BITCOIN 2 - The Scalable Bitcoin Measured With Personal Transactions And Instant Verified Payments

brainerdpaul (-2)(1)in #bitcoin • 6 years ago (edited)

ABOUT BITCOIN 2
Bitcoin 2 is a scalable Bitcoin fork with private transactions and instant verified payments. It is open source, anonymous, fast and is based on "Proof of Stake" algorithm.
Bitcoin 2 is a Bitcoin-based community-centric cryptocurrency with a focus on decentralization, privacy, speed, scalability and real-world use. It utilizes an energy efficient Proof of Stake protocol and a second-tier Masternode network to handle transactions that confirm in a second.
Bitcoin 2 is continuously striving to achieve instantaneous private transactions, and fungibility in order to remain as one of the most advanced cryptocurrencies.
In layman’s term, Bitcoin 2 is basically a form of online digital money that can be easily transferred all around the world in a blink of an eye with nearly non-existent transaction fees. You can convert your money into Bitcoin 2 and just hold to earn rewards similar to interest, trade on an exchange to buy other digital currencies or buy goods or services online and offline where it is accepted.
It is not owned or governed by any single person or organization and its network is secured by nodes all around the world by its users.
The goal of Bitcoin 2 is to be an advanced digital currency that is fast, secure, decentralized & private.

Features of Bitcoin Project 2

Fast:
Payment of SwiftTX confirmation in seconds.

Private, untraceable:
Transact personally using Zerocoin and Tor protocols.
DecentralizedAnyone with a computer can earn money and contribute to running blockchain.

Low cost:
Send money globally for less than a cent.

Scalable:
Until now, the maximum transaction per second is about 40 times more than Bitcoin.

Economical:
Bitcoin 2 uses the most complete Proof of Stake algorithm. Greatly reduced electricity usage compared to Bitcoin.

Comparison Chart

WHY SHOULD CHOOSE BITCOIN 2?
Sending old Bitcoin can be more expensive than wire transfer and slow compared to other crypto currencies. Transactions can also be tracked. With all the battles about what to do, the big improvements on Bitcoin come slowly if at all. So Bitcoin 2 should be born. Bitcoin 2 solves the problem and is also fast enough to be accepted as a payment method by retail stores and grocery stores due to the SwiftTX feature.

SwiftTX and how does it work?
It works just like the "InstantSend" feature in Dash. When a user chooses to send a transaction as a SwiftTX, the transaction will be sent to Masternodes to process and it gets verified and guaranteed by them almost instantly.

Thus there is no need to wait for the transaction to appear in a confirmed block. This type of payment is made for Point of Sale situations in the real world. Bitcoin2 Core developers alongside with any new contributors will work on: Mobile wallets for Bitcoin 2, an in-wallet Decentralized Exchange and continue to implement any further important advances in cryptocurrency technology such as the Dandelion Protocol. Anyone interested in developing Bitcoin 2 further can contribute to the Bitcoin 2 github.

How to claim Bitcoin 2 (BTC2)

Make sure you have something to claim

The first thing you need to know is if you are eligible to claim BTC2 with your BTC private keys. The BTC2 fork happened at block height 507850 (~February 5 2018) so if you had a BTC balance on February 5th you should be able to claim. Go to https://blockchain.info/ and enter your public keys to check if you had a balance on the fork date.

Split your coins

If you owned BTC at block height 507850 then the next step would be to split your coins. To do that create a new BTC wallet and send your BTC there, that way you won't be risking your precious BTC. Once your BTC is safe in your new wallet and the old wallet holds 0 BTC you can export your private keys from the old BTC wallet and then import them to the BTC2 wallet. If you were using Electrum as your old BTC wallet (it should have 0 BTC by now) just click on Wallet menu, Private keys and Export, a dialogue should appear asking you where to save the .csv file containing the key pairs. You can open the file with your spreadsheet of choice or even notepad.

Download and synchronize the BTC2 wallet

Download the BTC2 wallet for your operating system and let it sync, it only needs to download less than 1.5 GB of blockchain so it shouldn't take too long to sync on a half-decent connection. Windows, Linux and Mac versions are available for download. You can use a virtual machine to run the BTC2 wallet if you're so inclined.

Import your private keys

When the BTC2 wallet is synchronized go to the Debug console by clicking on the Tools menu and then Debug console. Enter the command importprivkey followed by your private key. Let's say my private key is SzavMBLoXU6kDrqtUVmffv, the command would look like this:

importprivkey ............................

Press Enter and the wallet will star scanning the blockchain looking for your BTC2. After it's done the wallet should reflect your new BTC2 balance. You will have to repeat the process for each private key you want to import.

Bitcoin 2 is a Bitcoin fork with instant payments and private transactions that uses proof of stake instead of proof of work. Users can stake their coins simply by keeping the wallet open.

BENEFITS OF USING zBTC2*zBTC2 can hide your coin balance from prying eyes protecting you from being targeted

So your zBTC2 balance isn’t linked to any particular address.
zBTC2 can hide the transaction history of the coins being sent.
Source & target addresses aren’t visible making it private, safe & fungible.
zBTC2 anonymous transactions are very fast.
It takes as little as 0.5 seconds to mint and 2.5 seconds to spend zBTC2.
Automatic conversion to zBTC2 is disabled by default, but can be turned on if wanted.
It means that you can always send a fully transparent transaction when required.

Bitcoin 2 Core Wallets
Coming soon! Will be available once the main net launches in March.

RoadMap