Bitcoin Private 101

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Bitcoin Private Logo

Bitcoin Private Logo

Who was Bitcoin Private made by?

Bitcoin Private’s lead developer is Rhett Creighton in 2018, there are over 200 total contributors & 20 engineers who have helped with the project.

 

What is Bitcoin Private?

Bitcoin Private is a peer to peer based currency, a user to user connected network, without any central server for data. It allows for the sending of money digitally, without the need of a centralized financial institution, like a bank. Bitcoin Private can be bought in fractions, making the technology and currency available for everyone.

 

How does Bitcoin Private work?

Bitcoin Private is a blockchain based network, as much as it’s a currency or store of value. In order to power the blockchain, and confirm blocks that have transaction data, Bitcoin Private utilizes a process called Proof of Work mining. Proof of Work as stated helps confirm and process blocks, and in turn helps process the transactions, as well generates blocks generates new blocks. The network uses the blocks created by the mining process, to organize transactions.

Bitcoin Private differs from Bitcoin, in that it’s derived or forked, from two different cryptocurrency blockchains. Bitcoin Private used a wallet snapshot from Bitcoin, and Zclassic, to airdrop Bitcoin Private to all Bitcoin & Zclassic holders. Bitcoin Private utilizes ZK-Snarks, a protocol for creating anonymous transactions. This was introduced into Bitcoin Private, to help answer Bitcoin’s problem with lack of privacy.

 

How do you store, send, and receive Bitcoin Private?

In order to store, send or receive Bitcoin Private; you will need a wallet to generate an address to use. Check out Bitcoin Private Wallets for wallets that we like using!

 

How you buy Bitcoin Private?

To purchase Bitcoin Private using fiat based currencies, like USD or EUR, you will need to purchase off a cryptocurrency exchange. Check out Exchanges for platforms that we enjoy!

 

Symbol/Ticker: BTCP

Hashing Algorithm: Equihash

Max Total Supply: 21 Million

Whitepaperhttps://btcprivate.org/whitepaper.pdf