BitCore

Halal Rating :
Comfortable
Last Price $0.12 Last updated:
Rank 1758
1D Change -2.68 %
Market Cap $2.32m
Circulating supply 19,708,553
Maximum supply 21,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Mineable
  • Masternodes

Overview

BitCore (BTX) is a cryptocurrency that emerged in 2017 as a Bitcoin fork, designed to offer faster transaction speeds and improved scalability compared to Bitcoin. The project aims to serve as a medium of exchange and store of value while incorporating features like SegWit and larger block sizes.

Purpose and Utility

The intended purpose of BitCore is to function as a fast, secure, and low-cost payment system. The actual current usage appears to align with this purpose, though adoption remains limited. The project maintains an active blockchain with regular transactions.

Business Model

BitCore operates as a decentralized peer-to-peer network, focusing on transfer of value and payments. The project's business model appears transparent and does not involve any inherently prohibited activities like interest-based lending or gambling.

Real-World Adoption

While BitCore maintains active development and a functioning network, current adoption levels are modest. The cryptocurrency can be traded on several exchanges and used for peer-to-peer transactions.

Token Distribution

BitCore's initial distribution was conducted through a fair launch mechanism, with no pre-mine for founders. The maximum supply is capped at 21 million BTX, similar to Bitcoin, with coins being released through mining rewards.

Crypto Impact

To assign a comfort level investing in BitCore from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BitCore.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Contribute