Review on Bitcore by gregori cordova

Name: Bitcore
Item: Bitcore
Rating: 4

September 16, 2020

a project with many similarities to bitcoin, and at the same time many differences

In the crypto market, there are many projects that have similarities with the mother cryptocurrency as many know it, and use its potential to create platforms based on its blockchain. In 2017 the Bitcore project was created, a hybrid fork of bitcoin that, like that cryptocurrency, is destined to offer great advances in decentralization. It is an open source cryptocurrency and uses a proof-of-work consensus mechanism with a novel implementation called Core Shield 64_15 that allows to adjust the difficulty levels presented by miners to find the next block (difficulty retargeting). This results in that the level of difficulty for miners is not as high as it is usually in bitcoin (2016 blocks with a block time of 10 minutes) but decreases to only 64 blocks with bitcore, having a block time of only 2, 5 minutes, which will make transactions with this cryptocurrency much faster, with one of the highest levels of scaling in the market. Furthermore, by adding the SegWit algorithm, bitcore is capable of handling more than 550 transactions per second, which solves the common problem in terms of transaction performance that bitcoin presents.
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This project has many similarities with bitcoin, but at the same time they have added certain advances especially in the efficiency and speed of their transactions, which are undoubtedly fulfilling the promise of their developers, to create a fast peer to peer payment mechanism and fully decentralized
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Pros

It was not the product of any ico as they were not interested in profiting individually or speculating with this project
Bitcore rates are one of its great advantages, since they only cost $ 0.003, one of the most tentative alternatives to be used as a payment method
With bitcore, the block time is reduced to 2.5 minutes instead of the 10 minutes it takes for bitcoin, which does not require as many confirmations and gives this project higher levels of scalability
Its distribution was fair and equitable, in various airdrops
Since it uses open source software, it allows the community to access it at any time and modify its code in case of failure.
The bitcore retargeting algorithm is much more efficient than that of bitcoin, which protects the network from double-spend attacks that usually happen when the hashing difficulty is very low.

Cons