What Is Bitcore?
When people conduct an online search for Bitcore, they will come across two entirely different products. The one we are looking at here is the Bitcore cryptocurrency, which is known as BTX across trading platforms. It is a new cryptocurrency which offers regular airdrops, even though it aims to become the world’s number-one payment coin in the future. Surpassing Bitcoin or any of the established currencies will be quite challenging, though.
WHAT IS BITCORE EXACTLY?
Even though Bitcore positions itself as a state-of-the-art cryptocurrency, very few people are actively concerned with this project, by the look of things. It is still a relatively new and unknown currency, even though there are regular airdrops taking place. New coins are handed out free of charge every single week, which should get BTX into the hands of as many people as possible in the long run.
THE TECHNICAL SIDE OF BITCORE
For a currency launched in April of 2017, there has not been too much buzz about Bitcore. This is mainly because the technical aspects of this currency are not exactly unique, even though there are some interesting nuggets. With 21 million coins and a 10 MB block size, Bitcore is certainly worth keeping an eye on. Its total block size is also less than 300 MB, which is rather peculiar. Plus, it supports Segregated Witness, which is a positive thing.
What will make Bitcore stand or fall is whether or not it offers unique features. The way things look right now, there is nothing that really stands out about Bitcore, as there are no smart contracts, innovative features, or blockchain-based projects worth keeping an eye on. It does use a completely different mining algorithm and support up to 48 million transactions per day, but that won’t matter much if only a few people use it. It also has no replay protection to speak of, as the developers claim it is not needed in the slightest.
One feature which may be of interest to Bitcore enthusiasts is that users have the option to control the address from which coins are sent. Moreover, they can also manually determine which address should receive the change amount of every transaction. It is a nice addition to the ecosystem as a whole, even though it’s not necessarily something that will catapult Bitcore to the number-one spot in cryptocurrency.
ARE THERE USE CASES FOR BTX?
For now, there are no active use cases for Bitcore as a currency. It is an investment vehicle for those who firmly believe this project has a future, but there are no merchants officially accepting BTX as payment. It is unclear if this situation will change in the future, but for now, there is no reason to purchase BTX tokens if you want to pay for goods or services.
WHAT COMES NEXT?
A project such as Bitcore can only thrive if its developers keep their eye on the prize. According to the official roadmap, the first hardware wallet supporting BTX is just around the corner. The native platform will support direct purchases and sales of BTX in the future, and the merchant network will be expanded throughout the rest of the year. Bitcore’s developers have some rather bold plans, such as raffling off a car and running TV commercials. Whether any of this will actually happen is a different matter altogether.