PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of BTCV on the 2nd of February 2021 at 14:00 UTC. BTCV, a cryptocurrency launched back in 2019, claims to have come up with a theft-proof security solution. According to its makers, Bitcoin Vault (BTCV) was developed as the ultimate coin for the crypto enthusiast, hodlers, and traders alike. BTCV will be listed with BTC as a trading pair on Bitcoin.com Exchange, with more trading pairs being introduced at a later stage.
What Is Bitcoin Vault (BTCV)?
Since decentralized blockchains are immutable, canceling transactions is not possible. So, if someone makes a mistake while transferring the funds or if there was an unauthorized transaction there is no way to revert the funds back into the wallet. BTCV is not a fork of Bitcoin, it is a new blockchain based on the code behind Bitcoin which uses the same hashing algorithm needed to mine new coins – SHA-256. Since its inception, the creators behind BTCV have continuously worked on methods to advance the safety of the coin, and fill the security void evident in other cryptocurrencies, which has not been focused on. After a year of research and development, they were able to launch a 3-key security solution. This feature has been designed to secure digital assets in case of an unauthorized or erroneous transaction. Each of the 3-keys (Standard Transaction Key, Cancel Transaction Key, and the Fast Transaction Key) has a unique role to play in increasing wallet security. More information can be found here.
BTCV 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.
This anti-theft feature has made it possible for BTCV users to cancel and reverse transactions without changing the nature of the blockchain. The 3-Key Security Solution is the answer to your security issues in the world of crypto!
Why Choose BTCV?
- Secure: Enhanced anti-theft solution providing safety of your funds.
- Simple: Based on Bitcoin Core with additional features.
- Flexible: Users can decide between fast and ultra-secure transfers.
Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on BTCV: “The team behind Bitcoin Vault has really done something special, by developing a cryptocurrency based on a higher standard of security for their community, answering certain issue the whole crypto community has been facing for the past decade or so. With its strong emphasis on transparency, BTCV will flourish within our exchange, and I am sure our users will gain a lot of interest in what their team has to offer.”
Piotr Kozłowski, Chief Growth Officer in the Bitcoin Vault development team says that, “We were searching for a solid partnership for quite some time, and we finally found the perfect candidate in Bitcoin.com Exchange – with their big community they can help us achieve high liquidity and increased awareness. The cooperation and implementation process went through smoothly. We were really satisfied by the professionalism of their team and they definitely stood up to the challenge.
About Bitcoin.com Exchange
The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence.
About Bitcoin Vault
Bitcoin Vault is developed to provide an extra level of security based on a three-private-key security structure. It features all the convenience of Bitcoin while adding important features allowing user transparency and freedom.
The plan is to have Bitcoin Vault fully accepted by not only the current crypto-community, as one of the major players in the space, but also by newcomers to the industry, and enterprises. Despite the fact that the first Bitcoin was mined over 11 years ago, this crypto space is still in its infancy. The dream is to have produced a product that can improve people’s lives.
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