White Paper

BTC Network White Paper

1. Introduction

BTC is a global cryptocurrency whose defining purpose is to make sure and provide users with immediately fast, more secure and privacy protected transactions across the globe. The user’s right to privacy is critical in the crypto community and financial world. A lot of cryptocurrencies have tried to solve the privacy issues but at the same time, they couldn’t manage without any compromise on their block chain networks. Still, there are some top currencies like Bitcoin that can’t promise anonymous transactions.

The first implementation of user invisibility and privacy protected transaction was already started. BTC Network is improved and implemented user invisibility with an updated protocol and it provides better privacy, usability and performance to the previous solutions.

With an aim to take forward the spirit of cryptocurrency, BTC Network takes mission to bridge the gap between the tech-savvy and tech wary. It wants to provide a safe means through which not only investors but also the general public could conduct business with more privacy and more instantly on their very own behalf without the help of financial institutions or middle-men.

Project Phases

The BTC Network has been divided in three phases in order to create an easy-to-understand overview of the development plan from the team. Each phase represents a milestone for BTC Network and can be triggered by a specific event.

Phase 1 – Initial Phase

In this phase of project, We launch the BTC Network miner app which enables users to start contributing to the system by earning Satoshi with their friends. Users can do the normal mining and increase their mining rate by refer their friends. Their Satoshi balance will be stored and safe on the BTC Network app’s cloud server.

Phase 2 – 1 million users’ milestone

KYC will be implemented to ensure the validity of users. The BTC Network app is release and provides a secure system for players to see user’s personal history, and some options for investing Satoshi for the opportunity to earn even more. What is more, we’ll provide contest option. Users can participate in that contest and earn more Satoshi.

Phase 3 – 5 million users’ milestone

At the time of the third phase, we will enable more options in the app to resolve all queries and make BTC more valuable in real life. So, user can use their mined Satoshi.

Roles

There is currently only one role in the BTC Network app, the role of miner which describes the individual that uses the app in order to earn Satoshi.

Referral

The concept of referral means the ability of miners to authenticate new players, since each player contributes equally to the network’s security and stability, the new player and the person referring will get100 Satoshi when the referred miner will verify his email.

While the number of new users an existing one can refer is not capped, the calculation for the equivalent reward for the referring user is reflected by the formula below:

4 + [1 x referred users] = [total referral rate reward]

Mining Rate

The mining rate represents the rate at which a player earns Satoshi and is expressed as [number of Satoshi Mining]/(per) [hour] which is rewarded in its entirety after the 24H mining cycle in which it has been earned, whenever the user connects to the application again. If someone has logged out from the BTC Network, mining will be stopped.