Contents 1. INTRODUCTION 2. PROOF OF AMBASSADOR THE BITCOIN ORIGIN DISTRIBUTION ECOSYSTEM 3. REWARDS POOL

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2 Disclaimer The purpose of this Position Paper is to present information relating to the technical aspects of the Bitcoin Origin project to potential token holders in light of the proposed fork. This information is not intended to be exhaustive and does not constitute a contractual relationship. Its sole purpose is to provide reasonable information to potential token holders in order for them to determine whether to undertake, of their own accord, a thorough analysis of the company with the intent of acquiring Bitcoin Origin tokens. This Position Paper does not constitute a prospectus of any sort or a solicitation for investment, nor does it in any way amount to an offering or a solicitation of an offer to buy any securities in any jurisdiction. It is not, therefore, composed in accordance with, and is not subject to, laws or regulations designed to protect investors in any jurisdiction. Certain statements, estimates and financial information contained in this Position Paper constitute forecasted (predicted) statements or information. Such predictions involve both known and unknown risks and uncertainties which may cause actual events or results to differ materially from the estimates or the results implied or expressed in such forward-looking statements. This English language Position Paper is our primary official source of information about the token launch. The information herein may from time to time be translated into other languages or used in the course of written or verbal communications with existing and prospective customers. In the course of such translation or communication, some of the information may be lost, corrupted or misrepresented/mistranslated. The accuracy of such (alternative) communications cannot be warranted. In the event of any conflicts or inconsistencies between such translations and communications and this official English language Position Paper, the provisions of this English language original document shall always prevail. The Bitcoin Origin Organization, Bitcoin Origin Holdings and its subsidiaries disclaim any and all responsibility and liability to any person for any loss or damage whatsoever arising directly or indirectly from: 1. reliance on any information contained in this paper when making investment or tax decisions, 2. any error, omission or inaccuracy in any such information contained herein that results in losses of any kind whatsoever, or 3. any action resulting from the contents of this document.

3 Executive Summary The Bitcoin Origin Project has created the world s first simultaneous multi-fork of the top 5 proof-ofwork (PoW) cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. The Bitcoin Origin team has created a brand new way to achieve consensus called Proof-of-Ambassador or PoAm with an increased transactional throughput of up to 15,000 transactions per second (THs). With the introduction of a reputation based consensus, holders of the Bitcoin Origin (XBO) token will be able vote for Ambassadors and stake their tokens. This staking method will provide profitability comparable to PoW early mining returns. The Bitcoin Origin multi-fork and daily distributed token economics will ensure wide adoption, while greatly benefitting early adopters. The project has been privately funded with the 5-way cryptocurrency fork serving as an investor friendly distribution method, as opposed to an ICO. Bitcoin Origin utilizes the latest blockchain technologies (Privacy, Crosschain, Multi-state, Layered-chains and Namespace-sharding) with Ethereum Virtual Machine (EVM) compatible smart contracts. Bitcoin Origin has also created a Javascript compiler for EVM contracts that allows for easy development of features in the future. With the introduction of Serverless Nodes, the ecosystem of decentralized applications (dapp s) built on Bitcoin Origin will create value for investors and bring Blockchain-as-a-Service to the broader cryptocurrency community. After launching, Bitcoin Origin will actively pursue partners and help them to build solutions on top of the Bitcoin Origin architecture, which will in turn help to grow the Bitcoin Origin community even further. The native state implementation validated by the Bitcoin Origin network (Serverless Nodes) will bring blockchain technology to business communities, and will assist corporates to transition from legacy systems to Blockchain-based solutions - Origin s Blockchain-as-a-Service. The development team have years of experience with crypto-related development programs, and have been researching the Namespace-Sharding and Multi-State technologies since The advisors to the project include academics, entrepreneurs, cryptographers and leading experts in the crypto and wider business community.

