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Press Release

Bitvote (BTV) – A Distinctive Bifurcation of Bitcoin

February 01
14:30 2018

Recently, bitcoin was successfully bifurcated again, and a new bifurcation coin named “Bitvote” (called BTV for short) has been produced. There is no pre-mining and additional issue. BTV is a set of community consensus system, and an autonomous community organization of self-evolution and a safe digital cryptocurrency system have been formed. What’s different about BTV when compared with bitcoin or other bifurcation coins?

Strengthen user privacy

The blockchain can be read and written in the open account book by anyone, so bitcoin is not completely anonymous as what’s propagandized. Therefore, privacy advocates and enterprises hoping to use bitcoin shrink back, because they don’t want their financial data to be seen by the opponents or other people.

Till now, all privacy solutions have to compromise with scalability and privacy. Moreover, Confidential Transactions implemented by blockchain developers on the side chain also have technical defects, and there is a harsh requirement for the transaction scale.

Now Bitvote adopts a technique named Mimblewimble, which can prevent the blockchain from revealing all user information, so a method of bypassing this problem is provided.

Mimblewimble encrypts the transaction value by using “blinding factors”, bringing firm anonymity to users of bitcoin network. In this way, Mimblewimble uses analog output signature, rather than traditional transaction data, to verify the transaction, and its operation is similar to that of Coinjoin.

The vague identity input and output by Mimblewimble in the transaction has provided a guarantee for the settlement of anonymous deal, because it never leaves a trace about transaction amount and cash flow.

Have a democratic voting right

The scheme of Bitvote to solve disagreement lies in the democratized voting right of scattered communities, giving all participants in the community a chance to voice their opinions. The development direction will be determined according to the vote of majorities in the community, such as whether to support expansion, whether to deploy lightning network, and whether to support segregated witness.

DAO is called decentralized autonomous organizations, and refers to the combination of computer codes, blockchain technology, smart contract and men. The founder of DAO has formulated the basic rule of operation, and DAO owns stakeholders performing related rights, who have their own tokens. Basically, these stakeholders hope to increase the token value, so as to improve their status in the organization.

By adopting the organizational form of DAO, Bitvote solidifies the decentralized voting mechanism. Any community members have equal voting right and equal right to express their appeals. Such leadership organization not centralized will collaborate in a more democratic way. DAO is different from the organizational relationship of traditional business division, and DAO’s token holders (also known as shareholders) have the right to “approve”, “oppose” or “waive” any proposal faced by the organization through voting, differing from the traditional situation where board of directors and managers decide the community development.

DAO’s operation rule puts “efficiency” first when handling matters, and does not lay emphasis on post. The most important part is that we obtain the contract with projects, and are no longer employed as employees in the autonomous organization of blockchain.

DAO is the most ideal output of the technical revolution for cryptology. Bitvote applies the management layer of cryptological technique and automation based on trust, enabling DAO to operate under the control of a set of business rules, without human participation. If DAO is the extreme mode implemented by the autonomous agents through artificial intelligence or intelligent programs, then we can imagine the evolutionary path of a DAO. Every stage is established on functions of the previous stage, i.e.:

• Participative – users voluntarily and independently participate in a loose task.
• Collaborative – users conduct collaboration, to increase value for the target projects.
• Cooperative – users hope to acquire some shared benefits.
• Distributed – propagate these functions through proliferation on a larger network.
• Decentralized – realize further extendibility by injecting more power into the edge.
• Autonomous – artificial intelligence and artificial intelligence algorithm of autonomous agents, intelligent programs and continuous improvement will provide self-sustaining operation and value creation.

The core of DAO organization evolution of Bitvote lies in users, and all foundation frames should support users’ actions. The functions of participation and collaboration are both based on users, but the distributed decentralized system is based on the framework. Users can take part in DAO with three modes: purchase tokens or shares, be awarded with tokens or shares, or acquire any tokens or shares through other means (such as mining). Autonomy does not mean absence of restriction, and there is a need to consider different parts constituting management, and whether shareholders can participate actively (such as voting, management, rule establishment, rule inspection, decision making, reporting and management) and passively (such as feeling valued and respected or compensated fairly). Anyhow, the management must be transparent.

Bitvote owns stakeholders performing related rights, who have their own tokens. Basically, these stakeholders hope to increase the token value, so as to improve their status in the organization.

The latest update log:

Update on 20 Jan. 2018: The main chain is formally issued (https://github.com/bitcoinvote/bitcoin). Please use code compilation and synchronous data.
Update on 21 Jan. 2018: COINEX Exchange issues BTV airdrop, and introduces BTV/BCH transaction pair; BTV recharging and withdrawal are coming soon.
(https://github.com/bitcoinvote/bitcoin)
Update on 22 Jan. 2018: The mining pool scheme has been published in GitHub (https://github.com/bitcoinvote/bitcoin); please refer to the above website.
Update on 23 Jan. 2018: The white paper of Chinese version and English version is formally issued.
Update on 26 Jan. 2018: The mining software of Windows x64 version (http://bitvote.one/download/cpuminer.zip) is formally issued; please use code compilation for Linux version, and use CPU to mine and vote.
Update on 27 Jan. 2018: QT wallet of Windows x64 version (http://bitvote.one/download/bitvote.zip) is formally issued; please use code compilation for Linux version.
Update on 28 Jan. 2018: BTV mining is introduced in uupool; please refer to the course for more details (http://www.uupool.cn/course/btv).
Update on 29 Jan. 2018: HYPEX Exchange introduces BTV recharging and withdrawal, and BTV/BTC and BTV/ETH transaction pairs have been introduced.

Information about the mining pool:

http://bitvotepool.com/
http://uupool.cn/
(Third-party mining pool at present)

Official community account of Bitvote:

Official website: http://bitvote.one/
Official e-mail: [email protected]
BeeChat community: https://beechat.io/join?g=7a68dfdb9bdf4ba489cd505e35e24084&lang=zh
Official account of WeChat: bitvote
Reddit: https://www.reddit.com/r/bitvote_one/
Twitter: https://twitter.com/Bitvoteone
Github: https://github.com/bitcoinvote/bitcoin

Media Contact
Company Name: Bitvote
Contact Person: Lucas
Email: [email protected]
Country: Japan
Website: https://bitvote.one/

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