🔥[ANN][BTCU] Bitcoin Ultimatum - a new-generation Bitcoin fork 🚀🚀🚀

[BTCU_official]

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Bitcoin 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!

Code:

BTCU Technical Specifications

Consensus - Hybrid of PoA, LPoS, PoS. With the name of UPoS (Ultimatum PoS)

UPoS Phase Period - Active since the start of the project

Blockchain type - Linear - on launch period, but the next step to make a nonlinear blockchain. 

Block size - 2 MB

Block Time - 60 Seconds

Coin Emission Logic - Supply will be equivalent 1:1 to BTC. All bonuses for staking and ownership will be used transaction commission by BTCU economic policy.

Coin Supply Control - Coin supply will be determined when BTCU is launched. It means that the supply of BTCU is the same as the supply of BTC on a block of forking.

Staking Eligibility:
Minimum Input Age: 60 minutes
Maturity Confirms: 21 confirms
Wallet Status: Requires master-node to be kept running & online.

Transaction Send Eligibility - Minimum number of confirmations: 3 which was calculated and based on UPoS BTCU logic.

Hash algorithm - SHA-256

Accumulator Encryption - RSA-2048

Private address algorithm - ECDSA - secp256k1 (Elliptic Curve Digital Signature Algorithm) - export in standard format WIF

Smart contract based on Ethereum virtual machine (EVM) - popular virtual machine for building smart contracts. 
The next step - integrate the environment of the next generation  - WebAssembly and make more opportunities for smart contract building

Smart Contract language support - Solidity

SwiftTX Eligibility
1 confirm for locking and 3 confirms to spend. 
Collateral held for 15 minutes.

Privacy Technology
Custom Zerocash Protocol based on ZK-Snarks (we call this zBtcu) - is a new protocol that provides privacy-preserving, the new generation of Zerocoin protocol.

Key Features
Custom accumulator check-pointing system, launching own smart contracts, increasing TPS parameter by using the limited amount of validators and SwiftTX technology. 
The main Features is a fully decentralized system where 10 main validators are the largest crypto platforms in the world!
Mint time>= 0.5 seconds
Spend time>= 2.5 seconds
Fees (mint) 0.00000100 BTCU per minted zBtcu denomination.

Fees (spend)
No fee to spend 
zBtcu back to BTCU 

The team of the company for the development of innovative blockchain solutions - Profit Blockchain Ltd. - led by CEO Nikolai Udyansky, she 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 first 10 network validators will be selected among the major projects of the blockchain industry, which will mark the beginning of the Bitcoin Ultimatum decentralized network. If the required number of positive votes is not collected (equal to the number of validators at the time of voting), then the request will be rejected, but the Masternode can make a repeated request. The number of Validators is limited in the network and depends on the network load or the height of its block The blockchain includes smart contracts, anonymous transfers and native atomic swaps.

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 BTCU project team advocates avoiding classical mining for unloading the network, and also opposes the use of electricity on a massive scale for mining the cryptocurrency. The given approach is based on the fact that the crypto community has become more mature and is developing, changing its point of view in favor of preserving the environment and using more humane mining protocols.The LPoS algorithm creates a voting system that directly depends on the reputation of the validators. If the selected node does not work correctly or works inefficiently, it will be quickly deleted and replaced by another. Therefore, the validators are motivated to act honestly and effectively, so that they are further voted for with their own steak. The main advantages of LPoS are a democratic form of control, scalability and relatively low energy costs for network maintenance. LPoS validators use their processing power directly to process transactions. LPoS allows consensus on new blocks faster than PoW and PoS, as LPoS consensus implies the simplest mechanisms for creating blocks on relatively inexpensive equipment and with a high degree of honesty. In practice, in a LPoS system, a relatively small number of network nodes must agree with the validity of the block so that all transactions in it can be considered to be included in the main chain.

BTCU main solutions and conceptsThe possible solutions to the main problems facing the modern blockchain and cryptocurrencies market can be solved through a complex approach that can be offered by the proper inf rastructure for catering to the needs of market participants and anticipating any future trends.The solution offered by the BTCU team involves the creation of a new mining algorithm, the UPoS (Ultimatum PoS), that would usher in the development of a new blockchain matrix capable of resolving the long-standing issues of the market. BTCU will be based on LPoS mining algorithm combined with PoA, where LPoS will work for users to mine, and PoA to validate transactions. PoA-algorithm of transaction confirmation will allow realizing the throughput of the blockchain at the level of 200 transactions per second, with the ability to scale up to 10,000 tps.

Our team is setting the task of not only developing an innovative solution that would meet all the requirements of the crypto community, but also setting up and constantly improving its product in order to expand its capabilities, and maintain its relevance depending on the needs of the market. The team is also determined to attract developers f rom around the world to develop the network and expand the underlying infrastructure to include international crypto organizations and companies.

The development of the proprietary UPoS (Ultimatum PoS) mining algorithm will be able to resolve many of the issues associated with modern blockchains and offer the market higher transaction speeds, low and invariable commissions, and full decentralization with anonymity as a right of users.

The economy of BTCU has many factors as the combination of many technologies increases the number of them. The main factors affecting the economy are the specifics of the work of consensus, leasing, a large number of types of commissions and dependence on the Bitcoin supply.

Transactions Fee – this is a payment for conducting public and private transactions in the BTCU network, integrating smart contracts into the network, as well as for using smart contract methods.The commission for conducting public transactions on the network is 0.00000010 BTCU (10 sat). The commission can be increased by the Validators by voting if the network load grows and the cost of maintaining the network grows. Regardless of which of the Validators generated the block, the commission is distributed as follows: 10% of the commission is distributed among the Validators; 90% of the commission is distributed between the Masternodes.

The architecture of Bitcoin Ultimatum is based on combining the best directions of blockchain technologies and achieving their optimal symbiosis. Leasing, smart contracts, private transactions and other leading blockchain solutions integrated together into a decentralized consensus UPoS algorithm form a stable and wide network for the entire blockchain community.

[BTCU_official]

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[BTCU_official]

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[BTCU_official]

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[BTCU_official]

https://youtu.be/3pg_226gMdQ - BTC Ultimatum (BTCU) Ambassador at the Digital Week Online.

https://youtu.be/zIjZMfANzTM - Introduction of BTCU at the World Blockchain Hackaton.

[BTCU_official]

https://youtu.be/zIjZMfANzTM - Introduction of BTCU at the World Blockchain Hackaton.

Andriy Saranenko was talking there that they are still looking for code reviewers and support. He linked to his GitHub Wiki where I can find the wallet start commands as well as the API-Calls-List. So please tell me how I ever should test the whole thing as there are still no releases published? If you really want to present something at least running on a test net it seems everything to be in a early stage development, nobody has ever been testing it. You are far away from getting it running to the public on October the 27th of 2020 as pronounced publically! Unfortunately nobody of the Bitcoin Core coders was willing to take even a look at it, so I thought why not just to test it. You don't want to say that I have to create the binaries myself for testing it on a x64 Windows platform? I won't do this! Most likely this was the reason you gave up your original posting where you announced a public operation for October the 27th? You have at least one master node running for getting connected to a real test chain? Please note that I seem to be the only one who would be willing to test the whole thing here, so please think well about your answer!

Hi thank you for your interest and willing to support the btcu fork. Please be reminded that you can check the link below for btcu releases:
https://github.com/bitcoin-ultimatum/btcu

And to your question about “at least one master node running for getting connected to a real text chain”. The answer is YES

We appreciate your effort to make btcu a great and successful btc fork, but we would like to ask what you need the binaries for?

[BTCU_official]

Hello! Is BTCU and CBU the same, or are they different?  

Good day!
BTCU - 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!

