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

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😎 In today's #ceospeaks, we bring you the final edition of CEO Eric Ma's speech at the OpenbusinessCouncil & BTCU hosted by Dinis Guarda (Executive Chair openbusinesscouncil)


Particularly, "His advice to people when it comes to businesses relating to NFTs".


🔹 BTCU's Ma highlighted the importance of due diligence on the part of investors before investing, what participants in the crypto industry can continue to do to propel it, and how the is taking the bold decision to be at the forefront of how NFTs will be used in the business world.

🎥 Watch all about it in this concluding #ceospeaks episode:

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💪 Building a next-gen blockchain that has combined capabilities of the two leading blockchains (Bitcoin and Ethereum) required a capable team of experts in their respective fields, competent leadership and pure commitment.

😎 The team behind BTCU certainly checks all these boxes. We carefully selected experts in blockchain and Fintech to lead the team. Among them is CEO Eric Ma, who is a former core member of CoinMarketCap and a past CEO of a cryptocurrency exchange based out of Singapore.

🔹️ Co-founder Nikolai Udianskiy is a highly respected leader in the industry because of his involvement and ability to create top exchanges within the industry. Our COO Bohdan Prilepa is multifaceted having previously been CMO, CEO, and co-founder of several startups in the space.

🔹️ Dinis Guarda and Juliet Su working as strategy brain trusts, contribute to strengthening and leading the team in the right direction when it comes to market trends and the future development of BTCU.

🔹️ Rounding off the leadership, we have Andrew Saranenko working as CTO, BDO Andrei Kurkin, and CMO Vadim Yarmak who have a combined experience of 15+ years in the blockchain industry. All being close associates of Nikolai over the years, he has a personal understanding of each one’s strength within the industry and their ability to contribute to BTCU's success.

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🌐 A few years ago, people would have made a mockery of you if you told them you hold part of your investment portfolio in cryptocurrency. However, reality has changed on the subject of alternative investments, and cryptocurrency is leading the way.

Why❓
There are many reasons for that. Thus, the financial aspect, and of course, the potential of blockchain technology.

🔹️ Next-gen blockchains, notably, BTC Ultimatum (BTCU), offer more than a simple investment opportunity.  Whether it be smart contracts, leasing and staking, or even complete anonymity - BTCU has it all. Plus, to top it all off, it's not even limited to those aspects alone. You can count in as well assets tokenization to rights management, supply chain and document flow to Cross-border payments, easy access to patients' medical records in the health sector, and much more for the user to discover.

➡️ Click on the link to read and listen to what Robert Kiyosaki - author of the famous "Rich Dad Poor Dad" - had to say about cryptocurrency investment, why price drop is an opportunity for investors and more.

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💠 The development of a next-gen blockchain is no easy feat, nor is it a project that can be completed in a single day or two.

👍 The BTCU team is constantly working on breaking out of the typical norms we’ve been used to. Thus far, features such as smart contracts, leasing and staking, and private transactions in a single decentralized network have been implemented.

💪 Concerning future endeavours, more details will be given as we go on. A quick example would be atomic swaps, which are being developed as the ecosystem grows, although, for the time being, the BTCU platform is more focused on project building as well as the tokenization of assets as an NFT, especially for real estate.

😎 Aside from that, so far BTCU has been in numerous partnerships such as with World smart Cities Forum, the citiesabc part of techabc platforms smart cities index and there are plans for further partnerships which will be revealed later on. The project keeps growing and the team keeps giving its best at every turn. You can expect soon enough more network testing and a switch to a non-linear protocol as well as more focus on mobile wallet pilots.

Stay tuned in❗

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🔵 NFT means non-fungible token. These tokens are digital assets that allow us to obtain special items that can either exist in real life or digitally. These items can be extremely different and range from collectibles, videos, music, and even works of art.

Each item will have for sole owner the person who managed to obtain them, which we can be thankful for due to the NFT build in the metadata, which officializes the ownership and registrates it on a blockchain.

💰 Now, some people might believe that NTF’s aren’t a thing and that they don’t have much of a value, but fact of the matter is they do - the NFT phenomenon is real. The most obvious examples would be people who sell their arts for millions of dollars or even tweets and videos, and you know what? They really end up being sold, which just proves how much success NFT's have.

🚀 All of this, is the reason why BTCU decided that developing the tokenization of assets as NFT would allow people more freedom, liberty and security when it comes to their assets, but also an immense potential of growth in an extremely high value market.

Because with BTCU, the future is now❗

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🔹️ A BTC hard fork refers by definition to a change that occurs to BTC's blockchain which ends up giving us two split branches. One that is following up on the previous protocol, and another that matches the new version we've obtained.

These new versions of BTC are completely split from the original, as neither fully matches the other. They usually see the light of day to "improve" some of the aspects in which Bitcoin is undeniably lacking.

💪 The most recurrent examples would be BTC's mining massive energy consumption, wobbly scalability, and more-than-often questionable anonymity. Because yes, perhaps it might be today's most popular cryptocurrency, however, the potential "risks" that come with it make you question whether it is truly worth all the fuss.

