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Author: Admin | 2025-04-27
Security and scientific partnership, hackathons, bounty programs, quantum research, and so forth. The Bitcoin Vault team plans to achieve every item listed on the Road Map starting from the first quarter of 2021 to the end of 2022.Further BTCV development has been divided into six workstreams: development upgrades, security upgrades, user experience upgrades, developing new products, carrying out marketing activities, and other activities.The Underlying TechBitcoin Vault uses a 144-delay block method to achieve the reverse feature of on-chain alert transactions. The Bitcoin Vault block structure tweaked the life cycle of UTXOs (Unspent Transaction Output), and the change affected the storage, transaction status, and method of verification.Contrary to the standard of UTXO which has two states, the unspent and spent, Bitcoin Vault introduces a new state called ‘confirmed’. Therefore, the ‘confirmed’ status is the time interval between the removal of UTXO and the spending of UTXO. It also records the details of the block height it was spent in. As expected, the system waits for a confirmed transaction alert before removing UTXO. This feature allows for confirmation of transfer before confirmation. It also affects the balances visible to the users.Bitcoin Vault is a Proof-of-Work coin built using the Bitcoin Royale open-source code. Bitcoin Vault implemented merged mining with Bitcoin, which was easy because they both used the SHA-235 hash function. Bitcoin Vault chain now serves as an auxiliary chain to BTC. Bitcoin’s PoW can validate Bitcoin Vault as an auxiliary proof-of-work (AuxPoW) consensus mechanism.BTCV EcosystemIn total, Bitcoin Vault offers three types of wallets. The Standard Wallet is the most basic and less secure. It is secured with only one key and allows the execution of standard transactions only. Another type of wallet is the Two-key Vault, which is secured by the Standard and Cancel transaction keys. Users can easily cancel transactions using the 2-key Vault. Finally, Bitcoin Vault offers a Three-key Vault which is the most secure wallet. All the ECDSA keys of Bitcoin Vault secure the wallet, namely: Standard Transaction Key, Cancel Transaction Key, and Fast Transaction Key. Asides from that, users can perform fast and irreversible transactions on the next available block.Further, users can trade, manage, and store BTCV on three different applications: Gold Wallet, Key Generator, and Electrum Vault. These applications allow users to create any of the three wallets offered by Bitcoin Vault. Gold Wallet is an application built only for mobile devices. The mobile application allows users to create any of the three types of wallets and carry out different transactions. Gold wallet serves as two-factor authentication (2FA) for the Electrum vault. The second application is the Key Generator. A web application allows users to set up a wallet and perform transactions. It provides the utmost safety because the keys never leave the users’ devices and can only be kept offline. Bitcoin Vault has a desktop application called Electrum Vault. The function of Electrum Vault is synonymous with the Gold Wallet. It can store, send, and receive BTCV, create wallets and perform transactions. The Gold Wallet
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