BTCP otherwise known as BITCOIN PRIVATE, is a new privacy focused cryptocurrency, born from the hard fork of BITCOIN and ZCLASSIC.
So, what are the main characteristics of this long awaited currency, and what improvements does it bring to cryptocurrencies?
PRIVATE
Obviously.
Bitcoin Private, known as BTCP, uses the zk-snarks privacy technology.
The goal of zero-knowledge proofs is for a verifier to be able to convince herself that a prover possesses knowledge of a secret parameter, called a witness, satisfying some relation, without revealing the witness to the verifier or anyone else.
Don’t get it wrong, this is a blockchain based asset, which means all transactions are still recorded on a public ledger.
BUT what distinguishes BTCP from BTC or other non-private coins is that the sender, recipient and other transactional metadata remain unidentifiable.
FAST
Bitcoin Private will support a slightly increased block size (2MB) than any existing Bitcoin-based currency.
BTCP block time is 2.5 minutes, which is one quarter of that of BTC (10 minutes).
FAIR
No premine (who said BTG?), and no founder's reward (who said ZCASH).
Bitcoin Private has been released in a fair manner to all. Coins has been distributed on a 1:1 basis to BTC and ZCL holders.
DECENTRALIZED
Bitcoin Private supports peer-to-peer transactions without an intermediary.
These transactions are verified by network nodes through the use of cryptography, and recorded in a public ledger.
COMMUNITY DRIVEN
Bitcoin Private is developed by team members from all over the world. Each member contributes based on his or her skill sets.
OPEN SOURCE
Bitcoin Private's entire codebase is publicly available for viewing and verification by anyone.