Bitcoin fork BTCU is scheduled for July 7
The new Bitcoin fork - Bitcoin Ultimatum (BTCU) - is scheduled for July 7. This was mentioned to LetKnow.News by the co-founder of the project Mykola Udianskyi.
“At the moment, the
blockchain development is at load and network security testing phase. We are planning a full launch of the protocol on July 7, ” he said.
"Udianskyi stated that there will be a
cryptocurrency conference from 25th-31st May 2020, organized by Digital Week Online. This is where the project will be unveiled."
"We are heading to this conference to make a presentation about the project to find potential partners. We want to explain what this fork is about and how it can be useful to the world," added the co-founder of the project."
Currently, the development of the blockchain is at load testing and network security testing stage. We intend to launch the complete protocol on July 7th.
The Bitcoin Ultimatum blockchain protocol provides support for smart contracts and anonymous transactions within the network, as well as the integration of atomic swap technology to enable the protocol to interact with several other protocols.
It is based on the Leasing Proof-of-Stake (LPoS) consensus algorithm in combination with Proof-of-Authority (PoA). According to the developers, such a decision was made to offload the network and avoid classic energy-intensive
mining and maximum throughput capacity up to 10,000 tp / s.
Advisors, blockchain companies and cryptocurrency exchanges will act as regulators, distributors and validators on the BTCU network. In total, the blockchain protocol provides 20 masternode validators.
Half of the validators will be chosen by the team, and the other half by the 10 largest coin holders. This will allow distributing control between the network regulators and its participants, which will ensure decentralization.