DEFINITION of 'Bitcoin Core'

An integral part of the Bitcoin network, Bitcoin Core is a software program specially designed to correctly identify valid blocks on the blockchain that contains valid Bitcoin transactions. It includes a secure wallet that can be used to store, send and receive bitcoins.

BREAKING DOWN 'Bitcoin Core'

The use of Bitcoin Core by participants helps keep the blockchain completely decentralized, and keeps the Bitcoin blockchain clearly distinguishable from other fork-out versions like Bitcoin Cash, Bitcoin Gold, and Bitcoin Diamond.

There has been a steady rise in the number of Bitcoin forks. This has led to the emergence of a large number of cryptocurrency networks that work on patterns similar to that of the original Bitcoin, but they are not exactly Bitcoin.

Since these forked versions run on a split version of the original Bitcoin blockchain, the use of Bitcoin Core helps users distinguish the original Bitcoin blockchain among the various other blockchains.

Bitcoin Core allows its users to process only valid transactions for the Bitcoin blockchain, making it the blockchain of choice that everyone wants to use.

Bitcoin Core enables users to get improved security for their bitcoin holdings, intrinsic privacy features, and other features like better user interfaces that may not be available on other networks. (For more, see Will Bitcoin Undergo 50 Forks In 2018?)

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