4 Contents 1. INTRODUCTION 1.1 Why a Fork adds Value 1.2 The Bitcoin Origin token 2. PROOF OF AMBASSADOR THE BITCOIN ORIGIN DISTRIBUTION ECOSYSTEM 3. REWARDS POOL 4. INNOVATIONS BLOCKCHAIN AS A SERVICE (BAAS) 4.1 Multi-state Engine 4.2 Multi-layered blockchain 4.3 Ethereum Token Bridge 4.4 TDN (Transaction Delivery Network) 4.5 Serverless Blockchain 4.6 Enterprise Solutions: Blockchain-as-a-Service 5. TOKEN ECONOMICS 5.1 Token release strategy 5.2 Supply control strategy 5.3 Pricing milestones 5.4 Ambassador strategy 5.5 Marketing strategy 5.6 Supply metrics 6. MARKETING 6.1 Marketing Strategy Selling Points 7. BITCOIN ORIGIN ORGANISATION 7.1 Bitcoin Origin Organisation Operations 7.2 Blockchain Incubator 7.3 Bitcoin Origin ICO Funding 7.4 Blockchain Non-Profits 7.5 Blockchain Education Fund 8. ROADMAP

5 1. Introduction Bitcoin Origin is the world s first penta cryptocurrency fork with the clear goal to make real-world serverless blockchain adoption possible. The Bitcoin Origin project has been built on and improved the features of existing PoW cryptocurrencies, and has integrated the best of these features in Bitcoin Origin. This improves the overall utility, functionality, scalability, and lack-of-privacy inherent in the PoW cryptocurrencies, and delivers serverless Blockchain-as-a-Service projects to the corporate sector, while removing some of the dangers inherent in this consensus mechanism. The improved token features are complemented by the Proof-of-Ambassador consensus mechanism, which rewards coinholders with returns that exceed those found in traditional PoW mining operations. Holders of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash will be awarded a proportional amount of Bitcoin Origin. At the time of the fork, USD values for each of the 5-PoW forked coins will be locked, and that value will be used to determine the quantity of coins awarded to existing owners proportionally. Multi-Layered Heard of side-chains? In Origin, side-chains are inherently part of the infrastructure to allow for scaling considerations. Multi-State Users can use their own native token for fees and block rewards. Each state has its own namespace, its own VM, and its own ecosystem, supported the the Bitcoin Origin network. Cross-Chain Bitcoin Origin has developed an Ethereum token bridge, allowing Ethereum tokens to be converted to native tokens in the multi state engine. Proof-of-Ambassador The Bitcoin Origin community staking ORI tokens will be able to Vote. The Ambassadors are required to campaign for votes and in turn rewarded generously for their campaigning efforts. Serverless Blockchain Through the Bitcoin Origin network and it s technology, any member of the public has the ability to introduce their own entirely serverless blockchain. The blockchain is powered by Bitcoin Origin s Network Validators (Ambassadors).

6 1.1 WHY A FORK ADDS VALUE Bitcoin Origin is a self-funded private enterprise and has thus decided to not do an ICO. Since the lack of an ICO to launch the product might have caused confusion about how to distribute tokens, Bitcoin Origin decided to distribute tokens to the broader crypto-community in the following fair and unbiased manner. Bitcoin Origin therefore pursued the idea of the multi-fork as the best possible solution. The fork will occur at a predefined block height, and it will be actioned publically in After the fork, every holder of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash will be able to claim their tokens online with our easy to use claiming tool. Further updates will be communicated through our social channels. MULTI-FORK Innovative, 5-way multifork of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash CONSENSUS Environmentally friendly coin production through our unique Proof-of-Ambassador consensus STAKING Staking returns comparable to PoW mining - returns greatly reward early adopters of Bitcoin Origin

7 1.2 THE BITCOIN ORIGIN TOKEN At a predetermined block height, the Bitcoin Origin team will simultaneously fork the Distributed Ledgers (DLT s) of the top 5 PoW cryptocurrencies. Holders of each of the forked tokens will be awarded Bitcoin Origin (XBO) in proportion to the United States Dollar (USD) value of their original holdings. The team will create a range of smart contracts tied to the exact USD value of each coin at the time of the fork. These smart contracts will then distribute the new Bitcoin Origin tokens to whitelisted owners of the 5-forked PoW coins in proportion. Token Allocation Forked Coins Supply 35,71% 12,500,000,000 Block Reward Supply Bitcoin Origin Organization Supply 31.43% 11,000,000, % 3,000,000,000 OPEX Supply 8.57% 3,000,000,000 Investors Supply 10.00% 3,500,000,000 Founders Supply 5.71% 2,000,000,000

