There is yet another fork coming up for bitcoin in the next few weeks. This fork differs from its counterparts though, as it focuses on enhancing the privacy aspect of bitcoin. The fork dubbed Bitcoin Private (BTCP) is adding zk-Snarks which is used in a number of coins including zCash. The Snapshot date is expected to take place on February 28th, 2018.
The privacy erosion with bitcoin has been an issue that many have been monitoring. The currency used to be extremely difficult to track but now almost anyone including the IRS and law enforcement can track purchases. The transparency that has come along with bitcoin has turned many away and they have looked for alternatives such as Monero (XMR).
The new fork is expected to create 20 million new coins which will trade at a 1:1 ration with bitcoin. Another twist on this fork is the fact that zClassic will be simultaneously forking and BTCP will be available to holders of both coins.
zClassic has skyrocketed since this news was released and jumped from $4 to its current level of $96. It is expected that many will buy zClassic to have a cheaper entry into bitcoin private and zClassic will be dumped after.
This fork is looking very attractive to investors compared to previous forks. There has been extensive backtesting performed and developers have been adjusting the code to produce the proper outcome. The group led by Rhett Creighton, is working increasing the number of exchanges that will host the coin as well.
At this time Bittrex and Cryptopia both support zclassic and are expected to carry BTCP. They have also applied to be listed on Binance as well. The number of users who utilize this coin will be telltale sign of the importance of privacy for crypto users going forward.