CBU - Especially for the Airdrop, the Coinsbit exchange has launched a token - Coinsbit Bitcoin Ultimatum Token (CBU), which was initially implemented on smart contracts ERC-20 standard, and after launch of Bitcoin Ultimatum fork on smart contracts in the BTCU network. All owners of CBU tokens will be able to swap their current CBU tokens (ERC-20) to CBU tokens in the BTCU network.

[BTCU_official]

What is the exact date of the airdrop?

Airdrop is scheduled for October 27, 2020

And announce the rules for participation. I want to know how I can get a BTCU coin.

Follow this topic and our social media. Detailed instructions for participants will be published soon.

[BTCU_official]

It turns out that there are 3 days left? There is very little time left for preparation. Please hurry up to post the instructions.

We are working to make it easy and simple for the participants to receive the BTCU coin. Do not worry. just follow our news.

[BTCU_official]

Good to know, I definitely will subscribe to all social networks!

Be sure to do this. In addition, by subscribing to our social networks, you can take part in the airdrop, which we are now conducting together with the Coinsbit exchange.

[BTCU_official]

1 day to start? Really?

I see that you are very interested in participating in our BTCU airdrop. I am very pleased to see such user activity. I think we will not disappoint you!

[BTCU_official]

IMPORTANT ANNOUNCEMENT

We would like to inform the BTCU community and general public that the BTC Ultimatum (BTCU) fork which was scheduled for 27th of October 2020 has been postponed to 12th December,2020. The decision was made to give our developers ample time to deliver on the ultimate Bitcoin fork the cryptocurrency community has been anticipating.

We understand this change in events may cause great inconvenience for all parties concern, and for that, we sincerely apologize. The BTC Ultimatum (BTCU) project is still in the final phase and this period will be utilized to get everything underway for the 12th December launch.

Additionally, we would like to thank the BTCU community and the public for their enthusiastic and strong support for the BTC Ultimatum (BTCU) project.

Stay safe, and we will be in touch with more information soon.

[BTCU_official]

Unfortunately you didn't provide any binaries for testing. Therefore the question: Who has tested it? What was the result of the tests? Where is the blockchain explorer where the transactions can be verified?

Are you a beta tester of our BTCU network? Or would you like to take part in beta testing? It's always nice to see such inspired people ready to help in the development of the project.

[BTCU_official]

And you too? How nice to see so many interested people. I will definitely tell our technicians that we have several volunteers in our forum threads who are ready to help with testing.

Any news? Thousands of beta testers want binaries to test!

We can provide you with Ubuntu 18.04 LTS. If you're looking for any other options for other platforms, then please let us know.

[BTCU_official]

I am not aware of any plans for open beta testing. If I have news for you, I will definitely let you know.

Just ask devs, simple.

OK. I will refer your question to our technicians.

[BayAreaCoins]

It should be noted that Trade_Runner and a few other sockpuppet accounts posting here are extortionists.

[BTCU_official]

Hello. I’d like to know what is the main advantage of using LPoS mining algorithm? How does it work?

Dear user, the main advantages of LPoS are a democratic form of control, scalability, and relatively low energy costs for network  maintenance. The LPoS algorithm creates a voting system that directly depends on the reputation of the validators. If the selected node doesn’t work correctly or work inefficiently, it will be quickly deleted and replaced by another.

[BTCU_official]

How to participate in BTCU airdrop?

Dear user, please note that in order to participate in the fork, you need to have BTC and hold it.
If you don't have BTC, there is also an airdrop, you can take part in and earn rewards.

Dear administrator, please guide me on who are the regulators, distributors and validators in the network of BTCU?

They are 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.

[BTCU_official]

BTCU will develop smart contract ???s?

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.

[BTCU_official]

Do you have any partner platforms? Or maybe you are still looking for some? 

All of our partners are mentioned on our website. Now we're having a collaboration with the Coinsbit crypto exchange, Prof IT Blockchain Technologies company and PRMR agency. Follow our social networks to get the latest updates.