Bitcoin was the first cryptocurrency that redefined the decentralised marketplaces. However, with an increase in the usage and a few inherent issues that the Bitcoin suffers, you may have encountered a few issues where your transactions are stuck. That is where newer cryptocurrencies that have faster transaction confirmations can be game changers in the true sense. Bitcore BTX currency is one such capable service.
Bitcore BTX – An Overview
There have been a few forks from Bitcoin that have a promising future for the cryptocurrency investors. Bitcore, Bitcoin Gold and BitccoinCash are a few examples. Of these, Bitcore has been offering around 48 million transactions per day and a block time of just around 2.5 minutes and thus the arguably the fastest cryptocurrency among the lot.
Initially launched in April, 2017 – Bitcore has surged ahead becoming the lightning fast solution when it comes to confirming transactions. It has wisely stayed away from frequently trodden route of an ICO so that it will be able to distribute the coins in a fair and wider manner.
The Plus Side of the Bitcore Revolution
To begin with, Bitcore offers an excellent block time of just 2.5 minutes and the block size of 10 MB. Mined through the ASIC resistant Timetravel10 algorithm, Bitcore can even offer a block size of 20 MB with SegWit enabled. That would make it capable of conducting over 17.6 billion transaction a year! By comparison, it can be stated that it can handle the transactions in just three days which Bitcoin would have taken a full year.
One of the advantages that it offers you is the lower transaction fees. The fees charged by Bitcore are considerably lower than the rest of the platforms. You will be charged a transaction fee of just $ 0.0001 per transaction. In fact, this can be one of the features that can help it become the most suitable for everyday transactions. In fact, Bitcore white-paper clearly states that it can also be suitable for micropayments as well.
The instant payment and confirmations are ensured by means of adoption of Lightning Network. Smart contract technology along with Lightning network allows Bitcore opt for instant payments across the network. The Lightning Network also offers you a few additional advantages in the form of
- An improved scalability
- Attractively lower charges
- Cross chain atomic swaps.
Bitcore has implemented Lightning Network fully and thus can be the best solution available for day to day transactions and micropayment options.
Before We Conclude…
A largely community driven project, Bitcore is designed to be like that. It does not use any kind of central authority governing the use of the coin. The development is completely determined by the needs of the members of the community. This is exactly wat leads to the innovative implementation of the newer improvements.
From that perspective, we would indeed treat Bitcore as one of the prominent cryptocurrencies to look forward to. They indeed have a well defined roadmap planned and you can definitely look ahead to a few better initiatives being introduced.