Bitcoin Private [BTCP] is exhibiting phenomenal growth, doubling in value in the last week alone. BTCP started this week at a value of $25 on 18th April, spiking to $77 on 21st April, and settling at $55 at press time.
BTCP is a fairly recent cryptocurrency, launching on February 28th of this year. The coin was airdropped in a 1:1 ratio for Bitcoin and ZClassic users.
Bitcoin Private is a fork-merge of the decentralized Bitcoin and privacy and security-focused ZClassic.
It uses the zero-knowledge cryptography technology used by ZClassic and ZCash known as zk-snarks. Zk-snarks stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge.
As Christian Reitwiessner of Ethereum says:
“…you can verify the correctness of computations without having to execute them and you will not even learn what was executed – just that it was done correctly.”
This technology allows for encryption of transactional metadata of the sender and recipient, increasing privacy and security for both parties.
It also has a larger block size of 2 MB when compared to Bitcoin’s block size of 1 MB. This allows for comparatively faster transactions and increased transaction speeds.
BTCP is known for its community-driven approach. With regular community updates on social networking sites and its open-source code, it has quickly created a supportive community of investors.
It also brings together the best of both the cryptocurrencies it forked from, carrying over Bitcoin’s decentralization and transparency and ZClassics zk-snarks encryption for optimal privacy and security. It is also suitable for home miners due to its ASCI resistant coding.
BTCP currently has limited wallet options, with main options being Electrum and a paper wallet. The team behind BTCP is looking to create more options for exchange and storage of these coins.
Twitter personalities have come out with support for BTCP.
Nav Sidhu says:
“Just tried out Bitcoin Private for the first time, quick and private transactions makes this a privacy coin gem at only $25, definitely worth getting some for your portfolio if you haven’t yet! $BTCP #BTCP”
Rhett Creighton says:
“Seems to me #BitcoinPrivate is the true vision of #Bcash. Am I wrong? “
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