8 2. Proof of Ambassador THE BITCOIN ORIGIN DISTRIBUTION ECOSYSTEM Bitcoin Origin has implemented a fee distribution system that allows any origin (XBO) holder the opportunity to benefit from participating in the Bitcoin Origin network, provided that they meet the minimum tiered-staking requirements. Approximately 15% of the total supply of Bitcoin Origin will be awarded to participants per year, allocated pro-rata daily. Early adopters are greatly rewarded in the Bitcoin Origin ecosystem as the rewards system is linear throughout the distribution period. 5% of the rewards pool is allocated to the ambassadors. The remaining 95% forms part of the Bitcoin Origin reward pool. Proof-of-Ambassador is a consensus mechanism that is a hybrid of Proof-of-Authority and Proof-of- Stake. The combination of the two eliminates the need for coin holders to have advanced and expensive machinery in order to form part the network. Anyone, regardless of their hardware specifications, is able to stake and thus benefit from the reward system. The rewards are proportional to the amount staked, not the cost or computational capacity of hardware used. Bitcoin Origin s Proof-of-Ambassador consensus philosophy is that reputation is far more effective in supporting and maintaining a commercial ecosystem than unknown validators are. Although PoW s decentralized nature in design is supported by multiple validators, in the form of multiple miners, mining operations have become far more centralized recently. This has exposed these types of consensus systems to dangers from their inherent decentralised properties, and therefore other consensus mechanisms are gaining support. Bitcoin Origin s Proof-of-Ambassador consensus is based on pre-approved authoritative validators with a Proof-of-Authority approach. Ambassadors will have to continually campaign and market the Bitcoin Origin ecosystem in order to retain their status. Bitcoin Origin coin holders vote for their preferred Ambassadors on a monthly basis. By staking Bitcoin Origin tokens, the community is given the power to vote for the Ambassador who has represented Bitcoin Origin in the most effective manner. This ensures that a trusted validator must maintain a good public reputation. Therefore Proof-of-Ambassador, the diversified and autonomously evolving reputation-based consensus is the preferred consensus mechanism for Bitcoin Origin. Beyond vigorous vetting of Ambassadors and reputational prerequisites, additional validator benchmarks may be required and verified by the community. These include the following five benchmarks: Proof of Community (Proof of Reputation), Proof of Stake, Proof of Identity, Proof of Environment, and Proof of Capacity among others. These ensure that the Bitcoin Origin network maintains the highest levels of speed and scalability, as well as of verifiable trust. Ambassadors rankings will be displayed on a live leaderboard on the Bitcoin Origin website. Ambassadors must secure votes, act in a manner beneficial to the ecosystem and always remain active so that the community will continue to vote for them. Furthermore, they need to effectively campaign for the community votes through submitting content to their network. This content may be published on various platforms including Youtube, Facebook, blogs, and will be used to support the organic marketing efforts of the active community, thereby positively promoting the Bitcoin Origin Network.

9 The Bitcoin Origin Organisation understands that this will require effort and will thus reward ambassadors with 5% of the daily reward payout for their contribution to the Origin community. It is expected that many industry specialists and influencers will be incentivised to join our network of ambassadors, thereby in turn increasing their own networks and reach. A total of 20 Ambassadors are selected from our trusted community members that are required to campaign every month to reach the Ambassador Pool rewards. The founding company will always hold 3 of these Ambassador places. The bottom 3 places each month will lose their Ambassador status (and the associated rewards) with 3 new entries introduced every month to keep the rotation balance, and to incentivise the poorest performers to increase their efforts and garner more votes. PROOF OF AMBASSADOR AMBASSADORS COMMUNITY Ambassadors include public influencers who actively and continually campaign and promote the Bitcoin Origin Project Ambassadors and their rank are voted for by Bitcoin Origin stakers Each Ambassador s ranking will be determined by the votes of stakers of Bitcoin Origin tokens (XBO) Ambassadors are authoritative and reputable network validators Bitcoin Origin will launch with a minimum of 20 Ambassadors Verified Public Identity and Reputation help to hold Ambassadors accountable The bottom 5 Ambassadors are replaced every month to ensure new participants in the program Ambassadors have a financial incentive to maintain integrity of the network (5% of rewards pool) The community manages the ambassador program to ensure decentralized transparency

