Cryptocurrencies have changed considerably from they used to be in the past. The original Bitcoin that marked the beginning of the cryptocurrencies has been less effective. That is exactly one of the reasons why we have been finding a few new cryptocurrencies that make an attempt at changing the scenario for better. One such beginning has been made by Bitcore.
What is Bitcore?
Simply put, Bitcore is a cryptocurrency that was launched in April, 2017. What makes it an important launch is the fact that it improves the vision that original Bitcoin stood for.
Bitcore still makes use of the advantages and features of Bitcoin, but introduces a few improvements where it lacks in. In fact, Bitcore wants to make Bitcoin future proof. This is the point that the recently released Bitcore Whitepaper has been focussing on. The developers, Bitsend have employed the latest technologies into the concept of cryptocurrencies and thus improved the block and block times.
What are the features that make it A Success?
To begin with, Bitcore is a hybrid fork of Bitcoin. That is exactly what makes the block size smaller, thereby offering faster transaction speeds. This will indeed go a long way in helping it become the prime option for payments quite soon. In fact, this is the vision that Bitsend has for the future.
Some of the advantages and features that Bitcore packs in are
- It makes use of ASIC resistant mining algorithm. This will minimise and remove the possibility of centralisation in mining.
- Bitcore implements SegWit and Bloom. Bloom, especially, minimises the storage requirements, and thus helps you have more users on the nodes.
- Equal distribution of coins is yet another feature that Bitcore stands for. The AirDrop process is exactly what helps you address it.
- Bitcore is a faster version of Bitcoin. In fact, it has been found to be faster than most other payment options. That is precisely what would make it the best option for your day to day payments.
- The use of Lightning Network ensures that you can perform unlimited number of transactions. Moreover, Bitcore also offers you considerably lower transaction fees.
- It is an Open Source project and that is precisely what makes it a great initiative.
The year 2018 has been the year of Bitcoin forks and we already have had a considerable number of hybrid or hard forks out. Among them, Bitcore seems to have a promising future. It has been considered to be the most clever among the Bitcoin forks. The innovative features that it has introduced make it one of the practical cryptocurrency.
The essence of the concept lies in the fact that they have been involved in cleaning up the issues that have been plaguing the Bitcoin infrastructure.
The Concluding Thoughts
Well, compared to the other cryptocurrencies mushrooming day in and day out – Bitcore indeed has gathered considerable recognition from the investors. In fact, the developers have already proved their efficiency and integrity through their earlier projects.
We would indeed foresee a great future for the Bitcore as a reliable and popular cryptocurrency.