Bitcore (BTX) is a new cryptocurrency, created in April 2017 by the talented developers of Bitsend (BSD). It is a virtual fork.
It combines the latest Bitcoin crypto technology, including SegWit, Core 0.14 and Bloom, together with a 10 MB block size, fast 2.5 minutes block times, a new lowsized blockchain (~400 MB) and completely new tech like the smooth Diff64_15 difficulty algorithm and the GPU-mining algorithm Timetravel10. Total coin supply, the halving schedule and the actual block reward are similar to Bitcoin. The low blockchain size is a result of Bitcore not beeing a fork of Bitcoin like Bitcoin Cash or Bitcoin Gold. Instead it uses a new blockchain which makes use of the genuine virtual fork method.
What is a virtual fork?
Bitcore is the first known cryptocurrency to use the virtual fork method to distribute BTX to Bitcoin holders. Instead of forking Bitcoin at a specific block and copying the blockchain, Bitcore created a new coin with an empty blockchain. On the 2nd of November 2017 a snapshot of the Bitcoin blockchain was created and in the following days approx. 5 000 000 transactions were created to fill all addresses (public keys) on the Bitcore blockchain, that had funds of 0.01 BTC or above on the Bitcoin chain. The funding ratio is 0.5 BTX : 1.0 BTC. You can read more about this world record in transactions here: Making Blockchain History.
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