Bitcoin Private

What is Bitcoin Private?

Bitcoin Private is a community-driven cryptocurrency that was forked from Zclassic and Bitcoin in March 2018. The idea behind the project was to bring widespread adoption of privacy on the blockchain, while still being able to provide a user-friendly service similar to Bitcoin Cash and Bitcoin Gold.

Privacy for the people

The technology behind BTCP, zk-SNARKs, is based on the Zerocash protocol developed by American and Israeli scientists to provide enhanced privacy in payment transactions. It uses a variant of zero-knowledge proofs that allows the “prover” to prove to the “verifier” that a certain statement is true, without revealing any information beyond the validity of the statement itself. When it was initially implemented in the cryptocurrency Zcash (ZEC) in 2016, some were dissatisfied with the hefty Founder’s Reward built into that project. Zclassic (ZCL), an identical coin without the fee, was launched barely a week later. As a fork of Zclassic, Bitcoin Private has the same ASIC-resistant Equihash Proof-of-Work (PoW) algorithm, meaning that there is an excellent climate for mining.

Stronger Together

Unfortunately, Zclassic failed to attract a large user base, and without a governance structure to financially incentivize and compensate the developers, the project stagnated. As soon as it was announced that BTC and ZCL holders would receive BTCP at a 1:1 ratio, the new coin received significant attention which led to massive price appreciation. By leveraging the well-known branding effect of Bitcoin and the innovative technology of zk-SNARKs from Zcash, Bitcoin Private is aiming to establish itself as the most trusted privacy coin out there.

Where to store Bitcoin Private?

Whether you are a security expert or a brand new user, with our Magnum Wallet you can manage and exchange your BTCP securely and efficiently. Magnum Wallet offers a fully decentralized way with which only you can control your private keys and funds.

More Reading
Newer// IOST
Older// Groestlcoin