fulfill Nakamoto’s original vision of creating a true Peer-to-Peer electronic-cash system for the microeconomy.
The forking process allows it to retain usage of a distributed ledger, while still providing the flexibility that is required to perform transactions at the micro-level without the hurdles of expensive fees and slow confirmations.
They believe that Micro Bitcoin would be a beneficial complement to the Bitcoin blockchain and thus the cryptocurrency realm. It is not designed to replace Bitcoin, but to create a variation that can complement Bitcoin and rely on its strong foundation to support a specific purpose in the cryptocurrency community.