INTRODUCTION
Bitcoin 2 is a measured Bitcoin fork with private transactions and instant verified payouts. It is open source, anonymous, fast and based on the "Proof of Stake" algorithm.
Bitc2.org has found several bounties to help promote Bitcoin 2. A total of 100,000 BTC2 is allocated to reward campaigns.
Payout is one Bitcoin 2 per share unless the total campaign reaches over 100,000 bets.
in this case the payout will be 100,000 BTC2 / TOTAL CAMPAIGN STAKES * YOUR STAKES.
The last day submitting all your entries is June 28, 2018 (23:59 GMT). Subsequent entries will not be eligible for payment.
All payments will be made by jackleszz on March 30, April 30, May 30 and June 30, 2018. Ask him directly if you have a payment-related query.
Bitcoin 2 is a community-based cryptocurrency based on Bitcoin with a focus on decentralization, privacy, speed, scalability and real-world use. It uses an energy efficient Proof of Stake protocol and a second tiered Mascode network to handle confirming transactions in seconds.
Bitcoin 2 constantly strives to achieve instantaneous personal transactions, and the fungibility to remain one of the most advanced cryptocurrencies.
In layman's terms, Bitcoin 2 is basically a form of online digital money that can be easily transferred to the world in a blink of an eye with almost no transaction fees. You can convert your money into Bitcoin 2 and just hold it for a gift similar to interest, trade on the exchange to buy another digital currency or buy goods or services online and offline where it is received.
It is not owned or governed by a single person or organization and its network is secured by nodes around the world by its users.
The goal of Bitcoin 2 is to become a fast, secure, decentralized & personalized digital currency.
PRIVACY OF CRYPTOCURRENCY TRANSACTIONS
The most common cryptocurrency such as Bitcoin has a well-known general ledger system in which all transactions are visible and can be traced through its exploratory blocks. It produces everyone who has the ability to view all related transactions and balances but more importantly the associated address as well. This means that the history of the previous address owner can now be viewed through your own address after the coins have been passed through the blockchain and end up at your own wallet address.
An address may seem like it's entirely anonymous but if you make a transaction with an address generated by an exchange and / or other merchant service, you've basically linked your anonymous address with an address that could point to your identity.
Such transparency may not always be a problem. But this can be a serious problem if the coin you hold has ever been associated with an undesirable history or if your address is targeted by a potential thief.
For example, the coin you receive comes from an address owned by a person or organization that has committed an illegal activity and is being monitored and tracked by the governing authority. This now means that you may be asked about your relationship with the previous coin owner you have now even if you receive it legally and without your knowledge. This can also mean that coins with such histories may be considered less valuable, thereby reducing fungibility.
OUR SOLUTION = ZEROCOIN PROTOCOL (zBTC2)
To solve this problem, Bitcoin 2 has implemented a very well known protocol called Zerocoin with a lot of concealment that allows anonymity of block-level transactions in unlinkability.
We look at zBTC2, where BTC2 is a unit of Bitcoin 2 and z prefix is for Zerocoin.
What zBTC2 provides is an enumeration service using protocols using 100% anonymity and untraceability. This means that every coin sent using zBTC2 is now 100% replaceable because there is no inherent history.
Use of zBTC2 and others You can be disguised to avoid targets with thieves. This is a very unique feature and nothing is available on the market today.
The accumulation of bitcoin 2 zBTC2 is encrypted using RSA-2048 [1] Slow which can be used for setting up a trusted developer and means that no individual knows the facts. This means that everyone's privacy through the use of zBTC2.
UNIQUE FACTORS
By a genuine libzerocoin public repository created by an academic cryptographer, with additions made by the PIVX and Bitcoin 2 development teams.
