Donald Trump reportedly holds $500,000 in Ethereum, and potentially, this Bitcoin alternative
The former United States president, Donald Trump, reportedly holds Ethereum worth $500,000. Despite being crypto-skeptic, Donald Trump unleashed his collection of non-fungible tokens, which sold out in hours. This is an indication of an improvement in the blockchain ecosystem. The next Bitcoin alternative, Bitcoin Spark, could reach greater heights and draw retail and large-scale investors into the crypto realm.
What you'll learn 👉
Donald Trump’s net worth, ETH Price
The United States Government of Ethics reported that Donald Trump, the former US president, has $500,000 worth of Ethereum. It is a surprising event since Trump consistently was anti-crypto. Nevertheless, it is lucrative for the ecosystem depicting huge investors joining the bandwagon in dropping their capital in web3. Amid the bear market in the virtual currency ecosystem, Ethereum has managed to have a slight surge. The Ethereum cryptocurrency is expected to surge during the imminent bull market.
The New Bitcoin Alternative Gains Attraction in Blockchain
Bitcoin Spark is the new blockchain platform that is intriguing both large-scale and retail investors, making the ledger technology develop more. The platform uses a new consensus mechanism referred to as proof-of-process. The consensus mechanism integrates proof-of-stake and proof-of-work; hence, miners and validators get to earn rewards while operating in the same network. The platform has a strategic system that promotes the linear distribution of rewards.
The native token for the project is BTCS. BTCS is also the gas token utilized to reward users who participate in the project’s development. The total supply of BTCS is 21 million like that of Bitcoin. The launch price of the token is 4.55 million, which averages 21.66% of total supply. This launch supply will be allocated to pre-network launch exchanges and liquidity pools, the core team, and the ongoing initial coin offering.
Community members can purchase BTCS at a cheaper rate during phase 2 of the ICO at $1.75 each and receive a 15% bonus. During the launch period on 30th November, each BTCS token will sell for $10. Participants who bought BTCS tokens during this phase will have a 657% profit on their invested capital.
Mining is an integral part of a crypto project as it strengthens security and makes community members earn an income. However, Bitcoin’s mining ecosystem is set in a centralized manner. Firms and wealthy members with access to high electrical power and equipment have higher chances of earning more, diminishing small scale mining individuals.
Bitcoin Spark has an alternative solution where users can rent processing power to participate in mining activity without the need for excessive power and mining equipment. They only need an electrical hand-held device that connects to the internet of up to 50 MBps to process the transactions. This can be a mobile phone, tablet or a laptop powered by Windows, Mac OS, iOS, or Linux.
Moreover, the protocol has a unique marketing strategy which incentivizes investors to generate revenue within blockchain technology. Vital Block and Cognitos have also audited the project to enhance eligibility, credibility and efficiency. The project’s roadmap is clear and precise, showcasing development from the initial stages to the post-launch period.
Conclusion
The cryptocurrency ecosystem has faced several critics and sceptics since the inauguration of Bitcoin. However, blockchain technology continues to develop as several innovations are being introduced that are gaining massive adoption. Projects such as Bitcoin Spark have already taken root in promoting the growth of the ledger technology through its one-of-kind consensus mechanism that enables both validators and miners to receive rewards. The platform’s leadership team is solid and comprehends the core values for a digital platform to develop,
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