BITCORE aims to become the number one coin in providing a direct, fast and secure payment solution. The project was established on the 24th of April 2017. Bitcore wants to offer a solution to the high fees which are prevalent with Bitcoin. Bitcore claims to have one of the lowest transaction fees on the market while providing an on-chain scaling solution.
The first snapshot was taken on the 30th of October 2017, the second snapshot on the 2nd of November 2017. BTX / Bitcore can be claimed by signing up with them on their official website.
Bitcore claims to have a maximum of 21 million coins, just as Bitcoin. Bitcore also claims to have a blocksize of 10 MB and 20 MB with SegWit. The Bitcore blockchain has a 2.5 blocktime and has its own Mining algorithm called Timetravel, based on Proof-of-Work, which is supposed to be ASIC resistant.
SegWit has been instituted on the coin, making it compatible with the Lightning Network. Already at this moment, Bitcore claims to able to do 48.32 million transactions per day. The Bitcore blockchain has a difficulty adjustment algorithm that is designed never to make adjustments greater than 15 percent of its previous difficulty level.
Compared to Bitcoin Cash, Bitcore didn’t opt for a hardfork of Bitcoin, but chose to implement a ‘hybrid fork’, which is supposed to be a hybrid between a hardfork and a softfork.
Bitcore announced their airdrop in a Steemit article and a lot of the comments were claiming that Bitcore was looking like a scam. There are certainly reasons to be weary of Bitcore being a scam, as a Bitcoin holder needs to share their private key to claim BTX.
Bitcore’s aim is to solve the scaling problems Bitcoin has. Bitcore is comparable to Bitcoin Cash, without going for a contentious fork and without using the Bitcoin name. Currently being on the number 105 spot on Coinmarketcap, Bitcore is not very likely to be a real competitor to Bitcoin, Bitcoin Cash, Litecoin or other more well-known payment coins.
