Bitcoin Pay is a super credit operator project based on Bitcoin credit. Its goal is to build a powerful cross-chain smart contract to provide services for the blockchain network and promote the widespread application of blockchain technology. By utilizing the credit of Bitcoin as the basis for development, Bitcoin Pay is committed to providing safe and efficient credit services and providing users with more innovation and convenience.
The latest price of btp currency
¥ 1.6445 ≈ $ 0.2299
##What is BTP?
Bit Payment (BTP) is a project jointly launched by two teams focusing on Bitcoin payments: Bitcoin Pay and Bitcoin Flyer. This project is based on Bitcoin's credit and aims to establish a cross-chain smart contract service to provide powerful joint credit for the entire blockchain network. The goal is to promote the widespread application of blockchain technology and provide services to society.
Bit payment UTC 1 time will be executed at Bitcoin block height 499,345 on December 16, 2017, and the Bitcoin assets will be matched with 1 Bitcoin = 10 bits to pay, and the data migration will be completed, with a total amount of 210,000,000. It continues Bitcoin's POW algorithm, adopts GPU mining mode (no pre-mining), and expands to 8M large blocks; supports isolated verification, lightning network, zero-knowledge proof, strengthens privacy protection, and uses two-way replay protection.
Bitcoin was first proposed by Satoshi Nakamoto in 2009. It is an open source software designed based on his ideas and built on a P2P network. It is a P2P form of digital currency.
Bitcoin, as the originator of the currency circle, has existed for more than 3,000 years. During this long period of time, its market value has exceeded 100 billion US dollars, creating a new world and becoming a new myth. Since the beginning of this year, Bitcoin has experienced unprecedented busyness, with continuous skyrocketing and forks.
Does BTP/Bitcoin have a future?
With the surge in value, the original block settings may lead to slow transaction speeds and congestion. The Bitcoin community has different opinions on how to expand Bitcoin, which is one of the reasons for Bitcoin forks. Some people have suggested increasing the maximum block size. For example, Bitcoin Classic sets the maximum value to 2M and plans to determine the upper limit of the next batch of blocks based on the median of the previous 2016 block sizes multiplied by a multiple. However, due to inconsistencies in different expansion plans, they cannot be unified, which ultimately leads to the emergence of two situations: hard fork and soft fork.
Hard fork refers to the relaxation of protocol rules, causing nodes that have not upgraded after the new rules are deployed to regard the blocks of the new rules as illegal. Even if these blocks belong to the longest chain, old nodes will give up following chains containing illegal rules. Therefore, unupgraded nodes will automatically split off to form two chains, and each node chooses to continue the chain it thinks is correct.
Soft fork refers to the tightening of protocol rules. In this way, after the new rules are deployed, the new rules are a subset of the old rules, and nodes that have not been upgraded will not consider the blocks of the new rules to be illegal. So simply think about it, nodes that are not upgraded through soft fork will not actively split out, and will still follow the longest chain rule.
BTP considers fair distribution for Bitcoin holders and does not kidnap the distribution of other currencies. It is only distributed to BTC holders.
The team stated that it will be launched on more than a dozen well-known trading platforms around the world. The prospect of this currency is still worth looking forward to.
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