Bitcoin Private

Bitcoin Private Review

When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Bitcoin Private.

Background

As we have described in various other posts; ‘At any given time, a truly decentralized blockchain network can be updated or as the lingo goes “forked”. This essentially means that the old blockchain remains the same, but the protocol is forked into a new blockchain. This newly spawned blockchain, presumably has a major pivot or update that differentiates it from the “original blockchain”.’

Bitcoin Private, an open-source project, which is very community-driven. According to the website, as long as your skill-set has a unique fit, you are eligible to join. Virtually anybody, that is.

Solution

So in this case, Bitcoin Private is a hybrid of a fork and a merge. Therefore, we can call it a “fork-merge”. The project was spawned out of the Bitcoin protocol, paired with the zk-snark privacy technology that was created for ZClassic and it’s predecessor Zcash. This practically means that this currency enjoys the digitized asset class that Bitcoin is, whilst also remaining a “true” private currency. The zk-snark technology functions as any blockchain based currency, but the transactional metadata created post-transaction, remains, in this case, unreadable. This ensures that the data never can be traced back to a recepient nor a sender.

Conclusion

Not only did this new blockchain adopt the previous benefits of Bitcoin, it also upgraded them. Given the fact they have larger block sizes in the blockchain, transactions will execute much faster. Subsequently, with faster transactions, true privacy and better security than any other Bitcoin-based currency, BTCP will prove to be a powerful crypto asset.