HONG KONG, March 19, 2021 (GLOBE NEWSWIRE) -- The BTCU network, owned by PROF-IT BLOCKCHAIN LIMITED, under the watchful eyes of Bohdan Prylepa, is excited to inform the crypto world and the BTCU community in particular about the launch of the BTCU testnet, Orion. The purpose of Orion is to help in identifying vulnerabilities of the BTCU application that could lead to unauthorized access or other forms of exploits by cybercriminals. To achieve this, the public is invited to take part in the assessment of the BTCU blockchain application and its source code.
The assessment of the testnet helped in preparation for the MainNet launch that took place on the 5th of February 2021. Thorough testing of the network not only enables developers to test, create, and modify the functionalities of the BTCU blockchain but also helps in monitoring its network performance over time. Consequently, the BTCU team will be able to have an independent and unbiased view of the application, which will, in turn, help businesses and other entities to appreciate the built-in capabilities of the network.
Another advantage of thoroughly assessing the BTCU application is that it will help the developers to predict how the network will operate when it finally goes live. Meanwhile, stakeholders will be able to have a clear understanding of the different features of the BTCU such as privacy, security, usability, interoperability, etc.
Background on the BTCU platform
The BTCU (Bitcoin Ultimatum) is a new-generation Bitcoin fork that incorporates all first-class features of the crypto world into its platform and is led by Bohdan Prylepa (current COO of the company). BTCU is an initiative of Prof-it Blockchain - a company that develops blockchain solutions and high load platforms wherein Bohdan Prylepa doubles as the CTO of the company.
Some of the features produced by Bitcoin Ultimatum include but not limited to smart contract capabilities, LPoS mining algorithm, PoA, private transactions, etc.
The development of smart contracts on the BTCU blockchain will be done in conjunction with atomic swap technology to allow transactions to be carried across multiple networks, not just on the BTCU protocol itself. This will be very beneficial to users who want to switch between blockchains to take advantage of features that are exclusive to certain networks.
With regards to privacy, it is obvious there are many people who like to keep certain types of transactions away from public view. So the importance of private transactions cannot be overemphasized.
Meanwhile, the PoA protocol that is used for transaction validation on the BTCU blockchain helps to increase bandwidth which, in turn, enables the chain to scale up to 10,000 transactions per second. This makes the BTCU blockchain thousands of times faster than the Bitcoin chain which processes only 4-5 transactions per second.
Media contact
Company: PROF-IT BLOCKCHAIN LIMITED
Contact: BOHDAN PRYLEPA, CTO
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SOURCE: PROF-IT BLOCKCHAIN LIMITED