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#TBC TuringBitChain (abbreviated as TBC) is a public chain based on the UTXO model of the FORK Bitcoin original protocol. Here are some of its features:
1. Technical innovation: Starting from the generation method of the lowest level TXID, improving parallel performance, and pioneering a pure layer Turing complete smart contract solution based on the UTXO model called TuringContract, which can achieve all the logic of EVM, featuring high performance and extremely low 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 approximately every 10 minutes, the difficulty adjustment algorithm is Asert FastDAA, and the initial upper limit of the block size is 4G, which will be dynamically expanded as needed.
4. Token Information: The TOKEN of TBC public chain is called TBC coin, with a release date of February 15, 2024. The maximum supply cap is 2.1 billion coins, of which 93.3% naturally existed and have been locked at the time of the fork, and the remaining 6.7% is generated through POW mining.
5. Main advantages: It features decentralization, compliance and efficiency, unlimited scalability, and zero-confirmation transaction technology, enabling data storage, contract execution, and transaction transmission to all be completed on a single chain. It also has wallet addresses identical to Bitcoin wallet addresses and will implement a 1:1 mapping function for Bitcoin 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 net 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 UTXO BVM chain in the future integration with the account model EVM chain ecology, creating a complete underlying protocol to become a high-performance and Turing-complete blockchain infrastructure.