Birdchain token is NOT AN ASSET NOR A SECURITY. It is a utility token. Birdchain tokens do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive dividends, other payments, intellectual property rights, or any other form of participation in or relating to the project described in this white paper and/or in Birdchain or any of its affiliates.
The Birdchain token holders are only entitled to use our services as described in this document if successfully developed, or to resell the tokens.
The BIRD token will be based on Ethereum, a blockchain-based computing platform. Ethereum allows smart contracts, distributed computer programs that can facilitate online contractual agreements in a cryptographically secure manner.
Smart contracts enable the existence of Birdchain token as a truly transparent and decentralized service. This technology also ensures Birdchain eliminates the need for intermediaries and having a central authority you must trust. Through smart contracts, the complex process of choosing peers, tracking delivery, and facilitating bidding/payment can be described in the contract, while running on the distributed Ethereum network and taking advantage of the blockchain features.
BIRDs are distributed and kept on the main Ethereum network. To optimise the transaction cost and performance, all micro transactions are processed off-chain, and only the final stakes are returned to the Ethereum network. We believe in the idea of keeping tokens on Ethereum and see it as a bank platform that is excellent for entering exchange markets.
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