Original Zerocoin White Paper: https://isi.jhu.edu/~mgreen/ZerocoinOakland.pdf
Unlike other cryptocurrencies currently using protocols based on zerocoin, Bitcoin 2 zBTC2 uses a highly efficient accumulator checking system that uses the zBTC2 process to use checks that contain before ZBTC2 is removed, and the selected number of zBTC2 candies outside checkpoints. It's possible to fill large quantities in the accumulator while still having much smaller requirements. The zBTC2 implementation of Bitcoin 2 produces minimal resources and results in zBTC2 transactions as one of the fastest personal transfers on the market today.
Bitcoin 2 TECHNICAL BENEFITS zBTC2
* The size of smaller spend transactions with an average of 25% greater than currently in the production environment (further optimization in work)
* Fast verification and Network setup performance
* Shop directly from zBTC2 to Bitcoin 2 address
* Some may be assigned Zerocoin in one transaction. Up to 17.
* Ability to spend the right amount and heavier better to address Bitcoin 2 or more zBTC2.
REAL LIFE BENEFITS USING zBTC2
* zBTC2 can hide your coins from a reconnaissance eye that protects you from being targeted.
* So your zBTC2 balance is not related to a particular address.
* zBTC2 can hide transaction history from sent coins.
* Address & target does not look private, safe & worth.
* Anonymous transactions zBTC2 is very fast.
* It takes 0.5 seconds to mint and 2.5 seconds to spend zBTC2.
* Automatic conversion to zBTC2 by default, but can be turned on if desired.
* This means that you can access the required transactions when needed.
HOW ANONYMAN ACHIEVED
* Mint (conversion) Your BTC2 into denomination zBTC2.
* Spend (send) your zBTC2 as BTC2 to any internal or external Bitcoin 2 address
Basically, zerocoin rules are shown to zBTC2 that has been completed (printed) from their BTC2 balances into specified denominations and used to send compilation of expenditures started. Keep in mind that merging does not mean that everyone's zBTC2 is stored in a centralized location. Massa, community ledger (decentralized blockchain), and many more zBTC2 that have been created and established by Bitcoin 2 Core Wallet
If you want to send (number) a number of zBTC2 to Bitcoin 2 addresses, refill your blockchain to allow zBTC2 Back to BTC2 and send to the target address in one step.
Because ZBTC2 creates new coins if a spender can provide zero-knowledge proof that also has a coin in a collection of accumulators (accumulators), a negative relationship of an address that can not be traced.
Finally, a simple analogy. Think of zBTC2 as a casino chip. You give your 100 dollar bills (eg BTC2) to the cashier and you get a few dollar bills 1x $ 10, 2x $ 20, 1x $ 50 (ie zBTC2). This means you no longer have the 100 dollar bill you redeem and help have "proof" that you still have $ 100. Now make you need 50 dollars from it as fiat (BTC2), you give your chip (zBTC2) back to the checkout and the cashier gives you a new 50 dollar bill that is not circulated to the recipients you choose.
zBTC2 Recording & Spending Process
In this example, Jack wants to send BTC2 to Jane using the Zerocoin protocol to anonymize transactions.
Step by step Minting Process
* Jack starts the request to give 960 zBTC2.
* Zerocoin Protocol Jack 960 BTC2 to the same number of zBTC2, using the largest zBTC2 denominations available.
1- Behind the scenes, Jack has provided secret information that makes mint mint (a unique serial number by the Zerocoin Protocol for a certain nominal amount of zBTC2).
* Balance Jack Lobby suit
1- With 960 decrease of BTC2, and 960 increase of zBTC2.
Step by step Expenditure Process
* Jack starts shipping 960 zBTC2 to Bitcoin 2 Jane's address.
* Zerocoin Protocol Accept and validate Jack's secret knowledge that proves ownership. In the past, a stopover of an indigenous person could not return.
* Zerocoin Protocol creates 960 BTC2 at the Bitcoin 2 Jane address.
1- Jane receives 960 BTC2 from anonymous delivery.
2- Balance Jack lobby accordingly - with decrease 960 in zBTC2.
