HOUSTON--(BUSINESS WIRE)--Bitcoin Oil (“the Company“) announced today its plan to launch the Bitcoin Oil fork, a new major fork upgrade to the Bitcoin blockchain network. The company intends to use "OIL" as an abbreviation for Bitcoin Oil, which stands for “Optimally Improved Ledger”, implementing several crucial improvements to Bitcoin’s existing distributed ledger platform.
Bitcoin Oil plans to utilize Bitcoin’s existing distributed ledger platform as a foundation to create its advanced next-generation cryptocurrency. The Company believes that by leveraging Bitcoin, being the highest valued cryptocurrency, and Bitcoin’s existing distributed ledger platform, being one of the best and most popular public blockchain platforms in the world, the Company will be able to accelerate the development and adoption of Bitcoin Oil and Bitcoin Oil's platform.
The centerpiece of Bitcoin Oil and its “Optimally Improved Ledger” will be the so-called “SSPSS” strategy focusing on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability, or “SSPSS”.
The highly innovative SSPSS strategy includes but is not limited to key new Bitcoin blockchain features such as:
(i.) minimizing Bitcoin’s volatility (i.e. by connecting it with stable off-chain values),
(ii.) drastically reducing Bitcoin’s insane energy consumption (i.e. by altering the consensus protocol to PoS),
(iii.) implementing true privacy features (i.e. by enabling confidential transactions),
(iv.) empowering Bitcoin based ICOs and STOs (e.g. by employing full smart contract functionalities), and last but not least,
(v.) developing cutting-edge scalability solutions (i.e. by complete integration of layer 2 protocols and offline transactions).
To learn more about Bitcoin Oil and the proposed fork, please review our next press releases as well as our forthcoming white paper which is expected to be released within the first quarter of 2019.
About Bitcoin Oil
Bitcoin Oil is a developer of innovative blockchain technology aimed at the improvement of Bitcoin. Bitcoin Oil is a developer of ledger technology aimed at the Bitcoin blockchain and the creator of Bitcoin Oil, a new cryptocurrency based on the Bitcoin network with an optimally improved ledger through the use of its “SSPSS” improvement strategy.
To learn more about Bitcoin Oil and its forthcoming Bitcoin fork, please visit our website at www.bitcoinoil.com or review our next press releases as well as our forthcoming white paper, or if you are interested in investing with Bitcoin Oil, please contact us at investors@bitcoinoil.com or call us at +1-8777-BITCOINOIL.
Disclaimer
This press release shall not constitute an offer to sell or the solicitation of an offer to purchase any coin or right described herein, nor shall there be any sale of these coins or rights in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains information about pending transactions, and there can be no assurance that any of these transactions will be completed in accordance with the terms described in this press release or at all.