But this is where BTCU comes into action. Because you see, perhaps there are forks such as Bitcoin Cash that address Bitcoin's scalability, Bitcoin Gold that takes head-on BTC's mining issues, or even Bitcoin Private (BTCP) that ensure users privacy, but none of these "solutions" were ever combined or put together for maximum efficiency - BTCU however, is here to change that.

😎 The BTCU blockchain is similar to the Ethereum concept that generally opposes standard overpriced mining methods. The additional functions that set it away from the other BTC forks are the creation of smart contracts as well as native atomic swaps as the basic principle for the implementation of transactions.

 At the end of the day, this introduces a new level of creation and development of dAPP solutions, with measures that make it more comfortable for the user to have and everything simply much easier. Because for BTCU, what matters to most are not only the results but also the means❗

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🔥 As the digital ledger that we most commonly know as "Blockchain" is starting to take us over more and more, mentions of things related to it with equal benefits are starting to rise.

💰 One of those most common things is DeFi - decentralized finance.  The latter is a blockchain-based version of traditional finance that is yet different from it; it doesn't require relying on intermediaries.

🌐 It allows financial products to become available even for the general public, all of which are in a decentralized blockchain network. The only "middleman" here would be the software that you'll be using, not some other person trying to potentially take advantage of you.

😎 Surely, this alone must pique people's interests. Imagine the possibility of doing what you want and actually being in control,  that, being in a promising ecosystem that keeps getting better by the day. This is a thing that BTCU constantly aims to accomplish, which is why DeFi is one of BTCU's most recent focuses.

The market is more accessible, you have the opportunity to get acquainted with cryptocurrencies and all the new trends that are bound to change the way we see the economy - what else could one hope for❓

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🙄 As cryptocurrencies' importance keeps getting bigger by the day, there's always been a single variant that has been on people's minds over and over and to which counter-measures have finally started being properly taken.

⚡️ The most concerning issue when it comes to cryptocurrencies is their mining mechanism and more specifically how much energy it ends up consuming. According to Cambridge University, the rough estimate for Bitcoin alone would be the use of even more electricity annually than Argentina as a whole.

🔹 To counter such a high energy consumption, from the very beginning, BTCU has worked on creating a new energy-efficient mining algorithm - UPoS (Ultimatum PoS).To prove how much the integration of this algorithm is worth, one only has to follow the news. As even world-leading figures such as Elon Musk have begun tackling this topic with more seriousness and started taking counter-measures towards nature's degradation due to mining.

😎 We strive to be always one step ahead. What's on our mind is the best not only community-wise but also development-wise, and truly how can we even live in this world if it ends up rotten due to our practices?

🌱 BTCU is aiming for sustainability, energy-renewability and safety. Because if the traditional ways won't work, then we must upgrade and find the best solutions to secure our future.

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🌍 With the adoption of cryptocurrencies becoming more prominent in our modern world, we have been able to notice and understand the key points and factors that make it better than our more traditional means of payment.

👤 One of the main issues that have forever bugged people's minds is the lack of proper anonymity. A problem that Bitcoin was first to address and tried to fix, but as time has shown us, it wasn't able to fully tackle it.

😎 Here at BTCU, we value our user's anonymity because not having such an important factor, or having it while being underhanded, could hurt you as well as your business.   

💰 Not only is your identity protected and not revealed, but you are also protected from potential scams or invasions of privacy. Thanks to the solution we offer, you'll be able to use the coins you own as freely as you'd like without fearing any leaks or potential cyber-attacks.

🔹️ This principle is possible thanks to our implementation of the ZeroCoin protocol. It works without relying on a central coin issuer, and even if on the flimsy chance of nodes being compromised since the system is built on top of Bitcoin it'll be distributed among its peers regardless of the situation.

🤗 Allow yourself the freedom of using your coins without being wary of whether it'll end up having some negative repercussions. Because BTCU always aims to give you the support you need to feel safe and free.

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🔹️ In our Last post, we've talked about how much anonymity was a key point for us here at BTCU, and we've also mentioned how we have implemented a protocol that works to secure that - The Zerocoin Protocol.

👤 As mentioned previously, the protocol does not rely whatsoever on a central coin issuer or a bank. The protocol ensures that your identity remains safe and incognito. 

👍 Each user can convert non-anonymous BTCU into zBTCU.  The latter is the anonymous currency that we have created. This process allows you to carry the transactions without the risk of being traced.

ℹ️ Furthermore, with this protocol, users can not only make direct payments to each other with the source being kept hidden, but it also hides the amount of the payment.

💰 BTCU has worked on making this privacy-protecting, digital currency for the comfort of our community and their privacy. It's easy to use, efficient and works perfectly.  Because our community is our pillar, and we're constantly working to give them the best.

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💰 It's summer 2021 already, and what had appeared to be just an uproar last year ended up settling in and becoming part of our reality - we're talking about Decentralized Finance (DeFi for short).

💪 DeFi proved to us during this year that it was massive, important, and here to stay. The fact that this system is so novel and creative in its ways of detaching itself from tradition is what gives it its strength.

