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BTCU Ultimatum

BTCU Ultimatum is a next-gen blockchain based on Bitcoin

Summary

BTCU Ultimatum is a next-gen blockchain based on Bitcoin fork that combines the best ideas and achievements of the world of cryptocurrencies. Decentralized ecosystem with smart contracts, leasing and staking, new UPoS consensus algorithm, private transactions and other technologies based on BTCU. The BTCU Mainnet was launched on the 5th of February, 2021.

Blockchains like the BTCU’s have the potential to cover millions of hours of paperwork every year, hold public officials accountable through smart contracts and provide transparency by recording public records of all activities. Blockchain-based voting could improve civic commitment by providing high levels of security and incorruptibility that can allow voting to be done on mobile devices.

The BTCU Mainnet is built on a brand-new developed Orion Network. The Orion network has been created as the official platform for testing and evaluating the performance of the network and its ecosystem. Participants can check their BTCU accrual in the explorer. This network also allows for downloaded wallets to work in test mode. The BTCU team is always looking to improve and will use the Orion network in order to get feedback from the community and to test the protocol, leasing, charges, masternodes, validators, etc.

To sum it up, BTCU is an entire modern product that has been developed from scratch by carefully considering the limitations and outstanding characteristics of the two most popular cryptocurrencies. That is why the technology underlying it is better than others for mass adoption and has all the prospects of becoming truly global.

Mission & Vision

The concept of BTCU is in many aspects similar to that of the second largest cryptocurrency network — Ethereum. Like Ethereum, the Bitcoin Ultimatum blockchain provides for the presence of smart contracts in the blockchain protocol, as one of the important functions for implementing transactions and DAPP applications. In general, BTCU seeks to combine all the best that allowed bitcoin and ether to take a leading place among cryptocurrencies — Bitcoin’s high idea, and the ability to create smart contracts, thanks to which Ethereum has become so popular.

BTCU Next-Gen Blockchain Solution

The solution offered by the BTCU team involves the creation of a new mining algorithm, the UPoS (Ultimatum PoS), provision of smart contract, implementation of atomic swaps and integration of Ethereum virtual machine (EVM). All these sets of solutions would usher in the development of a new blockchain matrix capable of resolving the long-standing issues of the market.

Decentralization plays a key part in the next-gen blockchain technology. BTCU is integrating an Ethereum virtual machine (EVM) in their blockchain to facilitate the implementation of smart contracts on the famous Solidity, which provides enormous opportunities for project tokenization or DeFi implementation. The goal is to allow developers to implement their projects efficiently on the BTCU network and also transfer already ones.

The principle of validation and mining

The regulators, distributors and validators in the BTCU network will be authoritative advisers, blockchain companies, and crypto exchanges, which will gain control over the master nodes. This decision was made to unload the network, and to avoid classic, extremely energy-intensive mining. That is why the BTCU blockchain will be based on the LPoS mining algorithm combined with PoA, where LPoS will be used for mining by users, and PoA for transaction validation.

Coin sales principle

When the fork is launched, an airdrop will be conducted to all users of the Bitcoin network to wallets identical in the BTCU network in the ratio of 1:1 to the BTC balance on the branch block. After branching, all users will be able to find in the BTCU network the same amount of BTCU coins as in the BTC network at the time of branching. And most importantly, to use them you only need to log in your own address in the BTCU network.

High bandwidth

Using the PoA protocol to validate transactions will increase the bandwidth of the blockchain and get a speed of 200 tps with the ability to scale up to 10,000 tps. It is important to note that current bandwidth of the Bitcoin network is about 3,8 tps, which creates additional inconvenience to users when carrying out transactions.

Private transactions

It is worth remembering that the first and most important element of any blockchain network, especially in the matter of transactions, is anonymity. If a person, for some reason, chooses crypto payments as an alternative to the classic, then anonymity interests him no less than the absence of commissions and intermediaries. To keep BTCU users anonymous when making transactions, the development team added the ability to conduct private transfers within the network.

Smart contracts

The BTCU team sets itself the task of developing the direction of smart contracts and implementing atomic swap technology natively to the blockchain protocol to allow carry out transactions not only within the framework of a single blockchain protocol, but also interacting with other protocols, which will globally expand the possibilities of this technology. To make secure transactions, the BTC Ultimatum blockchain will use smart contracts that will save users from having to look for intermediaries or other ways to protect themselves from scammers.

The Team

The BTCU project is led by CEO Eric Ma and Nikolai Udianskiy. Eric Ma is a former core member of CoinMarketCap, Eric Ma is an exceptional leader with strong experience in building groundwork as well as in the expansion of a company. He understands the importance of community as the foundational layer of a successful project and looks to position BTCU as an industry leading project. 

“As the CEO of BTCU, I see technological innovation as the key driver. With the demand for blockchain technology continuing to grow, together with our talented team, I will help lead BTCU to become one of the top cryptocurrencies in the world!”, Eric says.

On the other hand, co-founder Nikolai Udianskiy has 7+ years of experience in creating, developing and investments with crypto projects. Nikolay is one of the top ten crypto experts at the World level. He took part in the creation and launch of five of the 50 leading crypto exchanges. Including the Coinsbit exchange, which has entered the top 10 exchanges of the world in just two years, the company recently noted a million users and continues to grow. Founder of the EVO country club project is Silicon Valley for companies and blockchain development projects. Nikolai Udianskiy is also founder and CEO of a marketing agency specializing in promoting crypto projects – PRMR.com Founder of ASSUR, a cyber security company. The company is a leader in its industry and offers the most reliable solutions.

The rest of the executive team is confirmed is COO Bohdan Prilepa, with 7+ years of experience in Internet marketing, IT and web development; CTO Andriy Saranenko, a 3+ year expert in the Blockchain and IT development industry; CMO Vadim Yarmak, who has  7+ years of experience in digital marketing, СOO in PRMR, brand strategies and tactical plans, market research & analysis. Special mentions go to co-founder of Digital Week Online Juliet Su as Business Development Officer; and chairman and co-founder of ztudium, techabc and open business platform Dinis Guarda, who joined BTCU as Team Ambassador Strategy and Development.

References

https://btcu.io/

https://coinmarketcap.com/es/headlines/news/next-gen-blockchain-btcu-ultimatum-goes-live/

https://youtu.be/q4Z3n4vV4Ag

https://cointelegraph.com/press-releases/btc-ultimatum-a-new-fork-of-bitcoin

https://etherscan.io/token/0x58de03c21aff366739575c8701561f1b01fd328b

https://in.news.yahoo.com/bitcoin-ultimatum-btcu-team-appointed-084859709.html