Home / Litecoin / Bitcoin Private (BTCP) responds to pre-mine charges while Litecoin (LTC) and Genesis Vision (GVT) come out with big news

Bitcoin Private (BTCP) responds to pre-mine charges while Litecoin (LTC) and Genesis Vision (GVT) come out with big news

  • Bitcoin Private responds to pre-mine charges

CoinMetrics data aggregation site recently released a
malicious report on Bitcoin
Private and popular hybrid fork focused on the privacy of Bitcoin and ZClassic. The
the report reveals that independent auditors found discrepancies in BTCP reports
and the total actual offer; while the BTCP team originally claimed that their currency was
The offer is set at 21 million Bitcoins with 0 pre-mining, found auditors
that more than 2 million BTCPs were pre-extracted during the project's fork. Bitcoin
The private team was ready to respond to the allegations, releasing their statement
just a day after the controversy has emerged.

Do not claim any preliminary knowledge of pre-mine, Bitcoin Private
team relations immediately started their own internal research on
situation. Confirming the mathematical accuracy of the discoveries of the auditor, them
he remained firmly convinced that the final holder of these pre-mined funds was not someone
inside the team. The team has published a timeline of events related to
underlying problem exposed in the CoinMetrics report:

  • "A size
    for a specific problem has been published, which can be seen here:
    https://github.com/BTCPrivate/BitcoinPrivate/issues/3
  • A
    the developer accepted the size, becoming a BTCP developer. He was promoted to
    contributor on GitHub, allowing it to merge pull requests.
  • The
    the developer completes the problem, joins his code and receives his reward. One
    missing a line of code that allows you to take advantage of the fork mine because of the
    nodes that do not correctly check forged fork blocks. The code can be found
    here and it was merged on January 5th:
    https://github.com/BTCPrivate/BitcoinPrivate/pull/27/files#diff-7ec3c68a81efff79b6ca22ac1f1eabbaR3363.
    The missing line of code is as follows: || tx.vout.size ()> 1. We have determined
    this after the release of the CoinMetrics report.
  • After
    collecting the size, the developer in question has stopped working on the BTCP
    project. The contribution team has not heard from him since January. we have
    contacted for a comment.
  • During
    fork publicly announced mine, a bad actor has exploited this bug, creating 2
    millions of coins. He went unnoticed by the contributing team until it was
    discovered by CoinMetrics. "

Praising the advantages of their open-source development
philosophy, the team continued to complain about the negative attributes of it. Bad outside
actors can exploit these environments and BTCP believes that this is exactly what
it happened here While the team admits that bugs and exploits are a common event
in cryptographic development, they remain firmly convinced that open source development is the
road to go in the future. They added that this particular exploit could only
be exploited during the gallows mine, which has already occurred before
year. As such, they conclude that this particular exploit will no longer be repeated.

Finally, BTCP revealed how they intend to correct the current
over-supply situation:

"CoinMetrics has
have claimed to believe that less than 20,000 legitimate BTCP coins exist in shielding
addresses with 1.7-1.8 million illegitimate coins. Our team is favoring
an option for the rigid fork and remove all shielded coins from existence. While this
would make the legitimate 20,000 coins disappear, we believe it is so
the alternative is to leave 1.7-1.8 million illegitimate coins
In circulation."

  • Genesis
    Launch of Vision Forex trading

Genesis Vision, a decentralized platform that connects managers,
intermediaries, traders, exchanges and allowing them to access a wide range of activities
through an interface, today officially expanded
asset offer allowing its members to trade in "the beautiful world of
Forex ". This was made possible thanks to their integration with a broker
company called Just2Trade Online Ltd.

Comparing the Forex introduction on what was originally a
cryptographic platform to "build a bridge from two opposite banks", both
GV and Just2Trade Online have made sure to address potential legal, financial and
technical problems that could come with this. Apparently both teams felt it every time
problem has been successfully dealt with and have decided to move forward with full
integration.

Genesis Vision managers can now create ECN accounts, which
provide access to no less than 53 Forex tools, three different types of
precious metals, three different CFDs on energy sources, 13 CFDs on indices,
with even a couple of cryptocurrencies added to the mix. Tight spreads, high execution
speed, democratic costs, maximum leverage of 1: 100. Scalping and automated
trading is among the features that GV users can use by selecting
Just2Trade as a broker of choice.

The service is limited to users fully confirmed by KYC, with
Residents in the United States are unable to access it. The service is supported by MetaTrader
4 trading bot software, a staple of Just2Trade's market relationships. Service
it will be sporadically limited during the winter holidays (31st in December,
1st and 2ND January) after which GV users can expect
use it without problems.

  • litecoin
    It becomes tough with a UFC partnership

Litecoin Foundation has announced it
has partnered with none other than UFC, the mixed premier of the world
martial arts organization. According to the terms of this partnership, Litecoin
will support the UFC event 232: Jones vs. Gustaffson 2.

"This epic event,
which presents the highly anticipated revenge of the main event between the former UFC
light heavyweight champion Jon Jones against light heavyweight UFC Alexander
Gustafsson, will take place this Saturday, December 29 at the Inglewood Forum,
California,"
explains the foundation.

Litecoin will act as an official cryptocurrency of the event
partners, making this the first time the worlds of UFC and cryptocurrency
collision. The Foundation hopes that this highly anticipated martial arts event
"it will arouse interest and stimulate engagement with people from all walks of life
who may have never heard of Litecoin or cryptocurrency before. "

Adding that they see many parallels in the way the UFC community
supported the platform on what they did and want to keep doing themselves,
The Litecoin Foundation has confirmed that it hopes that this collaboration will continue
develop further.

  • BBVA
    reveals 4 blockchain solutions to shine in 2019

The well-known Spanish financial giant BBVA has analyzed the crypt
markets to explore the development of the blockchain in recent years, determine its
current challenges and understand what the investor could bring the year forward.
The research was managed by BBVA Next Technologies, the software engineering arm
of the company specializing in emerging technologies.

Saying that the previous period was focused on "exploration", BBVA states that time has been used to determine the potential of blockchain, understand its limits and define the regulatory framework in which it can operate. Citing the current, third wave of blockchain as one that will carry the torch in the next year, they also name a couple of challenges that these projects will have to face in order to be successful:

  • scalability:
    the ability to increase transactions per second while maintaining security.
  • private life:
    the need to establish private channels between players.
  • Sustainability:
    the need to move away from the current financing model based on ICOs (through
    which "tokens" are generated to provide an initial cash flow), towards a model
    in which companies receive a constant flow of money over time to be able to be
    more sustainable
  • Governance:
    those actions to create and update the implicit or explicit rules of a
    blockchain system. These rules can be code, laws, or processes
    responsibility.
  • interoperability:
    the ability of different blockchain platforms to communicate with each other
    other and with the infrastructure of the traditional financial system.

According to their report, 4 projects are currently the best
equipped to face the above problems: Tezos, Cardano, Enigma and IOTA. Take a look
their analysis is complete here
to learn why exactly they feel this way.


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The opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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