Everything You Need to Know About BitCore, A UTXO Fork of Bitcoin

BitCore cryptocurrency is the blending of Bitcoin’s source code and technology to ensure small blockchain size and better scalability. The cryptocurrency was introduced to overcome issues with Bitcoin and promises BTX mining with a Proof-of-Work (PoW) mechanism or Masternodes.       

Story Behind Bitcoin to BitCore 

Bitcoin, among the earliest and most robust cryptocurrencies, faces significant challenges such as scalability and transaction-related issues. To overcome these issues, BitCore was introduced to the crypto world as a combination of Bitcoin source and technology. 

The concept was introduced to the crypto universe in April 2017 as a UTXO fork of Bitcoin. With time, BitCore developed a strong position in the crypto market and emerged as the best of PoW, Masternodes, and Decentralized Finance (DeFi). 

Apart from a hybrid fork, the cryptocurrency also resolved Bitcoin’s issues related to scalability and transactions. BitCore is enough potent to handle 17.6 Billion transactions per year and around 48 Million transactions per day. 

Focusing on the records, BitCore at present, creating approximately 5 Million transactions in a few days to fill all the public keys from the last snapshot with 50% BTX. 

BitCore Ecosystem 

The crypto ecosystem is easily accessible to anyone similarly, the BitCore ecosystem made it easy for the crypto enthusiasts to deal with digital assets.

BitCore ecosystem is built over four key pillars including wallets, exchanges, mining, and explorers. 

• BitCore supports a wide range of wallets including BitCore BTX wallets and sBitCore sBTX BEP20 like MetaMask, Math Wallet, Guarda Wallet, Trust Wallet, and SafePal. 
• The cryptocurrency is available on many cryptocurrency exchanges like PancakeSwap V3, HotBit, InstaSwap, and Graviex.   
• The list of pools supporting BitCore cryptocurrency is gradually growing, constructing a strong position for BTX in the crypto universe.   
• BitCore Explorer Insight, CryptoID, BitCore Explorer by ZelCore, and Tokenview are a few of the explorers supported by BitCore. 

BTX Specifications and Comparison 

BitCore entered the crypto world with innovation and enhanced efficiency and usability. Some of the key technical specifications make BTX a standout performer in the crypto universe.  

The coin holds a maximum supply of 21 Million with a block size of 10 MB with 2.5 minutes of average block time. At present, the blockchain size of BitCore is 1010 MB.

Working with the MEGA-BTX GPU mining algorithm and Core Shield difficult algorithm, the coin is all set to offer touch competition to the existing players including Bitcoin, Bitcoin Cash, and Bitcoin Gold.   

How to Buy BTX? 

To buy a BTX token the user needs a crypto wallet that suits the region, payment method, and policy. Google Chrome and the wallet extension on the computer, or the wallet app on a smartphone can help individuals buy BTX tokens.

The user needs to set up and protect the wallet account with the wallet extension or app and keep the wallet address and seed phrase safe.

To start, log in to the chosen exchange account and navigate to the crypto trading page. Purchase the desired base currency.

After the purchase, transfer the base currency to the wallet. Visit the wallet section on the exchange, select the bought coin, and choose the withdrawal option. Provide necessary details like the wallet address, and amount, and select the correct network. Initiate the withdrawal and patiently wait for the base currency to reflect in the wallet.

Now, locate a decentralized exchange (DEX) compatible with the wallet and the specific coin. Numerous DEX options are available for buyers to explore. A few of the exchanges are mentioned above. 

Linking the wallet to the DEX with the wallet address, and choosing BitCore (BTX) as the coin and base currency as the payment will help in making a final purchase.

Conclusion 

BitCore is a cryptocurrency that aims to improve Bitcoin by using a hybrid fork method, a smaller blockchain size, and faster transaction speed. BitCore also offers a decentralized ad system that allows users to create and consume ads on quizzes. 

BitCore has its utility token, BTX, which has a maximum supply of 21 Million and can be mined with a PoW algorithm or Masternodes. BitCore is compatible with various wallets, exchanges, mining pools, and explorers. To buy BTX, users need a crypto wallet, a base currency, and a DEX that supports BitCore. BitCore is a platform that combines the best of PoW, Masternodes, and DeFi.

FAQs

Is BitCore a Bitcoin fork? 

No, BitCore is not a fork in the conventional way, it is a hybrid fork with an entirely new blockchain. 

What is a hybrid fork?

BitCore is the first cryptocurrency to use the hybrid fork method to distribute tokens. BitCore created a new cryptocurrency with an empty blockchain which is a hybrid fork mechanism. 

How can I get BTX tokens? 

Claiming, airdrops, mining, and cryptocurrency exchanges are some of the best options to get BTX tokens. Individuals can choose options based on their preferences. 

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.