Bitcoin Private (BTCP), a digital currency project aimed at providing maximum security and privacy as opposed to transparency, has reached incredible heights within a short period of time in the digital currency space.
What You Need to Know about Bitcoin Private (BTCP)
The digital currency was forked from ZClassic, which was also forked from Bitcoin. Ever since, the digital currency has been at the forefront of privacy digital currencies. BTCP uses the zk-SNARKs technology and it offers the highest level of security on any distributed ledger network.
Transactions on the network of BTCP are completely shielded and no one can read them; complete transaction anonymity. The network allows users to choose between a private or public address. The peculiar algorithm of the coin provides evidence of ownership without revealing the amount owned.
Dash was forked from the blockchain of bitcoin back in 2014 to offer improved solutions for scalability, transaction speed, and most prominently private transactions. Dash isn’t focused entirely on privacy in transactions, but it provides sufficient privacy for users to hide their addresses during transactions.
Unlike some other privacy digital currencies, Monero [XMR] utilizes a unique algorithm on its blockchain. The digital currency is based on the CyptoNight Proof-of-Work (PoW) hash algorithm. The coin also offers high-level security, the location and address of its transaction are almost impossible to discover.
When comparing the value of these privacy coins, Bitcoin Private (BTCP) falls short. It is the least valued coin among them, and it is valued at $15.72. On the other hand, Dash is valued at $269.4 and it is the highest among them. Monero [XMR] is valued at $129.4.
Bitcoin Private Market Performance
BTCP is one of the fastest evolving privacy digital currencies in the market. It was able to find its way into the top thirty digital currencies within a period of three months after it was launched. It has also recorded substantial growth in the crypto market.
At the time of writing, the digital currency is trading at $15.72 after an increase of 3.45 percent in the last twenty-four hours. From the look of things, the digital currency has the potential to outdo DASH and Monero in the future.