With the predicted 2024 crypto bull run quickly approaching, experts recommend seeking alternative cryptocurrencies. That said, Bitcoin Spark (BTCS), Fantom (FTM), and Polygon (MATIC) have been ranked among the best altcoins for the next bull run.
Will Altcoins go up?
During crypto bull runs, altcoins often experience significant upward movements. As Bitcoin (BTC), the leading cryptocurrency, gains value, it attracts more mainstream attention and investors who seek additional opportunities for profit. Additionally, during bullish periods, astute traders and investors are more willing to take risks, leading them to explore lesser-known projects with the hope of identifying the next big success. As such, altcoins get increased demand, which consequently leads to higher prices. The choice of the altcoin is fueled by a combination of factors, including technological innovations, partnerships, and real-world use cases.
Bitcoin Spark has gained significant attention within the crypto community since its Initial Coin Offering (ICO) started on August 1st. This innovative Satoshi-inspired crypto project merges a capped supply of 21 million coins with technologies and features designed to usher in a new generation of digital transactions.
The Bitcoin Spark blockchain has been designed to ensure fast transaction processing and low transaction costs, with features like a short block time, high individual block transaction capacities, and a vast network of nodes. Additionally, the blockchain is built with multiple layers, seamlessly integrated to ensure scalability and versatility. It will, for example, feature a dedicated smart contract layer with separate execution systems that attain singular finality on the main network, enabling the development of smart contracts and decentralized applications (DApps) within Bitcoin Spark. Interestingly, the unique architecture will enable developers to utilize both high-level and low-level programming languages.
Moreover, Bitcoin Spark pioneers decentralized CPU and GPU renting with its proprietary consensus mechanism, the Proof-of-Process (PoP). The PoP will non-linearly reward participants for validating transactions and contributing their processing power to the network. The nonlinear functionality, coupled with the vast network nodes, will enable Bitcoin Spark to accommodate a significantly large number of validators. To facilitate this, the Bitcoin Spark team is set to launch a lightweight, secure, and easy-to-use application compatible with many popular operating systems, including iOS, Windows, and Android. The decentralized CPU and GPU rental service will be paid for in BTCS, and 3% of the revenue earned will go towards network development, with the remaining going to network validators, who also get minted BTCS and transaction fees from validated blocks.
Furthermore, the Bitcoin Spark application and website will have unobtrusive spaces for advertisements, which will be policed by the community and paid for in BTCS. Network participants will receive 50% of the generated revenue plus extra incentives for policing the ads.
The Bitcoin Spark development team has ensured the sustainability of the network by taking it through multiple audits. The project’s ICO will enter its last phase on November 15th at $3.75, with its launch scheduled for November 30th at $10.
Fantom vs Polygon
Fantom (FTM) and Polygon (MATIC) are both prominent contenders, each offering unique solutions to address scalability and transaction efficiency issues. Fantom is a layer-1 blockchain that utilizes a Directed Acyclic Graph (DAG) structure to achieve high throughput and low latency. This architecture positions Fantom as a high-performance platform capable of catering to diverse, decentralized applications (DApps) and smart contracts. The Fantom Opera Chain is also compatible with the Ethereum Virtual Machine (EVM), making it easy for developers to port their existing Ethereum-based applications to the Fantom network. On the other hand, Polygon is a Layer-2 scaling solution, providing a framework for building and connecting multiple blockchains, known as sidechains, to the Ethereum network. This modular approach allows developers to create decentralized applications (DApps) with increased efficiency and reduced transaction fees while benefiting from the security of Ethereum.
While market dynamics can be unpredictable, the innovative approaches of Bitcoin Spark, Fantom, and Polygon make them noteworthy players to watch in the upcoming bull run.
For more information on Bitcoin Spark:
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