As of today, the last reported BTCP price is $1.2179. Bitcoin Private's market cap is $5.83M. 24 hour BTCP volume is unknown. It has a market cap rank of 262 with a circulating supply of 4,785,776 and max supply of 21,000,000. Bitcoin Private is traded on exchanges. Bitcoin Private had an all-time high of $40.86 almost 2 years ago. Over the last day, Bitcoin Private has had 0% transparent volume.
Bitcoin Private (BTCP) is a cryptocurrency that was created as a hard fork of Bitcoin and a simultaneous merge with ZClassic (a hard fork of ZCash) on February 28th, 2018. It combines the features of both cryptocurrencies providing its users with fast transactions and a possibility to fully hide their traces in the network. It is a fully community-driven project and it has no special team behind it. The key problem that BCTP focuses on is related to scalability. As Bitcoin’s popularity grew over the years and more transactions had to be registered on the blockchain, its small block size (only 1 MB) resulted in a scalability issue. Bitcoin can only process 7 transactions per second at the maximum. So when more people try to send funds in a given moment in time, those who set higher fees get the privilege to verify their transactions faster while others have to wait. Thus, transactions get sluggish, the fees spike and the whole system loses its efficiency. With such limitations, Bitcoin can hardly be used as a usual means of payment on a daily basis. Increasing the block size is one way to resolve this issue, but since the personality Bitcoin’s creator is still unknown and there is no person or company eligible to make this decision, it remains the way it is. In fact, the debates a...bout BTC’s block size have been going on in the crypto community for ages. A few projects dared to do that, and Bitcoin Private is one of them. In addition to doubling the block size (2 MB on BTCP vs only 1 MB on BTC), the project aims to resolve the problem of privacy. Although Bitcoin was initially designed to help its users stay anonymous, it is still possible to identify BTC wallet owners by gathering additional information about them on the web. Bitcoin Private implements the features of ZClassic that relies on Equihash, the algorithm that allows to carry out transactions in an anonymous way. Also, BTCP utilizes the zk-SNARKs privacy protocol, a zero-knowledge proofs method for additional privacy and security of transactions. BTCP was issued and distributed via a standard airdrop scheme with no premine and no founders’ reward. Both BTC and ZCL holders received to their wallets the amount of BTCP coins that was equal to their wallet balances at that time. The total coin supply of BTCP equals to 21 million, the same as BTC. On February 16-17th, 2018, BTCP conducted the coinburn. In the project’s whitepaper, this method was suggested as a possible solution in case BTCP suffers from an extremely low network hash rate. However, in December 2018, CoinMetrics issued a report revealing that there was a large number of illegitimate BTCP coins. The team confirmed the information and burned all the coins that remained on the users’ wallets during the network snapshot in order to recompense the owners of legitimate coins. Those who moved the coins to other wallets before that date managed to save their funds. In March 2019, BTCP was delisted from the cryptocurrency exchange HitBTC. The project’s team accused the platform of fraud for removing the coin without any valid explanation. For that, the platform posted a response that the reason for delisting was related to their concerns about the project’s security. According to HitBTC, the developers had not provided them with the code or documentation for the cryptography used in their blockchain. The coin hasn’t been placed back on HitBTC ever since. At the time of writing, BTCP is available for trading on Graviex and a few other small exchange platforms. It is supported by a number of wallets, including Electrum, Coinomi, Trezor and Ledger Nano S.Read More