The VeriBlock team is excited to announce the launch of Bitcoin Squared (BTCSQ), the world’s first blockchain secured against 51% attacks in an entirely Decentralized, Trustless, Transparent, and Permissionless (“DTTP®”) manner through the VeriBlock® security network.
Bitcoin Squared serves as a reference implementation for any Bitcoin-family blockchain to implement the PoP® (“Proof-of-Proof®”) consensus protocol, introducing a new form of decentralized lightweight mining which reinforces a blockchain’s existing consensus (PoW, PoS, DPoS, PoST, etc.) with the full security of Bitcoin.
Bitcoin Squared Mainnet will launch at 10am ET on December 9th, 2021, at which time the download links for the final Mainnet package will be made available.
IMPORTANT LINKSWebsite |
Wiki |
Software |
/vbk-wp-pop]Whitepaper (VeriBlock PoP) |
Dashboard |
GithubSOCIALThis is initially a project incubated by VeriBlock Labs (and therefore uses VeriBlock’s social channels).
Discord |
TwitterQUICKSTART GUIDE: Getting StartedDAEMON:Windows x64:
HereLinux x64:
HereSource:
Github(Note: compilation of the BTCSQ daemon from source requires compilation of the VeriBlock reusable library, instructions available here:
Here)
Technical SpecificationsName: Bitcoin Squared
Symbol: BTCSQ
Security Inheritance Protocol: Proof-of-Proof (PoP) Mining
Block Generation Protocol: Proof-of-Work (PoW) Mining w/ SHA-256D
Block Time: 2 Minutes
Total supply: 21,000,000
PoP/PoW split: 50% PoP and 50% PoW
EmissionsWhile BTCSQ has the same total quantity of emissions (21M) as Bitcoin, BTCSQ’s emissions curve deviates from Bitcoin’s standard 4-year halving model.
During the incentivized Testnet phase, approximately 439923 BTCSQ were mined, which were reflected in the genesis block of BTCSQ Mainnet. The following schedule dictates the new coin emissions:
See:
https://wiki.veriblock.org/index.php/BTCSQ_EmissionsPoW Mining Pools Available Here:
PoW Mining PoolsPoP Mining Instructions Available Here:
PoP MiningFAQAbout VeriBlockVeriBlock serves as the world's first blockchain which allows every blockchain in the world to inherit the full Proof-of-Work security of Bitcoin in a completely Decentralized, Trustless, Transparent, and Permissionless (or "DTTP") manner. The VeriBlock blockchain is built 100% from scratch, and has been engineered from the ground up to provide the most cost-effective, secure, and easy-to-use way for the world's blockchains to enjoy the unparalleled immutability of Bitcoin itself.
About Proof-of-Proof (PoP)Proof-of-Proof is a novel consensus protocol invented by VeriBlock, Inc. which allows any blockchain (including sidechains and permissioned ledgers) to inherit the full security of Bitcoin in a truly Decentralized, Trustless, Transparent, and Permissionless (or "DTTP") manner.
It does so by gamifying the publication of data representing a blockchain's present state to Bitcoin (directly or indirectly through VeriBlock’s security network) such that any user can participate and receive compensation for enabling blockchains to inherit Bitcoin's security. If you'd like to dive into the technical details, please check out our
whitepaper.
Difficulty AlgoAdjusted LWMA
About vBFIUsers of a VeriBlock-PoP-secured altchain can use the VeriBlock Bitcoin Finality Indicator (“vBFI”) to easily determine exactly when a transaction on an altchain network has as much (technically, more) security as a transaction on Bitcoin itself.
As soon as vBFI reports a Bitcoin confirmation value greater than zero for a block on a PoP-secured blockchain, the transactions contained within that block cannot be double-spent without performing a 51% attack on Bitcoin itself. For example, a transaction in an altchain block with 3 Bitcoin confirmations reported by vBFI is as hard (technically, harder) to reverse than a transaction directly on Bitcoin itself with 3 confirmations.
