What is BTB? What is BTC?

What is BTB? What is BTC? What is BTP? What is BC?

The blockchain protocol is based on Bitcoin fork, which allows users to conduct decentralized transactions through smart contracts. It has built a new distributed ledger technology network based on Bitcoin to support various types of applications and their operations. This means that anyone can freely create and use their own code or software to execute specific tasks. At the same time, this system also allows users to write, deploy, and control their smart contracts.

Therefore, if a blockchain network is widely used for many business activities (e.g. payments), then its operation is simple: transferring funds from a single account to multiple accounts or a multi-signature wallet, or sending it to a specified wallet without involving a third party. However, for those who want to handle cryptocurrencies in other ways, it is a costly and expensive effort. However, as more and more developers join this ecosystem, we must also recognize the potential and possible uses of this emerging technology. How to address this issue currently has no specific answers for discussion; but it is important to clarify that anyone can achieve this goal by sharing information with others. What is BTB? What is BTC? What is it? Why is there a need for a decentralized network?

Because most projects want to manage their data storage and value transfer on a centralized system. When some public service providers try to implement permission systems on certain content, they lose support for their resources. In order to enable the blockchain to operate effectively, a “consensus mechanism” is needed, in which all ownership validator nodes (i.e. users participating in off-chain voting) jointly decide whether to approve new rules or modify existing policies. In addition, the “trust” model is an incentive measure aimed at ensuring their compliance with laws and regulations and avoiding damage caused by fraudulent activities. The “credit” model is intended to encourage capable companies to adopt “transparency” and a “fair competitive environment”. However, there is one disadvantage: the “trust” model requires companies to return cash reserves to investors, rather than purchasing assets. In other words, because there is no need to disclose these obligations, the private key cannot be retained.

Nevertheless, decentralized platforms like BTB have emerged and may soon start playing a role. In the past few months, the Bitcoin Core team has been working hard to build a community-operated open-source blockchain architecture. Since its launch in December 2017, the BitMEX exchange has launched multiple trading pairs such as BTC/USDT, ETH/USDC, and LTC/USDT. (CryptoBriefing)

Original text source from bitcoke.