On February 5th, the Bitcoin Ultimatum (BTCU) blockchain project launched its mainnet. BTCU is a new generation Bitcoin fork that combines all the best qualities of the two most popular cryptocurrencies — Bitcoin and Ethereum. The BTCU team are high-profile blockchain industry professionals with extensive experience in this field. Project CEO Eric Ma used to be one of the key team members of CoinMarketCap, and BTCU Сo-founder Nikolai Udianskiy is the founder of many successful blockchain projects, including one of the top 10 world crypto exchanges Coinsbit.
According to Eric Ma, the launch of the BTCU mainnet marks a new era for cryptocurrencies. The main goal of the new technology is to make blockchain truly efficient by taking the best from Bitcoin and Ethereum and eliminating their disadvantages. BTCU has no scalability issues, processes transactions quickly, and smart contracts can be launched based on its blockchain. To make the network more efficient, the developers have invented a new kind of LPoS mining algorithm in combination with PoA which they called UPoS (Ultimatum PoS).
Currently, the following exchanges have announced support for the fork: Liquid, Probit, Yobit, Coinsbit, Bkex, Biki, P2Pb2b, LocalTrade, Folgory, Bitforex, BiOne, Alterdice, LBank, Indacoin. The team is negotiating with Binance, Huobi, KuCoin, and Okex persuading them to recognize BTCU as a full-fledged Bitcoin fork as well. Bitcoin Ultimatum carries out an Airdrop of BTCU coins to all bitcoin holders in an amount equivalent to the balance of their BTC wallets at the time of the fork. To avoid losing coins, Bitcoin Ultimatum credited BTCUs only to the wallets of those exchanges that have declared support for the fork.
“The launch of the BTCU mainnet is the culmination of more than a year’s hard work of the entire team, developers, advisors, and, of course, the BTCU community, who supported us along the way,” says Bitcoin Ultimatum CEO Eric Ma. “It’s an important milestone and it is just the beginning of our journey. Our global goal is to make blockchain technology an integral part of everyday life. On the BTCU blockchain, we will implement all the best that cryptocurrencies have: asset tokenization, supply chain, and document flow, cross-border payments, DeFi applications, and much more.”
Until major exchanges declare support for BTCU, all users’ wallets will be available on the Orion network, where they will work in test mode to receive feedback from the community and test the protocol, leasing, accruals, masternodes, validators, etc. As soon as Tier 1 exchanges announce support for the new Bitcoin fork, the BTCU protocol will be officially launched. Participants of the Airdrop can check their BTCU accrual in the explorer on https://explorer.btcu.io/.