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#TBC# TuringBitChain (abbreviated as TBC) is a public chain based on the UTXO model that forks the original Bitcoin protocol. Here are some of its features:
1. Technical Innovation: Starting from the underlying TXID generation method, improving parallel performance, and pioneering a pure single-layer practical Turing-complete smart contract solution TuringContract based on the UTXO model, capable of implementing all EVM logic, with the advantages of high performance and extremely low transaction fees.
2. Consensus Mechanism and Algorithm: The same POW consensus scheme and SHA256 mining algorithm as BTC are adopted, ensuring the decentralization and security of TBC.
3. Block parameters: The block interval is approximately every 10 minutes, the difficulty adjustment algorithm is Asert FastDAA, and the initial block size limit is 4G, which will be dynamically expanded based on the situation.
4. Token Information: The TOKEN of the TBC public chain is called TBC coin, with a release date of February 15, 2024. The maximum supply cap is 2.1 billion, of which 93.3% naturally existed and has been locked during the fork, and the remaining 6.7% is generated through POW mining.
5. Main advantages: It features decentralization, compliance, efficiency, unlimited scalability, and zero-confirmation transaction technology, allowing data storage, contract execution, and transaction transmission to be completed on a single chain. It also possesses a wallet address identical to that of a Bitcoin wallet and will enable a 1:1 mapping function of Satoshi in the future.
6. Development History: 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 online; and on February 14, 2024, the mainnet 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 future integration of UTXO BVM chains with account model EVM chain ecosystems, creating a comprehensive underlying protocol to become a high-performance and Turing-complete blockchain infrastructure.