“Bitcoin Ultimatum Will Change The Method We See Blockchain”

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As BTCU Bitcoin Ultimatum’s Mainnet goes reside, we converse with CEO Eric Ma to seek out out extra in regards to the mission and what’s subsequent on this really next-gen blockchain.

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Constructing a brand new blockchain is a large enterprise. It requires a succesful crew of consultants, management, real-value proposition and a strategic roadmap which must be detailed, sensible and followed-up upon. BTCU Ultimatum definitely checks all these bins. They efficiently carried out the Bitcoin Fork and launched the BTCU Mainnet on February 5, 2021 and airdropped BTCU tokens the week after. They’ve their sights on the subsequent milestone: integrating Atomic Swaps to the platform. The whole lot, beneath the management of CEO Eric Ma. We sit with the veteran blockchain professional and former core member at CoinMarketCap to discuss the present state of BTCU Mainnet and what the longer term holds for this promising next-gen blockchain.

BTCU goals to construct a next-generation blockchain from a Bitcoin fork. What does next-gen imply in relation to blockchain?

Bitcoin and Ethereum are the 2 largest blockchain networks on this planet however every has its personal traits. Ethereum is extra of a platform constructing different decentralized applications upon, permitting for good contracts. Bitcoin, however, has turn out to be extra of a store-of-value, though it was first conceived as a brand new peer-to-peer cost system. With BTCU, utilizing the already confirmed and nicely regarded Bitcoin blockchain, we’re combining each networks and leveraging what works finest in every of them.

We’re constructing a next-gen Bitcoin primarily based blockchain on Ethereum that will enable us to tokenize property which may apply to totally different tasks and property outdoors the scope of cryptocurrencies. Our answer additionally goals to enhance upon the unsustainable, vitality consuming proof-of-work (PoW) consensus algorithm with a brand new Ultimatum proof-of-stake (UPoS) consensus algorithm, making it extra democratic, scalable, environment friendly and sustainable. 

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What does BTCU attempt to obtain by combining Bitcoin and Ethereum, and the way does BTCU stand out from different tasks?

The idea of BTCU is in lots of points just like that of the second largest cryptocurrency community — Ethereum. Like Ethereum, the Bitcoin Ultimatum blockchain has the flexibility to accommodate good contracts within the blockchain protocol. This is among the vital capabilities for implementing transactions and decentralized functions (DApps). Normally, BTCU seeks to mix all one of the best options that allowed Bitcoin and Ethereum to take high ranked spots in cryptocurrencies by market capitalization.

We’ve got developed BTCU to supply a decentralized ecosystem with good contracts by its Final Proof-of-Stake algorithm. A mix of Leased Proof-of-Stake (LPoS) and Proof-of-Authority (PoA), BTCU is extra democratic, extra scalable and extra vitality environment friendly than Bitcoin. We constructed the BTCU Mainnet to be scalable and utilized in a variety of functions: from asset tokenization to rights administration, provide chain and doc move for cross-border funds, governance, actual property to fintech, healthcare and extra. Our imaginative and prescient is to create a blockchain that’s environment friendly, easy-to-use and has actual worth for widespread adoption. Bitcoin Ultimatum’s technological benefits will change the way in which we see blockchain.

Blockchain is synonymous with decentralization and group. How vital is suggestions from the group to BTCU?

The group is the guts of any blockchain mission. We aren’t simply launching a brand new product to the market, we’re constructing a platform with our group. In truth, their suggestions was essential for launching the BTCU Mainnet. On January 21, 2021, we launched a closing testnet. This train enabled builders to check, create, or modify functionalities and monitor the BTCU blockchain community efficiency. It additionally helped present an goal and impartial view of the community to allow events and companies to understand and perceive the community’s capabilities.

We opened communication channels by GitHub and the suggestions was actually vital for us. It helped us predict the operation of the community in addition to present stakeholders with details about the standard of the BTCU blockchain safety, privateness, capabilities, usability, integration and interoperability.

It was so successful that we may launch the ultimate mainnet 2 weeks in a while February 5, 2021. From right here I need to thank the group once more for being lively and for contributing their enter.

Will we see another community-driven tasks from BTCU?

Completely, we strongly consider {that a} blockchain mission can solely progress with the total assist of its group. We’re thereby glad to work and collaborate with different tasks, particularly on quite a lot of safety and tech points.

To additional enhance our mission, we invite everybody to participate in our bug bounty program. This system is designed for anybody who needs to contribute to growth of BTCU and to make sure the safety and robustness of its community.

For his or her time and work, we have now put in place a reward system. Members of the group who work on pressing duties or remedy discovered bugs will obtain BTC / ETH / USDT / USDC / BTCU for his or her efforts.

We’re at all times out there at [email protected] for extra data.

We’ve got additionally began an Ambassador Membership. With the bulletins of newly joined ambassadors like Javed Khattack and Serafima Semkina, our crew wish to proceed to convey onboard different group leaders who share our mission.

The BTCU Mainnet is out, however that is simply step one in a protracted street map. What does the longer term maintain for BTCU?

I’m very excited for the milestones we have now achieved so far. Our dev crew has labored extraordinarily laborious and deserve all of the credit score for the success of BTCU to date. Certainly, launching the BTCU Mainnet is only the start and we have now a protracted roadmap of latest and thrilling additions to the platform.  

We’re engaged on the addition of the good contract system which might enable for atomic swaps. We’re additionally closing strategic partnerships with key platforms like citiesabc and open enterprise council to check out our cellular wallets, pilot applications and the tokenization of {the marketplace}. As well as, we’re additionally partnered with the World Sensible Cities Discussion board to make our blockchain out there to make use of in Sensible Cities around the globe.

To maintain monitor of DeFi updates in actual time, take a look at our DeFi information feed Right here.

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