What Is Bitcoin Vault (BTCV)?
Bitcoin Vault is based on Bitcoin’s SHA-256 cryptographic hash
function, but brings a revolution in the security aspect through the
anti-theft solution using an innovative three-key proprietary wallet.
Thanks to it, BTCV users have a 24-hour window to cancel unauthorized
The idea is to give users the possibility to react and eliminate
potential theft by reversing the transaction in case one private key
is lost or stolen. By delaying the default time necessary to transfer
assets from one block (around 10 minutes) to 144 blocks (24 hours),
and providing another key to cancel the transfer, users can rest
assured that their funds are secure.
What Makes Bitcoin Vault Unique?
The ecosystem of Bitcoin Vault will allow you to create different
types of wallets:
· 2-Key Vault,
· and 3-Key Vault wallet.
Each one of them can be used to send and receive crypto assets, but
the transactions are different. Apart from Standard transactions,
which lack additional security features, users can also make quick
Secure Fast transactions and reversible Secure transactions. The
reversible transactions are a novelty in the crypto world. They can be
canceled within approximately 24 hours, which is the time it takes to
mine 144 blocks to confirm the transaction on the blockchain. Now,
when a suspicious or erroneous transaction occurs, users have a chance
to stop it before their funds are gone!
Bitcoin Vault Security Keys
• Standard Transaction Key
The Standard Transaction key is generated along with each wallet. It
mainly runs in the background to ensure the smooth operation of all
transactions. Apart from functioning like an invisible layer of extra
safety, it can also be used to recover the wallet in case of a
security breach or technical issue.
• Cancel Transaction Key
As the name suggests, this key allows users to cancel transactions.
This has been made possible by regulating the number of blocks it
takes to confirm the transaction on the blockchain to 144. It allows
wallet owners to reverse a transaction within approximately 24 hours
of a regular BTCV transfer.
• Fast Transaction Key
This key is necessary to perform Fast transactions. It can be used to
execute a transfer in about 10 minutes, after one block is generated,
allowing BTCV users to make quick transactions with trusted parties.
How Many Bitcoin Vault (BTCV) Coins Are There In Circulation?
The total supply of Bitcoin Vault is limited by its software and will
never exceed 21,000,000 coins. New coins are created during the
process known as “mining”: as transactions are relayed across the
network, they get picked up by miners and packaged into blocks, which
are in turn protected by complex cryptographic calculations.
As compensation for spending their computational resources, the miners
receive rewards for every block that they successfully add to the
blockchain. In order to check all the newest information about the
Bitcoin Vault blockchain feel free to check: