Betacoin is a decentralized Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in some specifications. Betacoin provides faster transaction confirmations (4 minutes average block generating time). The Betacoin network is scheduled to produce 32 million currency units.
Betacoin uses peer-to-peer technology to operate with no central authority – managing transactions and the issuing of betacoins is carried out collectively by the network. Betacoin is open-source, its design is public, nobody owns or controls Betacoin and everyone can take part.