Review on Bitcore by JB CRYPTO
Bitcore and its relationship with bitcoin
Bitcore is a cryptocurrency that was launched in 2017 to give bitcoin some competition, to carry out this project, they needed millions of instant bitcoin transactions, to fill those accounts belonging to people with 0.01 BTC or more. The financing ratio is 0.5 BTX 1.0 BTC, however if he had bitcoins at the time, the person could request his BTX share in an approximate 1: 1 conversion until October 10.
The only characteristic of this virtual currency and the most relevant is that every Monday the users of the platform receive free coins.
There is a 3% payment to all addresses with more than 10 BTX; If we look at the technological part of Bitcore, we can see that they are trying to improve Bitcoin and solve their problems.
For example: Bitcore has 10 MB Segwuit this means that the network has the capacity to have more than 17 billion transactions a year or 50 million a day, bitcore fortunately is one of the few cryptocurrencies that are created through a system called hybrid fork, which is akin to bitcoin blockchain technology.
What relationship does Bitcore have with Bitcoin?
The most notable differences between these 2 platforms is that the Segwit protocol created in bitcore allows to accept much faster transactions.
The bitcore blockchain can support twice the transactions that bitcoin validates throughout the year.
To conclude, bitcore is a platform with a lot of promise, but it has not come to show anything great for now, users who turn to this platform have faith that it will become a much more important cryptocurrency than it is. But in the same way it continues to have low users and it would be useless to handle 46 million transactions a day, if there are many people who use it.
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Pros
- Having a small chain of blocks the machine is light, thus being ASIC resistant
- By holding events every Monday, users of the platform are encouraged to continue releasing new updates on the platform
Cons
- Not accepted by merchants
- Not many people use it, even after (Airdrops) events every Monday
