Ana Sullivan

Bitcore (BTX) Coin – Will It Crash After Its Current Uptrend?

by Ana Sullivan May 22, 2018

Bitcore is a cryptocurrency that was designed with the intent of mastering the original formula and precedent established by Bitcoin. Rather than relying on gimmicks, untested technology, or unnecessary innovations, many of the core facets of the original Bitcoin are present within Bitcore. The Bitcore (BTX) coin has reached a market capitalization of 70.56 Million dollars in the last 24-Hour period. The coin traded 19.40%higher against the U.S. dollar during the last 24 hours ending at 10:00 AM EDTon May 22nd. Just a few days ago, the value was showing a decrease compared to the most current price.

 

 

 

The Bitcore team has published a White Paper on an external website which is confusing, but at least it is not lacking.  The White Paper shows in greater detail what the Bitcore project is all about.

 

Bitcore (BTX) – Recent Performance

 

The Bitcore has reached a market capitalization of 70.56 Million dollars in the last 24-hour period. Although, its price seems to be rising today, a few days ago it was lower and eventually will likely go down again. Bitcore (BTX) saw a rise of 19.40% at 10:00 AM EDT, on May, 22nd against the US dollar. You can see the price fluctuations in the chart down here:

 

 

The graphical chart was taken from the CoinMarketCap website.

 

Bitcore (BTX) – Historical Background

 

Bitcore is a cryptocurrency that was designed with the intent of mastering the original formula and precedent established by Bitcoin. Rather than relying on gimmicks, untested technology, or unnecessary innovations, many of the core facets of the original Bitcoin are present within Bitcore.

 

The coin, which was based on Satoshi Nakamoto’s originally incepted Bitcoin, uses Proof of Work, includes all of the BIPs that were initiated onto the Bitcoin protocol at the time of Bitcore’s formulation (April 2017), and still adheres to the same features and functionality of Bitcoin. Despite that, the Consensus rules on the Bitcore Project are different.

 

The first major change implemented on the Bitcore protocol was an increase in the block size. The second major change is the block time. Rather than waiting 10 minutes per block as one would have to do on the original Bitcoin blockchain, Bitcore’s blocks are targeted to be created every 2.5 minutes.

 

That makes the Bitcore protocol different by a small degree, but still necessarily better.

 

However, Bitcore has yet to prove that it is not a volatile cryptocurrency and for now the recent price fluctuations paint a different picture, but that is to be expected of a cryptocurrency that is only a month old.

Comments 0

Type the characters that you see in the box (5 characters).