What is BitCore?

BitCore is a cryptocurrency that was launched on April 24, 2017, as a UTXO fork of Bitcoin. It utilizes Bitcoin's source code to establish a new blockchain designed with a smaller size and improved scalability. The project created a snapshot of Bitcoin transactions and allocated 5 million transactions to public addresses of users holding a minimum of 0.01 BTC. A funding ratio of 0.5 BTX for every 1.0 BTC was established, and BTC holders could convert their coins to BTX at a 1:1 ratio until October 30.

The consensus algorithm employed by BitCore is MEGA-BTX, which is ASIC-resistant, ensuring decentralized mining opportunities. It features Segwit-enabled blocks with a size of 10 MB, purportedly allowing the network to accommodate a high volume of transactions, estimated at 17.6 billion annually. BitCore supports mining through both Proof of Work and Masternodes, enabling further participation from BTX holders.