THE DEVELOPERS OF BITCOIN PRIVATE COMMENTED ON THE COINMETRICS REPORT

After the release of a report from Coinmetrics, the Bitcoin Private team, focused on the increased privacy of the bitcoin fork, conducted its own investigation into the incident with a hidden increase in the issue during the PreMain. They confirmed that a developer really took advantage of the bug in the BTCP Protocol and created about 2.03 million coins on top of a fixed issue of 21 million.

Note that the Bitcoin Private network uses evidence of zero disclosure [zk-SNARK] and there are so-called protected addresses. According to estimates of Coinmetrics, these addresses are about 1.7-1.8 million illegitimate coins and only 20 thousand have the right to exist.

The developers of Bitcoin Private offered to destroy all the coins on the protected addresses by means of a hard fork, sacrificing 20 thousand to solve the problem. Note that the team offered the community a more radical solution-the destruction of all BTCP coins that have never moved — more than 12 million.

So, the first scenario developers will start to implement immediately. They also promised to monitor the

Earlier, Coinmetrics published a report called” do not trust, check: an example of Bitcoin Private”, which says that it was the developers who secretly increased the maximum offer of this coin, violating the provisions of whitepaper.

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