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Bitbar was designed to be a storage of wealth in the same way Bitcoin is,however with the addition of Proof of Stake another level of Security was added.This mechanism gives users who don't have access to specific mining hardwarethe ability secure the network as a shareholder by staking, while generatingrewards at a level of inflation to mimic the real world.
Bitbar was built from the Novacoin codebase and still uses the Scrypt hash algorithm.The continuous exponential difficulty adjustment and reward adjustment came from Peercoin, which makes Bitbar mining very ASIC resistant - as hashrate increases, the difficulty increases to maintain to 10 minute block time, and block reward decreases.
Based off of Balthazar’s Novacoin code, as well as RareCoin and Fairnova projects, Bitbar also has a 5% annual PoS return on staked coins.Proof of Stake is not only good for investors, but also an energy efficient way to generate blocks for the blockchain.There was a de-synchronization issue that was noticed and fixed in Bitbar by the developer of Peercoin, Sunny King.
