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#TBC TuringBitChain (referred to as TBC) is a public chain based on the UTXO model and a FORK of the original Bitcoin protocol. Here are some of its features:
1. Technological innovation: Starting from the lowest level of TXID generation methods, improving parallel performance, we have pioneered a pure layer practical Turing complete smart contract solution TuringContract based on the UTXO model, which can realize all logic of the EVM, featuring high performance and extremely low transaction fees.
2. Consensus Mechanism and Algorithm: The same POW consensus scheme and SHA256 mining algorithm as BTC are used, ensuring the decentralization and security of TBC.
3. Block parameters: The block interval is about every 10 minutes, the difficulty adjustment algorithm is Asert FastDAA, and the initial block size limit is 4G, which will be dynamically expanded as needed.
4. Token Information: The TOKEN of the TBC public chain is called TBC coin, with a release date of February 15, 2024, and a maximum supply cap of 2.1 billion, of which 93.3% naturally existed at the time of the fork and has been locked, while the remaining 6.7% is generated through POW mining.
5. Main advantages: It features decentralization, compliance, high efficiency, unlimited scalability, and zero-confirmation transaction technology, allowing data storage, contract execution, and transaction transmission to all be completed on a single chain. It also has the same wallet address as a Bitcoin wallet address and will enable a 1:1 mapping function with Bitcoin in the future.
6. Development Timeline: In September 2021, the underlying invention technology was announced; in March 2022, the Turing-complete high-performance Layer 1 smart contract Turing - Contract was released; in December 2023, the TBC Alpha test network went live; and on February 14, 2024, the mainnet was officially launched.
TBC aims to unleash the potential of Bitcoin in participating in DeFi, NFT, LSD, and other ecological applications through the Bitcoin Virtual Machine (BVM), assisting the integration of the UTXO BVM chain with the account model EVM chain ecosystem in the future, and creating a comprehensive underlying protocol to become a high-performance and Turing-complete blockchain infrastructure.