Denominational Explanation
To improve the efficiency of the transaction while maintaining a high level of complexity, Bitcoin 2 has implemented a set of common denominators for the number of coins (BTC2) that become coin collections as zBTC2. (Similar to the chip chip above.)
Denominations performed by zBTC2 are: 0.05, 0.20, 1, 5, 20, 100, 500 and 2000. Using data sets that provide a good balance of simplicity, usability, and politics. The best way to reduce traceability would be to use only 1 denomination (ie 1 zBTC2); however, it's not very practical to do that, as it will require a large amount of coins.
Use enormous size Increase speed Unsafe state, you can set up 8 possible coin denominations. Arrange this to be a 'sweet' place because it does not include very low or too high coins in denominations. Because BTC2 values are changing, it is conceivable that we will respond or modify these settings to user requirements.
When you spend your zBTC2, you will only have proof that you have coins of denominations that cover only the other zBTC2 of the denomination.
This means that all zBTC2 redemptions will be made in various denominations (with those issued for different amounts). The number of possible to match before zBTC2 and after zBTC2 number of 2 different address while different amount.
Denominational Logic
When printing (converting) or spending (sending) zBTC2, each algorithm will automatically determine the denomination used.
When spending (sending) zBTC2 to the Bitcoin 2 address, the following algorithm will automatically determine the denomination used from the user
1). If you have the right amount, start with the largest denomination and lower it until you reach the total amount
2) Otherwise: Minimize Shopping (a) find the next denomination higher than the amount spent (if possible) and use it if available, (b) if it is not available starting with larger denominations and down until you reach an amount more than necessary
3) Or: Minimize Changes. If it is not correct, try to find the amount above what is needed that minimizes how many coins you receive in the change
Auto Minting
ZBTC2 privacy becomes more effective when there are more than every denomination printed from various sources. So to ensure its effectiveness, the Bitcoin 2 wallet has an optional feature to auto mint (convert) a configurable amount of BTC2 from wallet balances to zBTC2 without the need to manually convert.
Automint begins when the wallet / daemon starts, the wallet is unlocked (either completely or just stalked) and the blockchain is synchronized. This means that if your wallet is encrypted and locked, the auto-mint feature will not be involved. When the wallet is unlocked, it still will not touch the locked UTXO as it is used as a guarantee for masternodes.
- default percentage: 10%. Can be changed via GUI or through the command-line option `-zeromintpercentage = <n>` or bitcoin2.conf `zeromintpercentage = <n>` can not be less than 10%.
- default status: Disabled. Can be enabled (eg for exchange) via the command-line option `-enablezeromint = 1` or bitcoin2.conf` enablezeromint = 0` or in the options menu.
Users can now configure preferred denominations for Automint via UI, the command-line option `-preferredDenom = <n>` or bitcoin2.conf `preferredDenom = <n>` <n> is one of the denominations available in sen '5 / 20/100/500/1000/5000/10000/50000/ 200000` or `0` (meaning no preference at all and let Automint do whatever it wants).
If there are not enough coins available for the selected service automation wait until there is enough coins available.
With every new block coming in, it:
- Check how many printable coins are available.
- This does not include immature coins and locked coins (eg from masternodes)
- Check how many Zerocoin / zBTC2 are available
- Check if the percentage is below the target percentage
If the percentage is below the target percentage, it:
- Calculate how much BTC2 needs to be converted to zBTC2, for example 1005
- Use the next smaller denomination (here 500 BTC2) and 500 zBTC2 candy
Rinse and repeat until enough zBTC2 is printed.
In the example above the first incoming block will trigger the printing of 500 zBTC2, the next one again 500 zBTC2 and the third 5 zBTC2 (assuming that no new incoming BTC2 change the base number of BTC2 available).
The reason for using the next smaller denominations, and to use only one denomination per block is performance, proper denominations need not be split into exact denominations, and a single mint can be done within a reasonable time.
Exception: if a large number of BTC2s need to be printed, we DO NOT use our largest denomination 2000 BTC2 but instead one mint of each denomination has a more even distribution of the available denominations.
