The Bidipass token based on Ethereum ERC20
The BDP Token Model
The concept of BDP model comes from the heterogeneous nature of the BidiPass blockchain. This requires financial value in the BidiPass private Ethereum setup for rewarding the Miners – the BDP and also value in the Ethereum mainnet BDP ERC20 token used for exchanging the Miners’ rewards from the private network and for rewarding Decentralized Validators.
The token economy is built around the BDP Token on the Ethereum mainnet. BDP token remain an intermediate value holder which allows for accumulation and conversion to BDP Tokens via the official channels free of charge.
BDP Economic Agents.
BidiPass Authenticator is completely free for users as the costs are absorbed by the different Service Providers.
Miners are incentivized with authorization requests fees for the transactions of blocks they are adding to the blockchain.
To get users consent to perform actions Service Providers purchase BDP tokens to fuel the entire process.
To perform data and value transfers between the Ethereum Mainnet and the BidiPass Blockchain, the payloads need to be validated.