What is the difference between bt1 and bt2 (bt and bbt)

08/10/2023 02:17 • Metaverse Matters • 77 views

What is the difference between bt1 and bt2? On the Bitcoin blockchain, there is a digital signature method called bt1 (BitcoinUnlimited). It is referred to as “BFT” (BlockchainTokens) and it packages transactions into a series of data outputs generated by blocks, and then determines whether the transaction has been completed based on the information recorded in that block. This method is also known as a “chain” structure. “Chain” is a word in the Bitcoin code, which is bt2.

In simple terms, “Bft1” refers to a set of characters or a specific data set that contains multiple pieces of information and states. These cryptocurrencies are transferred through a particular address. If someone wants to use the BTFS protocol for cross-chain communication and send it to the Ethereum mainnet, they need to send a message from the network itself, which means that our running BTFS node operator can broadcast this message. This is different from traditional Bitcoin Cash payments, as they do not directly provide any value. Therefore, they do not need to know who the other party is or worry about their funds being lost. However, when you transfer the money, in fact, no one will look at this transaction history, and you cannot even find the names of both parties involved in the transaction. But for those who want to know details about exchanges, custodians, and brokers, etc., this is another option: “chain” refers to separating two assets and storing them in one place where everyone can access the same transaction through an independent network. In other words, users do not have to rely on a public ledger or other intermediate infrastructure to verify the entire transaction process. And when one party wants to transfer the private key, usually a third party is needed to handle this part of the transaction. For example, if a person decides to transfer their private key or account, then they don’t need to possess anything anymore. Since the blockchain is a decentralized world, only a portion of the participants can execute each transaction. On the contrary, they can receive these transactions faster—and only confirm them during the transaction process. Although some miners may try to make themselves a dominant company, he does not intend to change completely. It is not yet known which type of company accepts such a proposal, but at least one company has expressed willingness to take responsibility. In comparison, mainstream coins like BTC have more security measures and advantages than BTC.However, there are also exceptions. For example, on June 19, 2019, the Bitcoin Cash Foundation announced plans to support Bitcoin Cash as the underlying token for the Bitcoin Lightning Network. In March of this year, Bitcoin ABC developers announced that they provided the technical foundation and tools for the Bitcoin Lightning Protocol, creating an application called “Lightning Network (LTCBt1)”.

bt and bbt

According to the latest news, Bitcoin Cash (Btc) and bbt reached new highs on July 29, 2018, respectively. It is reported that the abbreviation of “Bitcoin Cash” comes from “bit”, and its core is distributed ledger technology, blockchain, and smart contracts. BBT was initiated and established by James Wo, one of the co-founders of the Ethereum Foundation.According to the official introduction, besides being open-source cryptocurrencies, bt and bbt also have a common point: they are both decentralized node networks. The Lightning Network, on the other hand, is a new solution based on Ethereum that allows anyone to participate. (Mars Finance)

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What is the difference between bt1 and bt2 (bt and bbt)

bt and bbt

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