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Bitcoin Faith (BTF), a Bitcoin fork developed by Bitgo, launched at block height 500000. It offers an 8M block size and improved consensus mechanisms for better scalability and network efficiency. With a 1:1 distribution ratio with Bitcoin at the fork, BTF also plans to integrate smart contracts to support on-chain asset issuance and application development, enhancing its utility and practical value. Future goals include further perfecting the Bitcoin network through added features and intelligent contracts, making BTF a significant player in the crypto ecosystem.
Bitcoin Faith (BTF), a Bitcoin fork developed by Bitgo, launched at block height 500000. It offers an 8M block size and improved consensus mechanisms for better scalability and network efficiency. With a 1:1 distribution ratio with Bitcoin at the fork, BTF also plans to integrate smart contracts to support on-chain asset issuance and application development, enhancing its utility and practical value. Future goals include further perfecting the Bitcoin network through added features and intelligent contracts, making BTF a significant player in the crypto ecosystem.
Bitcoin Faith (BTF) is a fork of Bitcoin developed by the Bitgo team, launched at block height 500000. It aims to enhance the Bitcoin network by introducing larger 8M block sizes and improved consensus mechanisms, along with plans to integrate smart contracts for on-chain asset issuance and application development.
At the time of the fork, Bitcoin Faith (BTF) was distributed to users with Bitcoin addresses in a 1:1 ratio. This means that for each Bitcoin owned, users received an equivalent amount of BTF, facilitating smooth adoption across the network.
Bitcoin Faith's 8M block size offers enhanced transaction capabilities by supporting larger blocks. This improvement reduces congestion and increases the network's capacity, providing faster and more efficient transaction processing compared to the original Bitcoin protocol.
Bitcoin Faith stands out by planning to integrate intelligent contracts into its blockchain, allowing for the issuance of assets on-chain and application development. These enhancements aim to make BTF a more versatile and valuable currency in the crypto space.
Integrating smart contracts into Bitcoin Faith is significant because it enables new functionalities like asset issuance on the blockchain and decentralized application development, enhancing the utility of the Bitcoin network beyond simple transactions.
If users face issues with Bitcoin Faith's consensus mechanism, it is essential to ensure their software is updated to the latest version provided by the Bitgo team. This ensures compatibility with the network's improved consensus updates and helps maintain stable transactions.
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