Spend Security Level
When the zBTC2 denominations are spent, the user is prompted to enter a Security Level pick from 1-100. Indirectly, the Security Level parameter allows users to choose how many coins to obfuscate their transactions.
Security Level 1, for example, will take all the coins printed in the blockchain before your mint is added to the blockchain, and then will add the coins that are printed in the next 10 blocks as well. Security Level 2 will do the same, except add 20 blocks worth of the next candy. Security Level 100 will increase the maximum amount of candy to the end of the current blockchain.
The higher the Security Level, the more the calculation and the time it takes to spend it. Although it takes longer, a level 100 is recommended for transactions that require maximum anonymity.
Handling Changes
Since zBTC2 consists of a fixed denomination, there will be times when the amount to be spent can not be made by the existing denominations. For example, if you have a single denomination 2000 zBTC2 but you want to send 1985 BTC2 to the address, there will be a difference of 15 BTC2 which will be accepted again as change. This change may compromise transaction privacy as it may lead back to your existing address if you mistakenly re-mix changes with your other Bitcoin 2 addresses.
To prevent this, there are 2 methods that can be used. The first option is to use the built-in feature that automatically changes changes back to zBTC2. This will spend zBTC2 into the required BTC2 amount to the target address, then print the remaining BTC2 changes back to zBTC2. This is the most convenient method. However, the number of changes that can not be converted to denomination (the lowest available denomination is 0.05) will be converted to cost.
The second option is to issue changes to the standard Bitcoin 2 address, which lets you handle the BTC2 segregation from your daily BTC2 balance. This option can cause errors and is not recommended if anonymity is important for transactions.
Data Integrity zBTC2
Each printed zBTC2 denomination is associated with a unique serial number stored in local wallet.dat and not on blockchain. This means that when a new zBTC2 denomination is printed, wallet.dat should be backed up because the previous backup will not have the serial number for the newly printed zBTC2 denomination.
The serial number and other important zBTC2 data commit to the database (wallet.dat) before the transaction is completed and broadcast to the network. This minimizes the risk of losing your newly printed zBTC2 fraction during unexpected events during zBTC2 printing, such as a PC interruption or internet connectivity issue.
Due to the local database design, it is important that your wallet be supported after every new zBTC2 mint to ensure that your denomination serial number has been updated.
- Technical Specifications (in Bitcoin 2 Core v2.0)
- Key Features: Custom accumulator checkpointing system
- Encryption Accumulator: RSA-2048
- Denominator zbtc2: 0.05, 0.2, 1, 5, 20, 100, 500, 2000
- Mint time:> = 0.5 seconds
- Spend time:> = 2.5 seconds
- Single Maximum spending limit: 34,000 BTC2
- Maximum nominal denomination limit: 17
- Max block size: 4 MB
- Cost (mint): 0.001 BTC2 per denominated zBTC2 printed.
- Cost (expenditure): There is no cost to spend zBTC2 back to BTC2. (In other words there is no charge to send zBTC2.)
- The minimum number of BTC2 confirmations required for mint zBTC2: 6
- The minimum required zBTC2 number required before spending: 20
Maturity requirements before zBTC2 can be spent: 1 identical mint denomination was added to the accumulator after you were added.
REFERENCEShttps://en.wikipedia.org/wiki/RSA-2048
Decentralization
Anyone with a computer can make money and contribute to running blockchain.
Low cost
Send money globally for less than a cent.
Scalable
To date, 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.
Bitcoin Wallet 2
Bitcoin 2 wallet is almost done. They need a little work and then the last test will start before we start. The wallet has been translated into several languages. Right after the launch, we will start applying for a crypto currency exchange list and start promoting more projects. Thank you for your support.
More Details Visit Bitcoin 2 Site Links:
Website: https://www.bitc2.org
Twitter: https://twitter.com/Bitc2org
Facebook: https://www.facebook.com/bitc2.org/
By Martin Vunk :
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