Cryptocurrency was what made an entry into the financial sector to address the concerns raised by the centralized infrastructure. It helped in achieving anonymous transactions and thus aided in reducing the charges levied by the third party service providers. Subsequent launches of cryptocurrencies were aimed at resolving a host of issues and in fact, worked through every aspect of human community at large. Bitcore is one such capable crypto coin that plans to change the scenario where crypto assets are going through a panicky situation.
Bitcore – What Exactly is It?
Bitcore is essentially a fork for Bitcoin and aims at solving a few issues plaguing the Bitcoin. It copies almost all the features of Bitcoin but runs on its own platform. In fact, it does come with a host of features that would make it a better option than Bitcoin.
It was rather difficult and challenging plans ahead through its roadmap. It has plans to surpass Bitcoin and looking to position itself as the number one payment coin in the future ahead. The focus of now has been to make the currency available to as many people as possible. There are regular airdrops every week.
The Future Ahead
How will Bitcore function is indeed an interesting option. It will be able to succeed if it comes up with the really unique features. It has a faster mining mechanism in place as of now and uses a completely different mining algorithm.
The hybrid fork nature of Bitcore makes it one of the fastest options. The association with SegWit and Bloom can make it one of the fastest cryptocurrencies with just 2.5 minute block time. The 10 MB block size will allow it to mine a whopping 17.6 billion transactions per year. It can be estimated that it can theoretically perform the transactions that Bitcoin can perform in a year, in just three days.
The speed is what can make Bitcore a capable currency for the day to day transactions. Moreover, running the Bitcore would take small storage space and as such, it can even run on smartphones. They will soon be launching BTXM machines for the two-way transactions and a unique FIAT gateway. The BTXM will work like an ATM transaction that we are used to.
Is it worth the Efforts?
Well, should be ideally. They already have a well-designed roadmap quite well planned. The focus right now has been to integrate with multiple wallet platforms. It will soon integrate itself into the payment processors for an efficient and hassle free usage for the real world purposes. It has been working on a few cutting edge technologies to stay ahead in the march.
The unique features would be what would help any new cryptocurrency to stay afloat. We would expect Bitcore to come up with such specialised applications soon. In fact, they have already been through the road with initiatives like lightening network, atomic swaps and similar options. The exact outcome will only be visible once the entire platform is ready.