10 3. Rewards Pool Earnings derived from the Rewards Pool are as follows: Staking Pool 70% the Rewards Pool All Origin holders who stake their tokens Ambassadors Pool 5% of the Rewards Pool Split between the top 20 monthly Ambassadors based on their ranking Voting Pool Only staking coinholders 25% of the Rewards Pool Voting starts on the 1st of every month, and closes on the 25th of every month Voting is not a requirement, however only community members participating in the voting will benefit from rewards in this pool

11 4. Innovations BLOCKCHAIN AS A SERVICE (BaaS) 4.1 MULTI-STATE ENGINE Bitcoin Origin is considered a multi-state engine (MSE). A multi-state engine does not facilitate a single state/blockchain pair, but instead allows for multiple state/blockchain pairs. The addition of this multi-state results in economic abstraction by validators. This allows each token to be used natively for fees, contracts, and transactions. The multi-state also results in some horizontal scalability, although not to the point where we could consider it a full sharding solution. 4.2 MULTI-LAYERED BLOCKCHAIN Bitcoin Origin has adopted a multi-layered blockchain approach. The Bitcoin Origin root-chain is at the base, and its only purpose is to facilitate inter-chain communication. The other multi-chains branch from this root-chain. These multi-chains are for specific uses, they are case deployable chains to facilitate customisable native token feature needs. Not all chains need the same functionality, since each functionality addition creates additional overhead. Bitcoin Origin has positioned specific chains dedicated to specific services. Interaction will be abstracted from the user perspective, while the underlying technology will dictate the process flow. Therefore the system is customisable and new features can be built into the system as the need arises. 4.3 ETHEREUM TOKEN BRIDGE Bitcoin Origin has developed an Ethereum token bridge, allowing Ethereum tokens to be converted to native tokens in the multi-state Bitcoin Origin engine. This allows any current ICO running on Ethereum to migrate their tokens to their own chain. 4.4 TDN (TRANSACTION DELIVERY NETWORK) Bitcoin Origin considers insufficient network latency and propagation a severe constraint to high scalability in blockchain based solutions. Bitcoin Origin has added a layer underneath the blockchain ecosystem that will act as an easily available transaction and block memory store. The bootnodes will facilitate this special functionality and be the primary decentralized source for transactions and blocks. Normal P2P propagation can occur after this interaction, but these nodes may be slower in principal.

12 4.5 SERVERLESS BLOCKCHAIN Bitcoin Origin has designed a native blockchain implementation referred to as multi-chain. ERC20 tokens are a list of accounts and balances included within the EVM. Transactions to transfer or purchase these tokens are underpinned by the Ethereum blockchain, transaction fees are paid in ETH, and smart contracts are executed in the Ethereum VM, paid for with ether gas. The Bitcoin Origin solution encapsulates blockchain namespaces, which creates a native multichain. This solution allows fees to be paid for in the native coin, and native smart contracts to be concluded in the native coin. The result is that Bitcoin Origin becomes an infrastructure provider, allowing adopters to create their own native blockchain. The Bitcoin Origin team has developed this technology so that a user with minimal technical skill can create a blockchain. 4.6 ENTERPRISE SOLUTIONS: BLOCKCHAIN-AS-A-SERVICE The Blockchain space has had many advancements that allow enterprises to transact. However, the cost of transactions when using any of the current native blockchains is a hindrance for many businesses, thus making it infeasible for enterprises to transact seamlessly. To solve this problem, Bitcoin Origin is providing Fixed Price Enterprise services so that companies can utilize the Bitcoin Origin Infrastructure and transact in a secured environment, free from transaction fees - Blockchainas-a-Service. Payments can be done through conventional methods including Bitcoin Origin.

