The Bether Multisig Wallet has been affected by the recently discovered vulnerability in Parity.
The total amount of funds from Bether contributors ( 202.122540786 Ether ) has been drained.
All collected funds from Bether contributors will be promptly returned in full. It is a very unhappy event but a security bounty had been previously allocated for any bug found in the code. The bounty can cover 100% of the stolen funds and funds will be returned to their owners. We will soon launch a new contract after a security review.
Nevertheless, the great news is that no security bugs where found in the Bether Smart Contract and that the bug found which affected thousands of users involves the third party method for creating the multisig wallet and not the Bether Smart Contract itself. Kindly understand that this bug from the creation of the multisig wallet was difficult to forecast and affected a great number of parties in the Ethereum eco-system.
Please, do not send ETH to the Bether Smart Contract until further notice.More info at Bitcointalk
Smart Automated Mining
Mining is determined by a mathematical formula that rewards BTH to all miners in proportion to the amount of ETH they have each sent to the Bether Smart Contract.
0% Pre-Mined / 0% Founder's Allocation
Bether is 100% mineable via the Bether Smart Contract. Founders do not receive BTH and there are no bounties. ETH that are received by the Bether Foundation will be managed by the community thanks to a voting mechanism integrated in the smart contract.
40x Faster than Bitcoin
By deploying the Bether Smart Contract on the Ethereum Network, BTH transactions are on average 40x faster than Bitcoin transactions.
21 Million BTH Total Supply
Total number of BTH that will be issued to miners by the Bether Smart Contract.
50 BTH initial reward
Mining rewards commence at 50 BTH per block on the Ethereum Network until the next halving.
Halved every 210,000 blocks
The reward is halved approximately every 36 days.
Smart Automated Mining
Send your ETH and claim your mined BTH after 210,000 blocks.
ERC20 Token Standard
Bether is built using the ERC20 Token Standard.
In Math We Trust
Bether is based on Math - it is a trustless and decentralized token.
What is Smart Automated Mining?
It is an open-source, math-based process defined in the Bether Smart Contract from inception. It does not require hardware or monitoring - a simple ETH transaction triggers automated mining.
How does it work?
The user sends any amount of ETH to the Bether Smart Contract, and in exchange, the contract assigns the user (now a miner) a theorical Hash Rate.
Using the theorical Hash Rate, the Bether Smart Contract allocates the amount of BTH to each miner every time a new block is discovered in the Ethereum Network.
The miner's resulting BTH rewards per block will be proportional to the amount of ETH sent by him/her relative to the total amount of ETH sent by all miners.
How and when is the Hash Rate calculated?
The Hash Rate is updated instantly when the miner sends any amount of ETH to the Bether Smart Contract. Each Wei sent to the contract gets you 1 Hash.
What is the BTH reward per block?
The intitial reward is 50 BTH per block and halves every 210,000 blocks - which is approximately every 36 days.
How are the Miner's Rewards calculated?
The BTH Reward formula is:
[block_reward] * [miner_hashrate] / [total_miners_hashrate] per block on each halving.
The resulting amount from the Reward formula, will be the amount of BTH allocated to the miner available for claim on each halving.
How long does it take before I can claim my BTH?
It takes about 36 days to mine the first BTH. Once contributed, you must wait 36 days to claim your first BTH.
How much BTH will be issued in total?
A total of 21 Million BTH will be issued and assigned to miners over the entire distribution period of 13,440,000 blocks, approximately 6 to 7 years. No more than 21 Million BTH will ever be issued.
How do I claim my BTH rewards?
Rewards are claimable after each halving in the same offset block of the first contribution transaction.
To claim your BTH rewards, send a transaction to the Bether Smart Contract Address while calling the claim() function, and you will instantly receive your claimed BTH rewards. The most easy way, is to claim your BTH rewards from the Bether Wallet front-end.
If you do not claim your BTH rewards, they will remain in the Bether Smart Contract until claimed.
Do I need special hardware or skills to become a miner?
No. You just need to send any amount of ETH to the Bether Smart Contract, you can do so by yourself or using the contribute feature in the Bether Wallet.
Is this an Initial Coin Offering?
No. The Bether distribution plan is governed by the Smart Automated Mining process embedded in the Bether Smart Contract. It is open-source and purely math-based.
We recommend that you perform proper due diligence before sending your tokens away, including but not limited to Bether.
Are there bounty rewards?
Since the BTH distribution plan is math-based and defined by the Bether Smart Contract from inception, it does not offer any Translation-, Social- or Marketing-related bounties.
The only bounty available is the Bug Bounty Program, which will be funded by the Bether Foundation.
When does is start?
The Bether Smart Contract has already been deployed in the Ethereum Network. The code is available for review on Github. The release is planned to coincide with the mining of Ethereum block 4,000,000-, which will occur on 9th of July, 2017. Any ETH transactions occuring before then will be returned to the sender (minus network fees).
Is Bether Pre-mined?
No. 100% of Bether tokens will be mined via the Smart Automated Mining code defined from inception by the Bether Smart Contract.
How large is the Founder's Allocation?
There is no Founder's Allocation or reserve of any kind. Bether is 100% mineable and designed to maintain the unique attributes of Bitcoin.
When will it be listed on exchanges?
We cannot confirm an exact date when BTH will be listed, but we are already in discussions with several exchanges.
Who is behind Bether?
Bether was conceived, developed and deployed by a single entity who decided to remain anonymous. Replicating the ideological view of the creator of Bitcoin, that entity isn't involved in Bether any longer.
Today Bether is maintained by the Bether Foundation, that will be consensusly managed by it's members, the community and miners thanks to the voting mechanism integrated in the Bether Smart Contract.
What will happen with all the ETH collected?
All the ETH collected from the Smart Automated Mining will be treated as donations to the Bether Foundation, which is responsible for the future improvement and development of Bether.
Any other questions?
We are available at [email protected]