Bitcoin Private Cryptocurrency News

Bitcoin Private Rebase Initiative Said to the Most Important Project for BTCP

The Bitcoin Private team has announced that the Rebase Initiative is the most important project of the platform. According to a Medium post, the importance of the project stems from the fact that Bitcoin Private is a fork of ZClassic which is a fork of Zcash which was forked from Bitcoin. The situation mandates that it became necessary to build a code base that is close to that of Bitcoin.



The post stated that the present code base of Bitcoin Private is the same with that of Zcash which is already 3 years behind that of Bitcoin and therefore necessitates the Rebase Initiative.



The upgrade will in essence make Bitcoin Private a true fork of Bitcoin. This will also ensure that the complementary nature makes it possible to derive the necessary benefits accruable to a Bitcoin fork such as Lightning Network which has already been adopted by networks with compatible codes such as Ripple, Litecoin and Syscoin.

BTCP Price

Bitcoin Private Has Its Ups and Downs

BTCP is trading at $2.94. The coin was down by 0.52 percent against USD in the past 24 hours and is losing against Bitcoin by 1.51 percent, however it seems to recover slightly especially as Bitcoin is showing some signs of positive movements, bringing the whole cryptocurrency market slightly up. The trading volume in the past 24 hours is $106,648 with 25 percent of those changing hands at HitBTC. Exrates, Nanex, Trade Satoshi and Sistemcoin are other platforms trading the coin in substantial fraction of 20 percent, 14, 13, and 7 percent respectively.



Based on volume of trade, the price movement is partly dependent on the general coin market since it is not a coin with enough hype around it to independently generate enough buzz to boost upward price movement independently.



However, with the recent upgrade through the Rebase Initiative of the team and LN and SegWit adaptability, these features will likely grow the support base of the coin.

BTCP/USD Price Chart, Wednesday September 12th:

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