13 5. Token Economics The economic model consists of key components, and these strategies should allow Bitcoin Origin to establish foundational pricing support on most major exchanges. Token value will be maintained by limiting the available supply, and by creating additional demand through a broad range of marketing efforts, community building programs, endorsements, and ambassadorial activities. Origin will initially enter the market as an ERC20 Token, listing on most major exchanges. Via the token economics model, Bitcoin Origin will be able to create a sustainable release program spread over two years. The total coin allocation of origin is distributed pro-rata on a daily basis, for both the forked tokens and the Bitcoin Origin rewards. The remaining 11 Billion coins will provide profitability to the stakers and participants of the Proof-of-Ambassador system. 17,123,288 Bitcoin Origin tokens will be available for claiming on a daily basis. The public will be required to whitelist every day in order to access our easy to use claiming tool. The utmost attention has been given to claiming security and at no point will users be required to hand over their private keys. 5.1 TOKEN RELEASE STRATEGY The Bitcoin Origin Organisation will limit the daily claim amounts of origin coins based on 5 the newly forked coins. Token release will be based on the snapshot of the values of forked coin holdings on the launch date. At the snapshot date: The total value of all 5 forked coins is recorded in USD this is proportional to 12.5 billion XBO The value of the 5 forked coins of each coin holder is recorded in USD The proportion of each holder s value of the 5 forked coins to the total value of the 5 forked coins is determined Origin tokens are allocated to all holders according to their proportion After launch: Coin holders can claim origin (XBO) proportional to their snapshot holdings on the website daily Less than 0.14% of the total supply of origin coins are created daily Month 1: Coin holders will only be able to claim origin (XBO) proportional to the value of 0.5 BTC (at snapshot date) per day in the first month If a coin holder had holdings of all 5 forked coins to the value of 100 BTC at the snapshot, they will only be able to claim 0.5 BTC worth of origin per day in the first month (this value will increase)

14 At launch 99%* of the total coin allocation will not have been created, with 50% set to be created in year 2. By allowing all holders the option to claim only small amounts in the early tranches, liquidity is spread very thinly on the exchanges and large holders are prevented from creating massive dumps. This ties in with our economic model as it assists the pricing point, which is further positively impacted by large exchanges buying power. 5.2 SUPPLY CONTROL STRATEGY 11 Billion Bitcoin Origin Tokens will be awarded linearly in rewards over a 2 year period, with the same number of tokens distributed every day. This is however allocated to an everincreasing pool of stakers. This pool of stakers starts out small, but it grows on a daily basis as new coins are claimed and released. This may allows early stakers of Origin to benefit greatly as the same amount of daily rewards is split between a smaller pool of stakers initially. Staking returns during the first 12 months of Bitcoin Origin s launch will incentivise coinholders to stake their coins, which should increase demand for the token. The Founders tokens will only be released at the end of the two year release period. This results in an expected return of ~383.56% in tokens in the first six months excluding capital growth assuming only 50% of the network is staking. The potential profitability of this model will create excitement and buying pressure necessary to reduce available supply on the exchanges and should positively affect the price. *Assuming 50% of all Bitcoin Origin Tokens are staked.

15 5.3 PRICING MILESTONES There will be four major pricing milestones in the rollout strategy. Launching as an ERC20 token on the exchanges allows origin coinholders to capitalize on the following four events, which positively influence the price of the Bitcoin Origin token over time: Testnet launch Mainnet launch Code release Strategic partnerships 5.4 AMBASSADOR STRATEGY Ambassadors must secure votes, act in a manner beneficial to the ecosystem and always remain active so that the community will continue to vote for them. Furthermore, they need to effectively campaign for the community votes through submitting content to their network. This content may be published on various platforms including Youtube, Facebook, blogs, and will be used to support the organic marketing efforts of the active community, thereby positively promoting the Bitcoin Origin Network. It is expected that many industry specialists and influencers will be incentivised to join the network of ambassadors, thereby in turn increasing their own networks and reach. This will increase coverage of information about origin and the Bitcoin Origin platform, thereby supporting or increasing demand. 5.5 MARKETING STRATEGY Bitcoin Origin will utilize marketing strategies that include community building, influencers, paid marketing, paid content creation, conventional marketing, event sponsorship, reward giveaways, bounties etc., managed in-house as well as by multiple well-known strategic partners that are already entrenched in the Crypto-space. Selling points (see the marketing section) support and further increase the impact of marketing efforts for the token and the Bitcoin Origin platform. 5.6 SUPPLY METRICS Full metrics are available at all times to the current Bitcoin Origin network, so that the community has a transparent overview of the current token economics. These metrics include the total supply of tokens, the current circulating supply (how many tokens have been released) and the current live statistics of the available supply (how many tokens are available on the market and are not vested). These figures greatly influence the pricing points and are of significant value for coin holders and investors.

