5 January 17:00 P.M UTC+8
Live AMA Recap with “Luan Schenkel” BTEcoin CMO
Q1: It has been a great moments in the market as BTC just breaks $33000 at the beginning of 2020, The market is excited, how long do you think this bullish market will last? Can you share more about BTEcoin Plan for 2021?
Luan Schenkel: Oh, Good question, BTC enables lots of people stay at home without any economic pressure. I have heard much analysis about the Crypto market recently. Big financial agencies like Grayscale also buy lots of BTC, As you can see, that BTC breaks $33000 and ETH is also over $1000. A Polkadot ecosystem is also a boom. I believe that the market will continue to bull in 2021. and BTEcoin team will also explore this field and provide more products to all users.
We will expand our market in Asia, especially in China. China has 1.4 billion people and has the most crypto users all over the world. Chinese users are open and quick learner. So I am quite confident about the Chinese market. I am sure we will make wonders.
Q2: What measures does BTE have in terms of private security to protect the security and privacy of users’ assets? How to balance innovation and security as it’s really needed in the market?
Luan Schenkel: Protecting user’s asset security is our invariable purpose. The industry needs innovation. But it does not mean we will explore innovation but ignore safety.
Not ignore, but pay little attention to Safety. as for BTEcoin, based on the account and UTXO hybrid model, the BTE public chain implements a blockchain privacy transaction system. While using the UTXO system, it retains the accounting system to join the ring signature and one-time address, allowing the account to switch freely between privacy and publicity. At the same time, it is untraceable and unconnectable.
On the BTE public chain network, personal information is stored dispersedly on all nodes, and anyone can review it publicly, realizing a multi-centralized data storage model. In the BTE public chain system, each node has a high degree of autonomy. Any node can become a phased center. A non-linear causal relationship is formed between nodes and nodes through the network to achieve decentralization, openness, flatness, and equality system.
we also realizes DEX decentralized transactions through BTC Relay and HashLocking.
so welcome all of you to experience our new function.
Q3: Since 2020, Countless projects have signed that they provide a cross-chain solution but sadly many of them just a hype point. How does BTE cross-chain work? Compared with another cross-chains project, what is the biggest feature?
Luan Schenkel: The BTE public chain adopts the Hashlocking method in cross-chain transactions to realize cross-chain atomic transactions most simply. Atomic transactions are using the BTEcoin public chain scripting language to build smart contracts to authorize cross-chain transactions.
Hashlocking enhances public chain transaction processing capabilities. If both parties to the transaction pre-equipped with payment channels on the blockchain, they can alternate and quickly confirm transaction payments. If there is no direct point-to-point payment channel between the two parties, as long as there is a connection in the network With the payment path composed of multiple payment channels for both parties, the Lightning Network can also realize the sustainable transfer of assets of both parties.
Q4: Beside privacy transaction system, anything else to protect users’ assets? If yes, How does that work? What are the multi-signature characteristics of the BTE public chain? What are the benefits of using multi-signature?
Luan Schenkel: Oh, sure, Hackers are always learning new technology. they always learn the most advanced technology.
So, we also set several doors to protect asset safety. The BTE public chain can support up to 32 key-controlled multi-signature accounts. Users can customize the weight of the private key, and finally, determine whether the transaction can be initiated by the weight. Multiple private keys ensure account security and prevent the loss of a private key. The account amount cannot be retrieved.
though they always make our developers frustrated, but we know they are expert on technology.
Q5: As we all know every blockchain project wants to live long and with this reason they must have an application Scenarios. what applications does BTEcoin have? What are the benefits of using BTE for payment in the traditional market? Which industries or functions do you think can be empowered by BTE?
Luan Schenkel: The BTE public chain is the underlying architecture network of the blockchain. We are compatible with and support many current internal applications of the blockchain, such as DeFi finance, BTE lending services, BTE ecological insurance, BTE empowering the medical and health industry, shopping mall consumption, and BTE product traceability, BTE new retail, tourism real estate, art, public welfare fields.
The BTE payment system mainly includes digital currency payment and cross-border payment. In the traditional market, BTE payment has a click operation, simple process; avoiding payment and redemption business risks, resource integration, pre-prevention, and no acceptance risk.
Question from Community
Twetchar✨: What are your marketing strategies, or the ways of advertisement to spread the news of this project or to make it known?
Luan Schenkel: oh, we are planning to explore our global market, South Asia includes China and Southeast Asia like Vietnam, Thailand will be our target market.
Pradana: What is so special about BTEcoin compared with other projects? Can you give some reasons to convince users to choose & invest in BTEcoin?
Luan Schenkel: this is a really great questions, As you can see, right now, some people love Public chain, some people like DeFi field, Some are ETH ecosystem fan. But what is the core competitiveness, We need an infrastural blockchain system. only we have good fundation, We can develop applications, our ecosystem can be rich.
ETH is good, especialy, it is ETH2.0, but it seems like ETH still didnot solve problems like high gas fee, congestion, and other problems. so we need another platform to meet the needs on market.
BTEcoin SUMMARY
BTEcoin is an open-source payment protocol based on Ethereum smart contract. It also allows transaction value and information to the whole internet to achieve distributed storage.
Trade BTE on UniSwap: https://app.uniswap.org/#/swap?outputCurrency=0xfd62247943f94c3910a4922af2c62c2d3fac2a8f
Trade BTE on zg.com: https://www.zg.com/exchange/737/BTE/USDT
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