Bitcoin Faith price is $0.11550600
| Market Rank | ? |
|---|---|
| Market Cap | ? |
| Volume 24h | $ 43.1M |
| Circ. Supply | ? |
| Total Supply | 21.0M |
| Max Supply | 21.0M |
The current price of Bitcoin Faith (BTF) is $ 0.11550600. In the past 24 hours, the value of Bitcoin Faith has decreased, showing a change percentage of -4.61%.
Bitcoin Faith (BTF) is a cryptocurrency that was created as a fork of Bitcoin at block height 500,000. It is designed to incorporate new features with the intention of enhancing the Bitcoin network. BTF aims to be a more versatile and practical digital currency by supporting larger block sizes and integrating a more sophisticated consensus mechanism.
Bitcoin Faith was developed by the BitGo team, who have stated their intent to add innovative features to Bitcoin. BitGo is a team that is known for offering digital asset security solutions, and they have taken the initiative to create BTF with the goal of improving the network and expanding Bitcoin's capabilities.
Similar to Bitcoin, Bitcoin Faith operates on a blockchain network but with some distinct changes. The BTF blockchain has a block size of 8MB, which is larger than Bitcoin's originally implemented block size, allowing for more transactions to be included in each block. This is intended to improve network throughput and reduce transaction times. Furthermore, BTF has introduced changes in its consensus mechanism to create a more efficient and secure network.
Bitcoin Faith's unique proposition lies in its enhancements over the original Bitcoin protocol. The increased block size of 8MB is a significant change aimed at supporting more transactions and helping to scale the network. Moreover, Bitcoin Faith has plans to integrate smart contract functionality into its network. This would enable the issuance of assets on-chain and the creation of decentralized applications, thereby expanding the utility of BTF beyond simple transactions.
While inheriting the core principles of Bitcoin's technology, Bitcoin Faith differentiates itself by adopting a larger block size and a revised consensus mechanism. These modifications are designed to resolve some of the scalability issues faced by the original Bitcoin network. Additionally, Bitcoin Faith plans to implement built-in smart contracts, which could vastly extend its use cases and allow it to serve as a platform for decentralized finance and other applications.
The BitGo team has expressed their intent to include built-in smart contract capabilities in the Bitcoin Faith network. This would make BTF not only a method of value transfer but also a foundation for building decentralized applications and on-chain asset issuance. Smart contracts are self-executing contracts with the terms of the agreement directly written into code, and they could greatly enhance the functionality of the Bitcoin Faith blockchain.
At the time of the fork, Bitcoin owners received Bitcoin Faith (BTF) at a 1:1 ratio. This means that for every Bitcoin held by an individual at the fork, they were eligible to receive an equivalent amount of BTF. of BTF is currently in circulation.
As of now, the market capitalization of Bitcoin Faith (BTF) stands at $ . It ranks at #1 in the market, indicating its relative size compared to other cryptocurrencies.
Bitcoin Faith (BTF) can be purchased on the Huobi, KuCoin, Hotbit exchanges. These platforms offer a space for investors to buy, sell, or trade BTF, as well as many other cryptocurrencies. As always, it's important to use a trusted and secure exchange when dealing with digital assets.
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