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November 30, 2020, 01:10:12 PM |
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Prof-it Blockchain Ltd. - The coinsbit.io exchange developers team led by CEO Nikolai Udianskyi has taken the task of improving Bitcoin blockchain by creating a new blockchain that addresses the various limitations, the original Bitcoin network may not properly handle, while implementing new technologies to solve the main problems of the crypto community.
Between several Bitcoin forks, what makes BTC Ultimatum standout aside addressing Bitcoin's scalability, complex energy consumption associated with mining and transaction anonymity, is the additional role of creating smart contracts and native atomic swaps as the basic principle for the implementation of transactions introducing a qualitatively a new level of creation and development of dAPP solutions.
The Advantages of Bitcoin Ultimatum Everybody Looked For...
1. The principle of validation and mining
To unload the network, and to avoid classic, extremely energy-intensive mining, the regulators, distributors and validators in the BTCU network will be authoritative advisers, blockchain companies, and crypto exchanges, which will gain control over the master nodes. So that the BTCU blockchain will operate on the LPoS mining algorithm combined with PoA, where users will use LPoS for mining and PoA for transaction validation.
2. High bandwidth
When validating transactions, the PoA protocol will increase blockchain bandwidth by getting a speed of 200 tps with the ability to scale up to 10,000 tps. When carrying out transactions, this increase in speed aims to eliminate additional inconvenience create by the current bandwidth in Bitcoin network which is around 3.8 tps.
3. Private transactions
By adding the ability to carry out private transfers within the network, the BTCU development team has been able to achieve the first and most important element of any blockchain, the anonymity. Making crypto payments as an alternative, the users prioritize anonymity rather than seeking for absence of commissions and intermediaries.
4. Smart contracts
With many similarities to the concept of Ethereum network, Bitcoin Ultimatum Blockchain is to provide smart contracts in the blockchain protocol with most important functions for the implementation of transactions and dAPP applications. Overcoming the limitation of validating transactions within the framework of a single blockchain protocol, BTCU team is developing the direction of smart contracts and implementing atomic swap technology natively to the blockchain protocol to allow carrying out of transactions interacting with other protocols which will globally expand the possibilities of this technology. The BTCU blockchain is to use smart contracts that keep away users from intermediaries or other ways to protect them from scammers.
Do not miss everybody awaited BTC Ultimatum ( BTCU ) hardfork which has been postponed to 12th December 2020...
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