16 6. Marketing Bitcoin Origin will utilize marketing strategies that include community building, influencers, paid marketing, paid content creation, conventional marketing, event sponsorship, reward giveaways, bounties etc., managed in-house as well as by multiple well-known strategic partners that are already entrenched in the Crypto-space. 6.1 MARKETING STRATEGY SELLING POINTS Selling points for Bitcoin Origin include the following: Lack of ICO Self funded Green objective Claiming coins brings rewards at minimal costs The world s first multi-fork Ambassadors increase coverage and exposure Incentives for technical node users to secure the network Profitability calculator (website) Advantages over PoW Scarcity of tokens created through token economics (see 5.) Enterprise applications (see 4.6) Blockchain-as-a-Service (see 4.6) GREEN OBJECTIVE The Bitcoin Origin project was founded with a green objective in mind, with a clear goal to reduce the energy consumption currently supporting Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash mining activities. In order to compete with energy dense ASIC and GPU mining hardware, one key objective will be the PoAm system for coin creation, which will be an attractive feature for prospective users. OWN CAPITAL The experienced Bitcoin Origin founding team truly believes in the project and as such have placed their own capital at stake. Bitcoin Origin has been funded entirely in house thus far and there is no ICO planned for this project.

17 7. Origin Organisation The Bitcoin Origin Organisation will be registered in a jurisdiction favourable to new legislation created to regulate ICOs and cryptocurrencies in general. The registration process brings regulatory certainty to the project, a massive advantage in the otherwise largely unregulated cryptocurrency sector. The Bitcoin Origin Organisation will be mandated to: oversee normal Operations of the organisation Manage and disburse charitable donations Provide seed funding to crypto-incubators and crypto-innovation projects Serve as a facilitator of new crypto-technologies ICO development programs Advance blockchain technology and Grow the Bitcoin Origin community as a whole The Bitcoin Origin Organization will be allocated coins at the time of the fork that will be used mainly for investments in network development as well as profitable business opportunities. 7.1 BITCOIN ORIGIN ORGANISATION OPERATIONS The for-profit Bitcoin Origin Organisation will be run and managed by knowledgeable and experienced Crypto-Enthusiasts, business experts and academics. Interdisciplinary teams have been created to cater to the needs of the Bitcoin Origin ecosystem ranging from engineering, customer support, infrastructure development and maintenance, marketing, HR, PR and finance. The project s daily operations will be performed by members of the Bitcoin Origin Organisation as well as selected strategic partners. Allocated coins will be expended on: Marketing and public relations of Bitcoin Origin OPEX requirements Bitcoin Origin roadmap commitments (see 8.) Oversight capacity Facilitating new product development to - drive innovation - ensure long term viability 7.2 BLOCKCHAIN INCUBATOR The Blockchain incubator will assist the developing and funding of blockchain-based projects around the world. The objective is to focus on investments and incubators for crypto-based startups representing most industry sectors. Incubator services will provide seed funding, marketing/pr, legal, tech and business advice.

18 7.3 BITCOIN ORIGIN ICO FUNDING The Bitcoin Origin Organisation will, in conjunction with the Blockchain Incubator, fund approved ICOs on our own Token Standard backbone. ICO s interested in seed funding will apply to the Bitcoin Origin Organisation. Should ICO s successfully pass the due diligence process, funding and assistance may be made available. 7.4 BLOCKCHAIN NON-PROFITS The Bitcoin Origin Organisation will donate a portion of profits to the established and well-known charitable organisations that accept cryptocurrencies. 7.5 BLOCKCHAIN EDUCATION FUND The Bitcoin Origin Organisation will team up with public and private education institutions to develop and provide blockchain and cryptocurrency courses, to shape the future of the cryptoverse.

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