Bitcoin Confidential Price (BC)

The platform employs the latest Bitcoin codebase with the goal of maximum compatibility, adding new features for wider adoption of the asset. Using RingCT technology to conceal the details of transactions, such as receiver, amount, and sender, the facility gives the first priority to privacy. Despite the confidentiality of this information, operations remain verifiable on the blockchain while third parties are not able to observe transactions of stealth addresses. The block time doesn’t exceed a minute, but it delivers a lower block processing time in comparison with cryptocurrencies released previously.

With the introduction of the PoS algorithm in 2019, the platform made a revolutionary step that removed the necessity of costly mining equipment, thus economizing energy. The participants are rewarded when they resort to the enhanced staking mechanism, i.e. secure cold staking. Also, the rewards are paid by the system for validation work.

The staking period of the BC platform is 225 blocks with staking connections supported via Tor, IPv4, and IPv6. Apart from cold staking, users can also employ hot staking technology while the work over new features always continues.

Bitcoin Confidential history

The company started working on the project in 2018, and on December 15th, it created the snapshot of the SmartCash Blockchain for Bitcoin Confidential that determined the final specifications. Bitcoin Confidential is a sister project of Smartcash, which doesn’t have a working product but comprises products of different projects sharing the same philosophy, goals, and technical specifications. It employs the SmartCash blockchain that focuses on community governance based on a decentralized economy. When the Bitcoin Confidential platform was released, a minimum address balance was required to get the airdrop from the company. Users had to have at least 1 SMART to be eligible for free coins.

In January 2019, the team standing behind the platform finalized the core privacy protocol, completed the testing, and offered it to the public. In April 2019, the platform released its mainnet after it fixed all bugs which were discovered during the tests.

In May 2019, as BC got mentioned by a number of cryptocurrency analytical websites, it signified the beginning of the platform’s expansion. With a rigorous development schedule, the company continues working over QuickBC wallets, mobile wallets, bulletproofs, and atomic swaps enabling swaps between other cryptocurrencies inside wallets. The team always informs the community about the progress as they keep up improving the functionality of the platform.

Bitcoin Confidential platform

The holders of SmartCash must prove ownership of private keys to be able to claim an airdrop of BC that is given out to users only once. The founders follow the principles of fair launch that are implemented due to lack of pre-mining, thus contributing to the accessibility of the asset for all applicants. The generation of new blocks and validation of transactions is available for everyone. The stakers don’t have to use hot staking to earn rewards since the technology enables cryptocurrency holders to stake coins in remote nodes.

Those who prefer hot staking, though, should have a local wallet running on their computers to get rewards. For cold staking, users should close their local wallets since they set the remote stake address on a virtual private server. The detailed guide provided on the official website helps users to configure cold and hot types of staking.

As far as ROI (return on interest) is concerned, there is no difference between these types of wallets. However, the developers recommend using a cold type of staking to improve funds’ security. Thanks to cold staking, the assets are not exposed online round-the-clock as they are fully protected from hacking attacks and vulnerabilities.

Bitcoin Confidential security

With Bitcoin Confidential, there is no need to install a trusted setup to use the network, consequently, the backdoor threat is excluded. The staking algorithm allows users to preserve security and anonymity. Since private transactions are obligatory, there is full fungibility for all members of the ecosystem.

BC cryptocurrency BC can be stored on the SmartCash Web Wallet, Coinomi, Node Wallet, Electrum Wallet, Pungo, Atomic Wallet, and many others. The full list of supported wallets can be found on the official website of the project. The desktop wallets are also available for Windows, Mac, and Linux.

The website also offers educational materials with various guides for new users. The listed articles help them to claim airdrop, import private keys, run a VPS BC Tor hidden service, and perform many other activities.

The platform is equipped with a staking reward calculator that helps customers make more conscious investing decisions. As the staking rewards started with 5% for the first 11,000 blocks, they gradually decreased as the project grew later on. Bitcoin Confidential didn’t run an ICO and is entirely self-funded.

Bitcoin Confidential team

The team of the company is rather active on social media channels, offering different competitions and tournaments to the members of the community. However, its members remain anonymous and don't reveal their identities.