In a time where cryptocurrencies are becomingly increasingly popular to create, most coins struggle to have a true mean of purpose. It can sometime seem like the industry has become cynical and is more worried about creating a way to make money out of the coins, rather than actually trying to change the way payments and finances work as well as benefiting the community.
Every once in a while however, a coin pops up that is not about creating a big profit quickly, but instead focuses on actually trying to make a difference and impact in the society that we live in today. One of those coins is the Bellacoin, which has been created by Kris Borodiansky, a 31-year-old self-taught coder and proud father of Bella.
The inspiration for creating Bellacoin comes from Borodiansky's daughter Bella, which allowed him to mix the two things that he loves the most - kids and technology. A quick glance at his website proves that, as the first section states "BellaCoin is a peer-to-peer crypto currency, like Bitcoin, which is based off of Litecoin which came to be inspired by my daughter, Bella. Her favorites? Unicorns and flowers. That’s what you’ll find on a BellaCoin."
We asked Borodiansky about the role that Bella plays in his everyday life and he explained "My daughter is my inspiration for everything. She's the air in my lungs and the sun I wake up to daily", a new and refreshing outlook on a industry which tend to focus more on the technical aspects rather than the human aspect.
Kris Borodiansky and his inspiration for Bellacoin - His Daughter Bella
Bellacoin however still provides what any altcoin needs and serves as a payment and money transferring method for users all across the world. It is based on the Litecoin and a total of 54 million Bellacoins will go into circulation, with around 2,985,800 coins already in circulation.
Bellacoin - The Coin Who Cares
Borodiansky got into cryptocurrencies around one-and-a-half years ago, when he read an article about the Bitcoin on Slashdot. He found the concept of cryptocurrencies to be interesting and decided to look further into the matter. A year's time later, he decided that he wanted to create his own altcoin and began working on Bellacoin.
"I have been working in technology my entire life. While that's nothing out of the ordinary, I wanted to do something bigger with my knowledge. Something bigger than myself, and for reasons beyond my own means," Borodiansky explained as the reason why he created Bellacoin.
Borodiansky created Bellacoin from scratch himself and also funded the entire project out of his own pocket. With a background in coding, it was not a big challenge for him to create Bellacoin as he explains, "I started with Linux 0.96 some years ago and along the way I kept learning different languages. I wanted to learn as much as I could and every time I learned something new I wanted to know more. I started with shell programming, then C/C++, Perl and finally PHP."
As Bellacoin is not a "regular" cryptocurrency, in the sense that it focuses more on the humanity aspect and we asked Borodiansky how the community reacted to the launch of Bellacoin.
"Well, in the beginning it wasn't entirely a warm welcome, considering at the time of the launch it was the time when new coins began to surface in multiples daily. Pair that with unicorns and flowers and you can see why that didn't sit well with a good portion of the community."
Borodiansky however added that the responses are improving on a daily basis, as he sees that the community begins to understand the purpose of Bellacoin and notices that it is a genuine coin and not one made just to profit from.
He understands that the community is sceptical to all the new coins that are being launched, as many today are simply created to make a quick buck, both for the miners as well as for the creator. We asked him how he feels about the coins with a low difficulty and huge block rewards.
"Well I absolutely feel that not even just now, but in general people are skeptical of any new coin introduced into this world. However, I would agree that the consensus isn't to mine for a long-term gain rather than a short-term pay day," Borodiansky explained.
"That is why people love these coins with monstrous block rewards. With those types of rewards, market manipulation at the right moment can make any one person quite wealthy" he added.
He noted that Bellacoin also had been subject to a pumped up value, as he saw the value go from around 500-600 Satoshi and all the way up to 2,000 Satoshi in a matter of 30 minutes. He believes that it was due to some of the earliest miners wanting to cash out and noticed a big sales-flow as soon as the price had been pumped up. Bellacoin has had a stable value ever since however and continues to market itself towards those believing in its purpose.
So what is the true purpose of Bellacoin? It is obvious that all cryptocurrencies are created with a purpose of being able to transfer funds across the globe, without having to use the regular banking system. But what is it that makes Bellacoin stand out from the crowd, we asked Borodiansky.
"The idea behind BellaCoin has been to attempt to work with charities and organizations that do accept donations. Upon receiving a donation, the donor as a token of gratitude would receive a voucher worth a certain amount of BellaCoin," he explained.
"The way I coded BellaCoin donors can easily download the wallet and enter the voucher code directly into the wallet and the coins will be sent to them automatically. They will then be able to see exactly what their coins are worth weighted against Bitcoin, Litecoin and sometimes Dogecoin directly in the wallet," Borodiansky added.
With free Bellacoins being given to people making a donation, it was logical to ask if there had been any sort of premine done on Bellacoin. Borodiansky explained that there was a 30,000 Bellacoin premine done, in order to be able to give away Bellacoins to people making a donation.
"I have been mining BellaCoin since launch for the sole purpose of donation. I don't expect my community to donate their coins whatsoever nor do I ask them to. Their coins are hard-earned and profits made from them are well-deserved."
Borodiansky hopes that giving free Bellacoin's to people donating toys, clothing and similar to organizations, will inspire more people to do good deeds on a daily basis and not just once a year, when there's a holiday or when they clear out their attics.
It is a struggle to set up specific arrangements with local charities, as many do not understand the concept of Bitcoin, let alone Bellacoin. Borodiansky will be creating an informational video to try and connect with the charity organizations and hopefully be able to set up arrangements with them in the near future.
In the meantime, Borodiansky is working on a payment module, which would allow merchants to accept Bellacoin as a payment method for their goods. He hope that it will create more attention towards Bellacoin and by time not only create more usability, but also get the ball rolling with more charity donations being done.
The Future of Bellacoin
While Bellacoin has not taken off as one of the major cryptocurrencies yet, Borodiansky believes that Bellacoin will find its natural place in the industry and will continue to develop on the coin and create usability for its users. He is well aware of the challenges that all cryptocurrencies face on a daily basis and will do what he can to ensure that Bellacoin doesn't run into trouble.
"I'll be making some drastic modifications to the algorithm itself as with the release of scrypt ASICs upon us, it's completely critical to explore other algorithms to ensure the security and stability of BellaCoin," he explained.
Another short-term goal that Borodiansky has is to give the Bellacoin wallet a makeover as in his own words "It's definitely not the prettiest". The Bellacoin wallet is already one of the most functional wallets out there, providing users with the latest news, hash rates, current difficulty, explorer function, exchange rates and where to exchange at as well as information about mining pools, all directly from the wallet system.
The current Bellacoin Wallet design
Further goals includes getting Bellacoin listed on more exchange sites, to provide more platforms for users to trade on, but also to provide more visibility towards the coin itself. Bellacoin can currently be traded on Bittrex, Bleutrade and SwissCex, but integrating more platforms is still of great importance.
Borodiansky however understands that everything cannot happen at all once and remembers an advice he got from his father "You can't do 10 things great at the same time. Focus on one and make it great". With this in mind, Borodiansky ensures that everything he develops is made correctly and not half-hearted.
We would like to encourage charity organizations to get in touch with Borodiansky and make an arrangement that could benefit your charity greatly. He can be reached on: firstname.lastname@example.org. For more information about Bellacoin, you can visit the official website of Bellacoin here.