Skip to main content

Frequently Asked Questions

General​

What is Bitmark?​

Bitmark is a cryptocurrency that has been running since July 2014. It combines:

  • A stable proof-of-work blockchain
  • Multi-algorithm mining (8 algorithms)
  • A reputation + currency system called Marking

How is Bitmark different from Bitcoin?​

FeatureBitcoinBitmark
Block time10 minutes2 minutes
Algorithms1 (SHA256D)8 (multi-algo)
Max supply21 million~27.58 million
Special features-Marking system
DifficultyEvery 2016 blocksEvery block (DGWv3)

No. These are completely separate projects that happen to share a name. This Bitmark (project-bitmark) is a cryptocurrency focused on marking and reputation. The other is a digital property rights platform.

When was Bitmark launched?​

July 13, 2014. The genesis block timestamp reads:

"13/July/2014, with memory of the past, we look to the future. TDR"

Was there a premine or ICO?​

No. Bitmark had a fair launch with no premine, no ICO, and no token sale. All coins were distributed through proof-of-work mining.

Marking​

What is Marking?​

Marking is a system where "likes" carry real economic value. When you mark content, you transfer actual currency to the creator, building both your reputation and theirs.

How do marks work technically?​

Marks use Bitcoin's OP_RETURN feature to store a 37-byte payload containing:

  • Magic bytes ("MRK")
  • Version number
  • Type code
  • SHA256 hash of the reference

Can anyone create marks?​

Yes! Anyone with Bitmark can create marks. The minimum amount is very small (around 0.001 BTM).

Where is mark data stored?​

The mark hash is stored on-chain (37 bytes). The original reference (URL, etc.) should be stored off-chain in a reference database.

Mining​

What algorithms can I mine?​

Bitmark supports 8 algorithms:

  1. Scrypt - ASIC/GPU
  2. SHA256D - ASIC
  3. Yescrypt - CPU/GPU
  4. Argon2d - CPU
  5. X17 - GPU
  6. Lyra2REv2 - GPU
  7. Equihash - GPU/ASIC
  8. CryptoNight - CPU/GPU

Which algorithm is most profitable?​

It varies based on your hardware and current network conditions. Generally:

  • CPU: Argon2d, Yescrypt, CryptoNight
  • GPU: X17, Lyra2REv2, Equihash, Scrypt
  • ASIC: Scrypt, SHA256D

Can I merge mine Bitmark?​

Yes! All 8 algorithms support merge mining. You can mine Bitmark while mining Bitcoin, Litecoin, or other compatible chains.

What is the block reward?​

Currently around 2.5 MARKS per block (varies with emission schedule and scaling factor). Each algorithm contributes 1/8 of the emission.

Wallet​

What wallets support Bitmark?​

  • Bitmark Core - Full node wallet (desktop)
  • Electrum-Bitmark - Light wallet (desktop)
  • Brain Wallet - Web wallet
  • Paper Wallet - Cold storage

Where can I get Bitmark?​

  • Mine it yourself
  • Trade on exchanges (check community for current listings)
  • Receive marks for creating valuable content

Are Bitmark addresses compatible with Bitcoin?​

No. Bitmark uses different address prefixes:

  • Mainnet: Starts with b
  • Testnet: Starts with u

Do not send Bitcoin to Bitmark addresses or vice versa.

Technical​

What is DGWv3?​

Dark Gravity Wave version 3 is Bitmark's difficulty adjustment algorithm. It adjusts difficulty every block, responding quickly to hashrate changes.

What are Surge Protector and Resurrector?​

Surge Protector: Activates after 9 consecutive blocks from the same algorithm, reducing difficulty to prevent domination.

Resurrector: Activates if an algorithm has no blocks for 160+ minutes, reducing difficulty to revive the algorithm.

What is the Subsidy Scaling Factor?​

A mechanism that adjusts block rewards based on network hashrate to maintain predictable emission rates.

Is Bitmark code audited?​

Bitmark is based on Bitcoin Core, which has been extensively reviewed. The multi-algorithm and marking additions follow Bitcoin development practices.

Network​

How many confirmations should I wait?​

  • Small amounts: 1-3 confirmations
  • Medium amounts: 6 confirmations
  • Large amounts: 10+ confirmations

With 2-minute blocks, 6 confirmations = ~12 minutes.

What ports does Bitmark use?​

  • P2P: 9265 (mainnet), 19265 (testnet)
  • RPC: 9266 (mainnet), 19266 (testnet)

How do I find peers?​

Bitmark has DNS seeds and hardcoded node lists. You can also manually add nodes:

bitmark-cli addnode "seed.bitmark.co" "add"

Troubleshooting​

My wallet won't sync​

  1. Check internet connection
  2. Verify peers: bitmark-cli getconnectioncount
  3. Add manual peers: bitmark-cli addnode "seed.bitmark.co" "onetry"
  4. Try restarting: bitmark-cli stop && bitmarkd

"Database corrupted" error​

bitmarkd -reindex

I sent to wrong address​

Cryptocurrency transactions are irreversible. If you sent to an invalid address, the funds may be lost. If sent to a valid wrong address, only the owner of that address can return them.

My balance is wrong​

  1. Wait for full sync
  2. Check confirmed vs. unconfirmed
  3. Try rescanning: bitmarkd -rescan

Community​

Where can I get help?​

How can I contribute?​

  • Report bugs
  • Submit pull requests
  • Improve documentation
  • Help others in community channels
  • Run a node

See Contributing Guide for details.

Is there a bounty program?​

Check community channels for current bounty programs and development funding initiatives.