Since decentralized blockchains are immutable, canceling transactions is not possible. So, if someone makes a mistake while transferring the funds or if there was an unauthorized transaction there is no way to revert the funds back into the wallet. BTCV is not a fork of Bitcoin, it is a new blockchain based on the code behind Bitcoin which uses the same hashing algorithm needed to mine new coins – SHA-256. Since its inception, the creators behind BTCV have continuously worked on methods to advance the safety of the coin, and fill the security void evident in other cryptocurrencies, which has not been focused on. After a year of research and development, they were able to launch a 3-key security solution. This feature has been designed to secure digital assets in case of an unauthorized or erroneous transaction. Each of the 3-keys (Standard Transaction Key, Cancel Transaction Key, and the Fast Transaction Key) has a unique role to play in increasing wallet security. More information can be found here.
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 issues in the world of crypto!
Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on BTCV: “The team behind Bitcoin Vault has really done something special, by developing a cryptocurrency based on a higher standard of security for their community, answering certain issue the whole crypto community has been facing for the past decade or so. With its strong emphasis on transparency, BTCV will flourish within our exchange, and I am sure our users will gain a lot of interest in what their team has to offer.”
Piotr Kozłowski, Chief Growth Officer in the Bitcoin Vault development team says that, “We were searching for a solid partnership for quite some time, and we finally found the perfect candidate in Bitcoin.com Exchange – with their big community they can help us achieve high liquidity and increased awareness. The cooperation and implementation process went through smoothly. We were really satisfied by the professionalism of their team and they definitely stood up to the challenge.
About Bitcoin.com Exchange
The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence.
About Bitcoin Vault
Bitcoin Vault is developed to provide an extra level of security based on a three-private-key security structure. It features all the convenience of Bitcoin while adding important features allowing user transparency and freedom.
The plan is to have Bitcoin Vault fully accepted by not only 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 over 11 years ago, this crypto space is still in its infancy. The dream is to have produced a product that can improve people’s lives.
Bitcoin.com Exchange
Contact Name: Antonio Bileci
Contact Email: antonio@bitcoin.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
[…]
Learn more
The defunct cryptocurrency exchange Mt. Gox is making waves again, this time with huge Bitcoin…
Lightning Labs, a leading developer in Bitcoin's Lightning Network ecosystem, has launched a groundbreaking protocol…
According to onchain data, a significant whale holding over 92,500 ether moved the funds to…
🛸Inspired by the internet's favorite extraterrestrial, Skinny Bob MemeCoin is revolutionizing the cryptosphere across multiple…
NFTs, or non-fungible tokens, are transforming various industries, including art, music, sports, and real estate.…
Proton Technologies AG, the Swiss company renowned for its encrypted email and VPN services, has…
Leave a Comment