Bitcoin Private, the first time that a Bitcoin hardfork and another from Zclassic come together under a single blockchain, offering a powerful cryptocurrency, open source, decentralized and with great privacy.
Different tests have also been carried out with the Zclassic Electrum cameras in the alpha phase, which have been done through the public Discord this week. It has been tested on Mac, Windows and Linux. The test has gone very well, but some problems have been detected that are being corrected.
This wallet only allows transparent operations. The developers are working on shielding the transactions. If nothing happens, a wallet is launched in beta at the end of the week.
We are working on solving the problems of the Eleos wallet and are preparing to launch a final version of this for Zclassic. The head of operations, @ CryptoJake22, will hold a presentation conference on Bitcoin Private next January 27 and the utility of this for business. BTCP will be the sponsor of the event and will be completely free.
They are working on the exchange houses admit BTCP, which is not easy, since the Exchange receive many requests for the entry of cryptocurrencies, due to the number of requests received by developers of existing cryptocurrencies and bifurcations. I
t has been decided that the fork will be made four weeks after the announcement. They also make clear that the fork implementation code is ready, but this waiting period will allow the entry of Bitcoin Private in many exchange houses.
Work is underway on a fundraising program to pay for entry into the Exchange, splitting 50% in the fund, 25% in development and 25% in the trade. Those who want to invest, can do so, by contacting through Telegram or Discord.
Finally, they have launched a program called 'Volunteer contribution program of miners', to raise funds. Basically what is asked of the Zclassic miners, who donate their hash power to generate nothing less than 50,000 ZCL.
Those that contribute, for each generated ZCL, will receive 1.25BTCP, after the fork, logically. Jointly, a wallet of multiple signatures will be established, which will be managed by the community (two community users and two miners), to ensure that these funds are used appropriately and transparently. It is expected that this can happen within ten to fourteen days.
Bitcoin Private, the first time that a Bitcoin hardfork and another from Zclassic come together under a single blockchain, offering a powerful cryptocurrency, open source, decentralized and with great privacy.
Hardfork, within the cryptocurrency market are extremely common and it is relatively easy to fork Bitcoin, Ethereum or any other currency with its own protocol, implement 'improvements' and launch it to the market. What is not usual is that two independent hardfork join in a single hardfork and is what will happen with Bitcoin Private. This new cryptocurrency is based on a Bitcoin hardfork and another Zclassic hardfork (ZCL), which converge under a single blockchain, creating a new cryptocurrency, unique in its kind that will be very interesting.
Bitcoin Private (BTCP), will implement the zk-snarks protocol, which uses ZCL, to provide the cryptocurrency with privacy, this means that the payments are public in the blockchain, but the sender, recipients, amount and other data are hidden.
BTCP, like Bitcoin, allows peer-to-peer transactions without intermediaries. The operations are verified by network nodes through cryptography and saved in the public accounting ledger. The blocks will be larger and more anonymous and safer than any fork based on BTC, without affecting the speed of transactions.
All BTCP code will be open source, so we can see it completely and verify it. It will always be public and maintenance will be done by the community, so any interested can be part of a global team. Members can take on any role and contribute their skills.
In addition, this currency will have no founder reward, it will be a fair coin thrown for all. The distribution will be done in 1: 1 to the holders of BTC and ZCL, or what is the same, the one that has 1BTC will receive automatic 1BTCP and the one that has 1ZCL will receive automatic 1BTCP and if you have both, you will have twice as much BTCP.
Currently there is no date to give these hardfork, because everything is in development, but be as soon as possible. When the hardfork of both currencies is made, a snapshot of all the ZCL and BTC wallets is made, so any user that has ZCL or BTC in a wallet or admitted exchange house, will receive in 1: 1, the amount of Relevant BTCP.
The main developer is Rhett Creigthon, but the team also has almost fifty active members. About the bureaux de change that admit BTCP there are no data, but they are already talking with several exchange offices to admit this new cryptocurrency. BTCP will also have special protection against bidirectional repetition, a problem that Bitcoin has.
When the fork is made, there will be as many Bitcoin Private available as the sum of Bitcoin and Zclassic at the time of making the bifurcation of both blockchain. There is no data, but it will be possible to mine in a simple way, similar to Zclassic, something that would point out that the mining would be with graphics card.
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