What is Bitcore (BTX)?

Quick Facts

  • Launched: April 24, 2017
  • Type: UTXO fork of Bitcoin
  • Consensus: Proof-of-Work (MEGA-BTX) + Masternodes
  • Block time: ~2.5 minutes (faster than Bitcoin)
  • Block size: 10 MB SegWit-enabled
  • Founders: Chris and Jon
  • Wrapped token: sBTX available on Binance Smart Chain

Introduction

Bitcore (BTX) is an open-source cryptocurrency that emerged as a UTXO fork of Bitcoin, designed to address scalability and efficiency limitations of the original Bitcoin network. While hard forks like Bitcoin Cash and Bitcoin Gold are widely recognized, BitCore represents a lesser-known but technically distinct category: the hybrid fork.

The project's core goal is to deliver a high-performance, low-fee payment coin with broad merchant and online-service acceptance, staying true to Bitcoin's decentralized principles while pushing the boundaries of transaction throughput.

History & Background

Bitcore was created by two developers known as Chris and Jon, and its genesis block was mined on April 24, 2017. At launch, the team took a snapshot of the Bitcoin blockchain and allowed Bitcoin holders owning 0.01 BTC or more to claim BTX tokens at a 1:1 ratio — a claim window that remained open until late 2017.

This snapshot-based distribution gave BitCore an immediate user base tied directly to the existing Bitcoin community, helping establish early adoption and liquidity.

How Bitcore Works

BitCore runs on its own independent blockchain built from Bitcoin's source code, but with several key modifications.

The network uses the MEGA-BTX consensus algorithm, which is specifically designed to be ASIC-resistant. This levels the mining playing field, preventing large mining operations with specialized hardware from dominating the network and encouraging broader community participation.

BitCore also implements 10 MB SegWit-enabled blocks with a 2.5-minute block time, allowing the network to theoretically process around 48 million transactions per day. Bloom filter technology reduces full-node storage requirements, making it easier for new participants to sync lightweight wallets.

Tokenomics

BTX is the native currency of the BitCore network, used to pay transaction fees and reward network participants. The token follows a Bitcoin-like emission schedule, with block rewards distributed to both Proof-of-Work miners and Masternode operators.

This dual-reward model incentivizes two distinct types of contributors: GPU miners who secure the network through computational work, and Masternode holders who provide infrastructure and stability in exchange for ongoing rewards.

Circulating supply ? 16.53 million BTX
Total supply ? 17.29 million BTX
Max supply ? -- BTX
Fixed supply (updated manually)

Ecosystem & Use Cases

BTX is primarily used as a peer-to-peer payment currency. Wallets are available across desktop (QT and Electrum) and mobile (Android), keeping access straightforward.

A wrapped version of BTX, known as sBTX, operates on the Binance Smart Chain as a BEP-20 token, extending BitCore's reach into the DeFi ecosystem and enabling compatibility with BSC-based wallets and protocols.

Team, Governance & Community

BitCore was founded by core developer Chris alongside co-founder Jon. The project is open-source and community-driven, with development updates and governance discussions taking place across Telegram (multilingual channels), Twitter, Discord, and BitcoinTalk.

The community spans multiple languages and regions, reflecting the project's grassroots origins.

Advantages

  • ASIC-resistant mining keeps participation open to GPU miners and reduces centralization risk.
  • High transaction capacity via 10 MB SegWit blocks supports fast, affordable payments.
  • Dual consensus model (PoW + Masternodes) offers multiple ways to contribute and earn rewards.
  • Wrapped token (sBTX) bridges BitCore into the BSC DeFi ecosystem.
  • Small blockchain size lowers the barrier to running a full node.

Risks & Challenges

  • Low visibility compared to major Bitcoin forks limits mainstream adoption.
  • Small development team may slow protocol upgrades or security patches.
  • Niche market position as a payment coin in a crowded landscape makes differentiation difficult.
  • Liquidity constraints on major exchanges can affect price stability and accessibility.

Long-Term Vision

BitCore's long-term ambition is to serve as a practical, decentralized payment coin that solves real throughput limitations without sacrificing Bitcoin's core principles. By combining ASIC-resistant mining, fast block times, and an expanding DeFi presence through sBTX, the project aims to remain relevant as both a transactional currency and a community-governed open-source protocol.

Frequently Asked Questions

Bitcore (BTX) is a cryptocurrency that originated as a UTXO fork of Bitcoin, launched in April 2017. It was built to improve upon Bitcoin's scalability and transaction speed while maintaining decentralized, open-source principles.

Unlike Bitcoin Cash or Bitcoin Gold, which are hard forks sharing Bitcoin's transaction history, Bitcore is a hybrid UTXO fork that started with a new blockchain. It also introduces unique features like the MEGA-BTX ASIC-resistant mining algorithm and 10 MB SegWit blocks.

MEGA-BTX is BitCore's custom consensus algorithm designed to be ASIC-resistant, meaning specialized mining hardware cannot dominate the network. This keeps mining accessible to everyday GPU miners and promotes decentralization.

Masternodes are dedicated network nodes that help support BitCore's infrastructure and earn block rewards. They complement Proof-of-Work miners by providing an alternative way to participate in and earn from the network.

sBTX is a wrapped version of BitCore (BTX) that runs on the Binance Smart Chain as a BEP-20 token. It allows BTX holders to participate in BSC-based DeFi applications and use compatible wallets like MetaMask and Trust Wallet.

At launch in April 2017, BitCore took a snapshot of the Bitcoin blockchain and allowed Bitcoin holders with at least 0.01 BTC to claim BTX at a 1:1 ratio. This claiming event ran until late 2017.

Bitcore features a 2.5-minute block time and 10 MB SegWit-enabled blocks, giving it a theoretical capacity of around 48 million transactions per day — significantly more than Bitcoin's base layer.

Bitcore was founded by two developers known as Chris and Jon, who launched the project in April 2017 with the goal of creating a high-tech, low-fee decentralized payment coin.