A new store of value cryptocurrency
100M coins in 6k lines of code.
Simple elegant ASIC resistant blockchain.
Bamboo is designed with utmost simplicity, performance, and user-friendliness in mind and is 100% written from scratch in C++… it’s not just another boring fork or rebranding of an existing crypto project. Bamboo is GPU and ASIC resistant by leveraging the memory hard hash function Pufferfish 2.
Implementation.
Bamboo is written in less than 6K lines of code (Bitcoin has >100K). There are a few optimizations that we have made to help further our core objectives:
Switched encryption scheme from secp256k1 (which is used by ETH and BTC) to ED25519 – results in 8x speedup during transaction verification and public keys half the size (32 bytes).
25,000 transactions per block
90 second block time
ASIC resistant PUFFERFISH2 proof of work algorithm.
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Bamboo coin is intended to do as few things as possible and to do them incredibly well – it is a store of value coin that:
• Maintains account balances for billions of users.
• Provides extremely fast transactions between these accounts.
• Runs on low-cost hardware.
That’s it. We don’t aim to solve everything. We desire to keep the code simple.
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Bamboo is minted by miners who earn rewards. Mining payments occur using the following algorithm, which yields a total final circulation of 100M BMB:
• 50 BMB per block until block 1M
• 25 BMB per block for blocks 1M to 2M
• 12.5 BMB per block for blocks 2M to 4M
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A key design objective of Bamboo is low compute usage while maintaining a high number of transactions per second. To reach these performance goals Bamboo uses an alternative digital signature system known as ED25519 as a replacement for Bitcoin and Ethereum’s secp256k1. ED25519 has several attractive properties for crypto-currency use cases:
• Fast signature verification
• Batch signature verification
• Fast signing
• Small public keys
• Performant on low-cost IoT devices