The Midas Touch: The New Bitcoin Fork BTCU Showed the World Its Team Led by Eric Ma as CEO

The Bitcoin Ultimatum (BTCU) team has announced the appointment of a well-known blockchain figure, Eric Ma, to the position of the project's CEO — in the recent past, Ma used to be one of the key employees of Coinmarketcap. BTCU is a new fork of Bitcoin created by the Prof-it Blockchain development team with the support of the leading cryptocurrency exchange Coinsbit. In connection with the upcoming launch of the Bitcoin Ultimatum project, it decided to introduce its team to the world, which, in addition to Ma, has recently been joined by global blockchain industry advisors Dinis Guarda and Juliet Su.

Combining Bitcoin and Ethereum best features

The BTCU team faces a serious task: improving the Bitcoin blockchain and creating new technologies that would solve the key problems of the crypto community. The concept of BTCU is in many aspects similar to that of the second largest cryptocurrency network — Ethereum. Like Ethereum, the Bitcoin Ultimatum blockchain provides for the presence of smart contracts in the blockchain protocol, as one of the important functions for implementing transactions and DAPP applications. In general, BTCU seeks to combine all the best that allowed bitcoin and ether to take a leading place among cryptocurrencies — Bitcoin's high idea, and the ability to create smart contracts, thanks to which Ethereum has become so popular.

The BTCU team opposes classic cryptocurrency mining through the use of computing power. This method is harmful to the planet's ecology, and also promotes centralization, as it becomes more expensive and inaccessible to most of the network's users over the years. While Ethereum began a gradual transition to a PoS mining algorithm on December 1, 2020, the BTCU team decided to completely abandon outdated coin mining models by switching to an LPoS mining algorithm combined with PoA.

Proof-of-Authority, or PoA, is a concept proposed by Ethereum co-founder Gavin Wood. The POA algorithm differs from the more common Proof-of-Work and Proof-of-Stake. Running on PoA, there is no competition for the right to generate blocks and, accordingly, for remuneration between miners. In PoA, only trusted nodes called master nodes generate the blocks, and authorized nodes that meet strict data transfer rate requirements can only perform this function.

What kind of people stand behind the new Bitcoin fork?

We all know that team matters. And behind BTCU are extraordinary and talented people known in the blockchain industry. We will tell you a little about each of them.

The BTCU project is led by CEO Eric Ma and Co-founder Nikolai Udianskiy. Eric Ma is a former core member of CoinMarketCap. He is an exceptional leader with strong experience in building groundwork as well as in the expansion of a company. He understands the importance of community as the foundational layer of a successful project and looks to position BTCU as an industry leading project.

“As the CEO of BTCU, I see technological innovation as the key driver. With the demand for blockchain technology continuing to grow, together with our talented team, I will help lead BTCU to become one of the top cryptocurrencies in the world!”, Eric says.

The BTCU Co-founder Nikolai Udianskiy has 7+ years of experience in creating, developing, and investing in crypto projects. Nikolay is one of the top-10 crypto experts at the World level. He took part in the creation and launch of 5 of the 50 leading crypto exchanges, including Coinsbit, which has entered the top-10 exchanges of the world in just two years with over one million users. Nikolai is the founder of the EVO Country Club which is a kind of Silicon Valley for blockchain projects. Nikolai Udianskiy is also the founder and CEO of a marketing agency that specializes in promoting crypto projects — PRMR.com, and the founder of a cyber security company, ASSUR, which is one of the leaders in its industry offering reliable solutions.

The rest of the leadership team are:

Bohdan Prilepa — Chief Operating Officer

Bohdan has 7+ years of experience in Internet marketing, IT and web development. He is an expert in business development, financial model creation, and monetization model specialist. Likewise, Bohdan has the experience in launching business start-ups, attracting investments and forming investment portfolios. He's the Co-founder, CMO in MLCI Inc. — crowd-investment platform to attract investment for innovative projects. From 2016 till now he is the Co-founder and CMO in Prof-it — a company working on web and mobile development and design, and mobile apps development.

Juliet Su — Business Development Officer

Juliet is the Сo-founder of Digital Week Online, and the Co-founder and CEO of Eurasian Center of Innovation and Digital Economy under the initiative “One Belt One Road”, as well as the strategic advisor of the World Blockchain Invest Alliance.

Andriy Saranenko — Chief Technology Officer

Andriy Saranenko is an experienced product and project Top-Manager with 3+ years experience in Blockchain and IT development, including product launch and technical support. Andriy is a professional of software development planning and management.

Vadim Yarmak — Chief Marketing Officer

Vadim Yarmak has 7+ years of experience in digital marketing, СOO in PRMR, brand strategies and tactical plans, market research & analysis.

Dinis Guarda — Global Advisor for Strategic Development

Dinis Guarda is currently the chairman and co-founder of Ztudium, Techabc and Open business platform. He created the platforms openbusinesscouncil.org, citiesabc.com and fashionabc.org, and multiple blockchain and AI tech like idna. Dinis is an author, speaker, entrepreneur, advisor, and CEO. Dinis authored '4IR — How to Reinvent a Nation', 'How Businesses and Governments Can Prosper with Fintech, Blockchain, and AI' and 'Blockchain, AI, and Crypto Economics–The Next Tsunami', among others. Dinis runs a fast growing Youtube Podcast series where he passed 4 million views in the first 6 months and has interviewed 100+ personalities so far including leading AI personalities, a Minister from Japan, Leading CEO, Fintech, AI, Smart cities, Crypto, Blockchain personalities and Bollywood stars. Dinis is a global renowned thought leader listed continuously as number 1, 5 and 10 positions as global influencer in Fintech, blockchain, AI, and social media industries.

The BTCU Airdrop: how to get your coins during the BTC fork

The team is working to make sure every Bitcoin holder can claim their BTCU coins. The launch of the BTCU network will take place through a hard fork of the Bitcoin network. Each bitcoin holder will be credited with BTCU coins in an amount equivalent to the number of BTC in their wallets at the time of the hard fork. During the AirDrop, the BTCU Team will transfer these coins to a special wallet for storing, which will be published on the official website of the project.

It is important that the coins will be credited only to the wallets of exchanges that publicly declare support for the new bitcoin fork. This is done to avoid charging coins to wallets where the coins will not be used, and will be lost. However, users of the exchanges that will not support the AirDrop will be able to claim their share of BTCU by providing proof of the BTC balance in their account at the time of the fork.

Conclusion

Bitcoin is forecast to become the future of finance. However, Bitcoin carries over legacy issues that might endanger that stellar progression. The BTC Ultimatum (BTCU) team spotted these and set out to solve what was dragging Bitcoin behind: the excessive energy consumption associated with mining, scalability, and transaction anonymity. And all while maintaining all of its useful characteristics.

BTCU next-gen blockchain based on Bitcoin fork have the potential to cover millions of hours of paperwork every year, hold public officials accountable through smart contracts and provide transparency by recording public records of all activities. Blockchain-based voting could improve civic commitment by providing high levels of security and incorruptibility that can allow voting to be done on mobile devices.