Recently, it has become clear that the crypto community’s privacy is at risk. Everytime one makes a transaction on the Bitcoin blockchain, the transaction is recorded on the blockchain in perpetuity for anyone to see. We have seen the BitFury Group use this information to de-anonymize over 15% of the entire Bitcoin network, along with many other examples. This led us to create Bitcoin Private (BTCP) - a fork-merge of the ZCL & BTC blockchains and introduction of the zk-SNARKS feature to Bitcoin.
The Bitcoin Private contribution team announced the much-anticipated snapshot date of both Bitcoin & ZClassive which are scheduled to occur on February 28, 2018. This announcement was made at the first official Bitcoin Private Conference held in Austin, Texas. The fork date and mainnet launch is scheduled to occur ~2 days later.
Bitcoin Private will be distributed on a 1:1 basis. This means, that for every 1 ZClassic (ZCL) or 1 Bitcoin (BTC) held during the snapshot, holders will receive 1 Bitcoin Private. For example, if someone holds 20.3 ZClassic and 1.5 Bitcoin, he/she will receive 21.8 Bitcoin Private.