Introduction to Bitcoin 2.0
Introduction
Cryptocurency and Blockchain technology can be considered as the most useful technology when it comes to finance. No wonder many projects now integrates it into their Businesses. Initially, the purpose of creating blockchain technology was to develop a payment gateway where people would be able to send and receive payment almost instantly with a very low fee. Also, users would be able to pay for goods and services without any delay. This has been effective since the integration of blockchain and cryptocurencies into financial system.
Another advantage of blockchain is the eradication of middlemen intermediary which makes transaction a bit slower and costly. Blockchain skips the middlemen to make transactions more easier, faster and cheaper. Additionally, all transactions are traceable on the network. Therefore, no shady transaction can be made, it’s visible for everyone to see and access. It is also tampered-proof, not easy to hack or breached. Initially, Bitcoin was the only Coin developed, but since it’s launch, many other coins and tokens have been created to maximize all other sectors of life. Example is Ethereum, which allows creation of tokens and smart contracts.
Developers finds it hard to use bitcoin blockchain because of its inflexibility to build other tokens on it. Ethereum of course supersede this feature by allowing developers to create amazing automated smart contracts that makes financial activities much more easier than before. To upgrade the Bitcoin technology, Bitcoin 2.0 was created to have features of bitcoin and also built under Ethereum Chain with many benefits attached to it.
What is Bitcoin 2.0?
Bitcoin 2.0 is a new Cryptocurrency / company that is looking to innovate the Global Payment System. – Website
Bitcoin 2.0 will make it easier for users to make payment for good and services from anywhere around the world without any restrictions. Bitcoin 2.0 will be making use of Ethereum blockchain instead of Bitcoin blockchain. Bitcoin 2.0 was created to have Bitcoin’s features but built on another chain which provides more flexibility to the developers.
Why do you have to use Bitcoin 2.0?
Highest Level of Security – Bitcoin 2.0 ensure the highest level of security to protect users funds and privacy. Users have the sole access to their accounts. Only one private key is produced for each wallet, hence, no one can have access to any wallet without the private keys or phrase. Also features like Hashing, Peer-to-peer Network, Zero-knowledge proofs are what makes the security more effective.
Transaction Per Second – Transaction speed is the average confirmation time a transaction is successful. Bitcoin 2.0 is an upgrade to Bitcoin with a faster and upgraded transaction speed.
Absolutely Private – Bitcoin 2.0 works as a completely private blockchain. All wallets are completely private as the blockchain generates unique private and public keys to users.
Average Transaction Confirmation Time – This is also x10 faster than bitcoin. Transaction will be confirmed by the network more quicker than its predecessor.
Why Ethereum Chain?
XBTC2 Token Details
Name – Bitcoin 2.0 Coin
Ticker – XBTC2
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Network – Ethereum
Total Supply – 200,000,000
N.B - XBTC2 Token is currently listed on Azbit and Coinsbit
Utilities of XBTC2 Token
XBTC2 can be used in more than 38,000 merchants in Austria and New Zealand and some other parts of the world. “Spend on restaurants, bars, cafes, hairdressers, Beauty Salons, Trades, Services, Plumbing, and even buy and sell cars, boats and property. We allow you to convert your Coins at anytime to Qoin to instantly spend across their merchant network.” – Website
Though, some are applied when spending XBTC2 coin in these outlets.
Team
The team is an highly experienced and hardworking professionals who are ready to take this project to the zenith.
Conclusion
Bitcoin is the pioneer cryptocurency in the Crypto space. But recently, due to the advancement in technology of different blockchain such as Ethereum which is much more flexible to use when compared to Bitcoin, many challenges are raised. Due to this, an upgrade is imminent; this brought a newly upgraded project called Bitcoin 2.0 built on Ethereum chain to improve and solve all the challenges faced by its predecessor (Bitcoin). Bitcoin 2.0 tends to create a global payment gateway with no restrictions.
Useful Links
Website - https://bitcoin20.org
Telegram - https://t.me/bitcoin2XBTC2
Instagram - https://www.instagram.com/bit.coin2/
Whitepaper - https://bitcoin20.org/whitepaper/
Author - jerryco