There's been a ton of Bitcoin forks this year. Some were just an attempt at a money grab, some have presented a new technology to the blockchain, but all of them have a flaw, that makes them difficult to use in day-to-day purchases. And that's transaction confirmation time. Bitcoin blockchain prevents errors by queuing transactions until they are mined to the block, or better three. And this can take from 10 to 30 minutes on a good day, because blockchain adjusts itself for ~10 minute interval.
Now there is a competitor, who wants to take the mantle of “instant Bitcoin”. Meet Bitcoin Flash. The principles under the hood are similar to Dash's InstantX – locking transactions in place, so there wouldn't be any risk of double spending, and thus providing near-instant confirmation to the recipient. This is made possible by running multiple masternodes, which lock into consensus, and earn money in return for the service.
The technology has been tested out successfully on the separate chain of Dash, which runs, in a nutshell, a modified bitcoin code. And now its time to merge the good bits back to the progenitor.
So, the Bitcoin Flash (BTF) is born. The fork will happen on January 5, 2018 on block height of 502502. Unlike some other forks which didn't have a functional code up until the time of implementation, BTF already has a core code, with only small changes being introduced, but all the main features working.
BTF masternode hosting will be available for the users with more than 1000 BTF on their wallet. And while daunting, the needed number can be either earned or bought during the starting stage. Because it's doubtful that BTF will be traded as high just after launch. And, while not very helpful in terms of masternode hosting, all the assets from the main network will migrate, of course,, as usual with forking.
So, for a quick summary. BTF to implement near-instant transactions from Dash network, masternodes start with 1000 BTF, the show starts on January 5. Let's see, how it goes, shall we?