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As BTCU Bitcoin Ultimatum’s Mainnet goes reside, we converse with CEO Eric Ma to seek out out extra in regards to the venture and what’s subsequent on this actually next-gen blockchain.

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Constructing a brand new blockchain is a large enterprise. It requires a succesful workforce of specialists, management, real-value proposition and a strategic roadmap which must be detailed, sensible and followed-up upon. BTCU Ultimatum actually checks all these packing containers. They efficiently carried out the Bitcoin Fork and launched the BTCU Mainnet on February 5, 2021 and airdropped BTCU tokens the week after. They’ve their sights on the subsequent milestone: integrating Atomic Swaps to the platform. The whole lot, below the management of CEO Eric Ma. We sit with the veteran blockchain professional and former core member at CoinMarketCap to discuss the present state of BTCU Mainnet and what the longer term holds for this promising next-gen blockchain.

BTCU goals to construct a next-generation blockchain from a Bitcoin fork. What does next-gen imply on the subject of blockchain?

Bitcoin and Ethereum are the 2 greatest blockchain networks on the earth however every has its personal traits. Ethereum is extra of a platform constructing different decentralized applications upon, permitting for sensible contracts. Bitcoin, then again, has change into extra of a store-of-value, though it was first conceived as a brand new peer-to-peer cost system. With BTCU, utilizing the already confirmed and effectively regarded Bitcoin blockchain, we’re combining each networks and leveraging what works finest in every of them.

We’re constructing a next-gen Bitcoin based mostly blockchain on Ethereum that might enable us to tokenize property which may apply to totally different tasks and property outdoors the scope of cryptocurrencies. Our answer additionally goals to enhance upon the unsustainable, vitality consuming proof-of-work (PoW) consensus algorithm with a brand new Ultimatum proof-of-stake (UPoS) consensus algorithm, making it extra democratic, scalable, environment friendly and sustainable. 

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What does BTCU attempt to obtain by combining Bitcoin and Ethereum, and the way does BTCU stand out from different tasks?

The idea of BTCU is in lots of elements just like that of the second largest cryptocurrency community — Ethereum. Like Ethereum, the Bitcoin Ultimatum blockchain has the power to accommodate sensible contracts within the blockchain protocol. This is likely one of the essential capabilities for implementing transactions and decentralized purposes (DApps). On the whole, BTCU seeks to mix all the very best options that allowed Bitcoin and Ethereum to take prime ranked spots in cryptocurrencies by market capitalization.

Now we have developed BTCU to supply a decentralized ecosystem with sensible contracts by its Final Proof-of-Stake algorithm. A mix of Leased Proof-of-Stake (LPoS) and Proof-of-Authority (PoA), BTCU is extra democratic, extra scalable and extra vitality environment friendly than Bitcoin. We constructed the BTCU Mainnet to be scalable and utilized in a variety of purposes: from asset tokenization to rights administration, provide chain and doc circulate for cross-border funds, governance, actual property to fintech, healthcare and extra. Our imaginative and prescient is to create a blockchain that’s environment friendly, easy-to-use and has actual worth for widespread adoption. Bitcoin Ultimatum’s technological benefits will change the way in which we see blockchain.

Blockchain is synonymous with decentralization and group. How essential is suggestions from the group to BTCU?

The group is the center of any blockchain venture. We aren’t simply launching a brand new product to the market, we’re constructing a platform with our group. In reality, their suggestions was crucial for launching the BTCU Mainnet. On January 21, 2021, we launched a closing testnet. This train enabled builders to check, create, or modify functionalities and monitor the BTCU blockchain community efficiency. It additionally helped present an goal and impartial view of the community to allow events and companies to understand and perceive the community’s capabilities.

We opened communication channels by GitHub and the suggestions was actually essential for us. It helped us predict the operation of the community in addition to present stakeholders with details about the standard of the BTCU blockchain safety, privateness, capabilities, usability, integration and interoperability.

It was so successful that we may launch the ultimate mainnet 2 weeks in a while February 5, 2021. From right here I wish to thank the group once more for being energetic and for contributing their enter.

Will we see another community-driven tasks from BTCU?

Completely, we strongly consider {that a} blockchain venture can solely progress with the complete help of its group. We’re thereby glad to work and collaborate with different tasks, particularly on a wide range of safety and tech points.

To additional enhance our venture, we invite everybody to participate in our bug bounty program. This system is designed for anybody who desires to contribute to growth of BTCU and to make sure the safety and robustness of its community.

For his or her time and work, now we have put in place a reward system. Members of the group who work on pressing duties or clear up discovered bugs will obtain BTC / ETH / USDT / USDC / BTCU for his or her efforts.

We’re all the time accessible at [email protected] for extra info.

Now we have additionally began an Ambassador Membership. With the bulletins of newly joined ambassadors like Javed Khattack and Serafima Semkina, our workforce wish to proceed to convey onboard different group leaders who share our mission.

The BTCU Mainnet is out, however that is simply step one in an extended highway map. What does the longer term maintain for BTCU?

I’m very excited for the milestones now we have achieved up to now. Our dev workforce has labored extraordinarily exhausting and deserve all of the credit score for the success of BTCU up to now. Certainly, launching the BTCU Mainnet is just the start and now we have an extended roadmap of latest and thrilling additions to the platform.  

We’re engaged on the addition of the sensible contract system which might enable for atomic swaps. We’re additionally closing strategic partnerships with key platforms like citiesabc and open enterprise council to check out our cellular wallets, pilot applications and the tokenization of {the marketplace}. As well as, we’re additionally partnered with the World Good Cities Discussion board to make our blockchain accessible to make use of in Good Cities around the globe.

To maintain monitor of DeFi updates in actual time, take a look at our DeFi information feed Right here.

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