BTCB is pegged to the USD for stability while still retaining all properties of a cryptocurrency. The Tether BEP2 token works in exactly the same way but it is backed by the Euro instead and serves as a platform for European users (other currencies can be added on request). Tether has since been proven to be insolvent and untrustworthy so BTCB is a much better alternative.
The vision of the Bitcoin Bech32 project is to create a new standard for cryptocurrencies that would be easier to use and handle, more secure and forward looking. It has been designed from scratch with no legacy code or dependencies making it fully compatible with hardware wallets like Trezor and Ledger.
Bitcoin Bech32 serializes and deserializes data to and from the byte stream rather than using text format. The new address format is also about 28% shorter than the old one.
BEPS2 is a project of the German company HolyTransaction, an independent blockchain open-source service provider that empowers businesses by offering solutions for blockchain based transactions. We are the second company after HolyTransaction to create BTCB with our partner Bitcoin ABC and we will use it for online payments on our current services like the web wallet, mobile app and ecommerce plugins/modules.
HolyTransaction is also one of the first companies in the world that has successfully implemented Lightning Network payment channels and one of the first to implement SegWit as well.
To find out more about Bitcoin Bech32 project please follow us on Twitter, Reddit or join our Telegram chat.
One of our partners is Coinomi, a California-based company that provides wallet solutions for cryptocurrencies and blockchain tokens with over 1 million active users. HolyTransaction and Coinomi are working together to support Lightning Network payments that will be easy and secure for users.
Coinomi has already implemented the new address format and we will use it as the default payment option for all of our services very soon. This way we can provide simpler integration for existing users much sooner than other companies.
If you have any questions about Lightning network or anything else, you can always find a representative from Coinomi around.
The BTCB is available on HolyTransaction and you can read more about it in our FAQ section.
You will need to have Chrome installed with MetaMask extension for the webwallet to work.
BTCB is an independent currency so it is not a part of HolyTransaction. Please bear with us for any problems you might encounter when using the wallet. We will solve them as soon as we can because our top priority is providing the best user experience possible.
We will be happy to receive your feedback! Thank you for choosing us and feel free to send us some love letters on social media.
The story is also published on Coinidol.com with some extra paragraphs for more context. Please check out the article here.
