BTCU Ultimatum
A new-generation Bitcoin fork, combining the best ideas and achievements of the crypto world!
A decentralized ecosystem with smart contracts, LPoS mining algorithm in conjunction with PoA,
private transactions and other technologies at the heart of BTCU!
*** Team and blockchain ***
The team of the company for the development of innovative blockchain solutions - Prof-it Blockchain Ltd. - led by CEO Nikolai Udianskyi, set the task to create a unique blockchain protocol and implement a solution that would meet all the requirements of the modern crypto community. That decision was the BTCU blockchain.
The BTCU blockchain provides for the presence of 20 transaction validators in the network, 10 of which will be determined by the project team (top exchanges and leading crypto companies will become validators), and another 10 validators will be determined by the community. The blockchain includes smart contracts, anonymous transfers, native atomic swaps and the ability to expand throughput to 10,000 tp/s. *** The principle of supply initial distribution ***
The first event at the start of the fork will be the accrual of Airdrop to all users of the Bitcoin network on wallets identical in the BTCU network in the ratio of 1: 1 to the BTC balance on the fork block! In other words, after fork, all users will be able to find in our network the same amount of BTCU coins as in the BTC network at the time of branching. And most importantly, to use them you only need to log on your own address in the BTCU network. Everything becomes as simple and convenient as possible with BTCU!*** The main advantages of BTCU ***
01 The principle of validation and 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. This decision was made to unload the network, and to avoid classic, extremely energy-intensive mining. That is why the BTCU blockchain will be based on the LPoS mining algorithm combined with PoA, where LPoS will be used for mining by users, and PoA for transaction validation.
02 Coin sales principle
When the fork is launched, an airdrop will be conducted to all users of the Bitcoin network to wallets identical in the BTCU network in the ratio of 1:1 to the BTC balance on the branch block. After branching, all users will be able to find in the BTCU network the same amount of BTCU coins as in the BTC network at the time of branching. And most importantly, to use them you only need to log in your own address in the BTCU network.
03 High bandwidth
Using the PoA protocol to validate transactions will increase the bandwidth of the blockchain and get a speed of 200 tps with the ability to scale up to 10,000 tps. It is important to note that current bandwidth of the Bitcoin network is about 3,8 tps, which creates additional inconvenience to users when carrying out transactions.
04 Private transactions
It is worth remembering that the first and most important element of any blockchain network, especially in the matter of transactions, is anonymity. If a person, for some reason, chooses crypto payments as an alternative to the classic, then anonymity interests him no less than the absence of commissions and intermediaries. To keep BTCU users anonymous when making transactions, the development team added the ability to conduct private transfers within the network.
05 Smart contracts
The BTCU team sets itself the task of developing the direction of smart contracts and implementing atomic swap technology natively to the blockchain protocol to allow carry out transactions not only within the framework of a single blockchain protocol, but also interacting with other protocols, which will globally expand the possibilities of this technology. To make secure transactions, the BTC Ultimatum blockchain will use smart contracts that will save users from having to look for intermediaries or other ways to protect themselves from scammers.
*** Futures ***
Post-quantum cryptography
Even though current, publicly known, experimental quantum computers lack processing power to break any real cryptographic algorithm, we are designing new algorithms to prepare for a time when quantum computing becomes a threat.
It will be based on currently post-quantum cryptography research is mostly focused on six different approaches:
Lattice-based cryptography
Multivariate cryptography
Hash-based cryptography
Code-based cryptography
Supersingular elliptic curve isogeny cryptography
Symmetric key quantum resistance
Atomic swap
One of the best features of cross swap is the removal of intermediary tokens. Eg. if you have LTC and want to buy BTCU in a normal exchange, you will have to sell your LTC for BTC and then buy your BTCU. Via atomic swaps, you can get this trade done in one go. Is no more necessary to use other services for exchange.
Atomic Swaps has the potential of completely revolutionizing the money transfer system in the crypto world. To put it in simple terms, atomic swaps will enable people to directly trade with one another wallet-to-wallet. As we have stated earlier, can either be conducted on-chain or off-chain. On-Chain swaps take place on either currency’s blockchain. In order to do this though, both currencies must:
Support HTLC
Have the same hashing algorithm
Advantages of Atomic Swaps
Interoperability between the different assets is a huge problem right now in cryptocurrencies. Atomic swaps are going to bring users of all these different coins together to help them interact with each other.
Atomic swap makes the crypto ecosystem more “currency agnostic”. Because people with different crypto holdings will now be able to interact with each other, it is pretty likely that people will be more open to diversifying their holdings instead of just depending on a few coins.
Atomic Swaps will open the doors to trustless and fee-less decentralized exchanges.
Central exchanges are centralized and hence open to a host of attacks. Atomic swaps remove the need for having a 3rd party and makes the trade as direct as possible.
External attacks aside, centralized exchanges are also suspect to internal maintenance issues and corruption. Wallet maintenance” or disabled withdrawals are especially two big problems. Atomic swaps are going to give you complete control over your money.
Direct wallet-to-wallet trading epitomizes decentralization in its purest form. Exchanges are constantly targeted for regulation purposes which makes the whole trading process increasingly centralized.
Since atomic swap directly connects two wallets to each other, it removes all the steps and confirmations required by centralized exchanges.
*** BTCU Team ***
*** Media about us ***