No one ever really likes being watched or scammed, do they❓
Well, thanks to DeFi, your more traditional financial systems that had middlemen who would probably ask for outrageous sums in terms of commissions are no more. 

😎 It's built on a blockchain that includes smart contracts, protocols and dApps all of which open up to you the opportunity to take part in a financial ecosystem where you can build whatever you want in a decentralized way.  And guess who is the platform leader of the DeFi application? - Ethereum.

🔹️ At BTCU, we working on the integration of EVM (Ethereum virtual machine) technology into our network for the better implementation of said DeFi.

👍 We don't want you to just work on your projects on BTCU, but we also want to give you the opportunity of transferring the already implemented ones.

🌍 DeFi is changing the world, and we want to give you front-row seats for it.

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😎 In our last post, we talked a bit about how we were implementing the EVM (Ethereum virtual machine) technology into our system. Today, we'll be quickly going through one of the things that EVM gives us a key to - smart contracts.

➡️ Smart contracts by definition are self-executing contracts with already set predetermined conditions. Once said conditions are met, the agreement can be executed automatically without having to go through a third party.

👤 Each network user can create a customizable smart contract as long as it goes with EVM standards. All a user needs are the conditions and methods of interaction with the network. These smart contracts allow in other terms users to create decentralized applications

🔹️ These dApps are blockchain-enabled apps, and smart contracts allow them to actually access the blockchain.

🔹️ The integration of this system avoids denial-of-service attacks, saves time, protects your privacy, and ensures complete data integrity.

👍 BTCU decided to implement it for those reasons and because our user's comfort is what matters most. Thanks to these smart contracts and dApps integration, the decentralization factor will become much more prominent are more opportunities will be open for everyone (such as atomic swaps).

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As most of you might already remember, our previous post had a small mention by its end that we didn't dwell much upon, and that's because we will right away❗

👋 Welcome back dear BTCU community! Today we'll be going through Atomic swaps.

We've previously talked about smart contracts and about how they work, didn't we❓
Well, an Atomic Swap is actually a smart contract technology by itself!

🔁 This technology enables you to exchange one cryptocurrency for another without going through any third-party centralized intermediaries.

💰 This will enable you to not only speed up the transaction process but also for you to trade coins directly from your wallet.

🔹️ What makes atomic swaps so special is how decentralized they are, how free of risk they make you, and how the only fees you'll have to pay are the standard blockchain transaction fees.

On top of that, since Atomic Swaps revolve around the use of Hash Timelock Contracts (HTLC) this requires both parties of the transaction to confirm it and to acknowledge it. If either of the parties fails to do so then the transaction will be canceled, in other words, your funds will always be secure❗

😎 What we are aiming for at BTCU, is for these Atomic Swaps to revolutionize the way we transfer money and make the experience much more easier and enjoyable. 

🚀 Implementing them means taking another step towards the future, and giving BTCU users that opportunity too.

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🔹️ Legitimacy, security, and privacy of stored information have always been subject to the concerns of many.

🌐 Traditionally, it's undeniable that all those factors can be compromised. However, as modern technology keeps advancing by the day, it has come to the point of giving us a way to avoid such problems - blockchain.

❗ By nature, blockchain operates in a way where safety and trust are its main pillars.

🤗 The cryptographic and decentralized aspects, make it so that tampering with anything in the blockchain is pretty much impossible. Plus, for transactions, the consensus mechanism guarantees the validity or correctness of each to occur.

🔵 These same aspects are also some of the pillars of BTCU combined with more innovative ideas (such as our ZeroCoin protocol, or the leasing and staking process).

👍 Thanks to this security and the fact that the database is pretty much limitless, it is even being argued that blockchain archives could store data across worldwide nodes, making it permanent in the blockchain and forever engraved. And this is just one of the many advantages that blockchain has!

😎 BTCU's next-gen bitcoin fork is all that and much more! You have anonymity, smart contracts, simplicity, leasing, and other features for you to discover!

➡️ Find out more at btcu.io

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💰 Traditional financial systems will always be somewhat lacking whether it be in terms of security, reliability, or even speed of transactions.

This is one of the many reasons why the public's interest is beginning to shift towards more "fruitful" and modern ones. Blockchain, and its decentralized nature, is arguably the most promising field thus far.

🔹️ One of the best features of blockchain is that, since it's decentralized, user data is pretty much as safe as it could be. Plus, when it comes to actual transactions, cryptocurrencies have no need for a central authority or third-party action the way you would traditionally.

Such measures ensure not only data protection but also anonymity and quick transactions without interruptions. What's best is that every party in the transaction has full transparent access to every information stored within its block of chain and that said transaction won't take place unless all conditions are met.

😎 BTCU kept all of this in mind while building itself, and also added more innovative features to the lot!

Not only is BTCU fully decentralized but it also worked on implementing things such as smart contracts or even leasing and staking to add to its user's comfort.

💙 These options were made for you, and with BTCU you can get the best out of blockchain and decentralization without any worries.