PRESS RELEASE. Bitcoin.com Exchange is pleased to announce BTCV’s listing on the February 2, 2021 at 14:00 UTC. BTCV, a cryptocurrency that launched in 2019, claims to have come up with a theft-resistant security solution. According to its creators, Bitcoin Vault (BTCV) has been developed to be the ultimate coin for the crypto enthusiast, hodlers and traders alike. BTCV is listed with BTC as a trading pair on Bitcoin.com Exchange, with more trading pairs to be 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 money or an unauthorized transaction has taken place, there is no way to return the money to the wallet. BTCV is not a fork of Bitcoin, it is a new blockchain based on the code behind Bitcoin that uses the same hash algorithm needed to mine new coins – SHA-256. Since its inception, the creators behind BTCV have continuously worked on methods to improve the security of the coin and fill the void visible in other cryptocurrencies, which is not focused on. After a year of research and development, they were able to launch a three-key security solution. This feature is designed to protect digital assets in the event of an unauthorized or erroneous transaction. Each of the three keys (default transaction key, cancellation code, and the quick transaction key) plays a unique role in increasing wallet security. More information can be found here.
BTCV security keys
- Default transaction key
The default transaction key is generated with each wallet. It mainly runs in the background to ensure that all transactions run smoothly. Besides acting as an invisible layer of extra security, it can also be used to recover the wallet in case of a security breach or technical problem.
- 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 required 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 needed to perform quick transactions. It can be used to make a transfer in about 10 minutes, after a block has been generated, allowing BTCV users to quickly transact 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 problems in the world of crypto!
Why choose BTCV?
- Secure: Improved anti-theft solution that keeps your money safe.
- Simple: Based on Bitcoin Core with additional functions.
- Flexible: Users can choose between fast and highly secure transfers.
The Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his opinion on BTCV: “ The team behind Bitcoin Vault has really done something special, developing a cryptocurrency based on a higher security standard for their the entire crypto community is being answered. over the past decade or so. With its strong emphasis on transparency, BTCV will thrive within our exchange and I’m sure our users will get a lot of interest in what their team has to offer. “
Piotr Kozłowski, Chief Growth Officer in the Bitcoin Vault development team says, “We’ve been looking for a solid partnership for quite some time and we’ve finally found the perfect candidate in Bitcoin.com Exchange – with their large community, they can help us reach liquidity and increased awareness. The collaboration and implementation process went smoothly. We were very pleased with the professionalism of their team and they certainly took up the challenge.
About Bitcoin.com Exchange
Bitcoin.com Exchange’s mission is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from novice traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented by a high level of security, we provide an attractive platform for trading any cryptocurrency. Within a year of launch, our exchange was visited by over 500,000 active traders per month on average, and this number continues to grow as you read this sentence.
About Bitcoin Vault
Bitcoin Vault has been developed to provide an additional level of security based on a security structure with three private keys. It offers all the convenience of Bitcoin while adding important features that provide transparency and freedom to the user.
The plan is to have Bitcoin Vault fully accepted not only by 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 more than 11 years ago, this crypto space is still in its infancy. The dream is to have created a product that can improve people’s lives.
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