Bitcore is a new cryptocurrency that’s known for using the method of a hybrid fork to distribute BTX to Bitcoin holders. It was created by the talented developers of Bitsend in April 2017. The Bitcore created a new coin with an empty blockchain, ensured that its scalability is better and the size is smaller. This blockchain copied over 5 million transactions from the Bitcoin blockchain to the Bitcore blockchain, giving 0.5 BTX: 1. BTX. The low size of blockchain is because of Bitcore not being a fork of Bitcoin like Bitcoin Gold or Bitcoin Cash.
It is completely a new cryptocurrency with a new blockchain and is the first cryptocurrency to use a hybrid fork. It has tried to improve on Bitcoin and solve the problems related to it. Bitcore uses GPU mining algorithm Timetravel 10 which is resistant to ASICs. This means that it is not possible to have centralization of mining power because the playfield is leveled. Everyone is provided with an equal opportunity. Bitcore can handle 17.6 billion transactions a year because it has 10 MB Segwit enabled blocks. We can also say that it can handle 48 million transactions per day.
Block times are controlled by the use of Bitcore 64_15. It is a difficult algorithm that ensures that the change within a 64 block period does not exceed 15%. The small size of the blockchain is another hallmark of Bitcore. It is one of the smallest and lightest blockchains with less than 300 MB in size. Because of the small size, Bitcore can run directly on all mobile devices.
It is a full bitcoin node where all the apps run directly on the peer-to-peer network. Additional indexes have been added into it for transaction history, unspent outputs, and querying address balances for wallet application development.
Sponsored By: cryptoprofile.com
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…
Did you know that 85% of DeFi value is concentrated in six blockchains? DeFi is…
CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…
Join us at BFC 2024 to explore the future of Web3. Use a special discount…
Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…