Ethereum is the second-largest cryptocurrency by market capitalization. The digital currency has significantly impacted the potential adoption of decentralized finance in major parts of the world. Some other projects have emerged, intending to replace the smart contracting platform.
However, Ethereum continues to become rampant due to its unique feature that supports the deployment of decentralized applications and layer-two scaling solutions, but there are some projects that bring significant technological advancements.
Bitcoin Spark is a project that will take the crypto industry by storm. The digital platform has new features and advanced technology that will completely transform blockchain technology. Bitcoin Spark has already amassed Web3 enthusiasts and regular individuals in its early initial coin offering phases.
What you'll learn 👉
Will Ethereum go up?
Amid the crypto winter, enthusiasts have had massive discussions on whether Ethereum will surge. Digital currency analysts believe the network will have an upsurge during the imminent bull run estimated to occur in the first quarter of 2024 after Bitcoin’s halving event.
Others believe the bull market might happen during the last quarter of 2023. This is based on previous market trends and movements, and Ethereum will likely follow suit.
Bitcoin Surge Alters Development to Blockchain
The new digital currency, Bitcoin Spark, has managed to attract enterprising individuals with its pertinent and vital features. The project leverages Web3 technology and smart contracts to enhance aspects such as transparency and efficiency. The decentralized ecosystem’s long search for a project that may take over Bitcoin and solve its faculties is soon moving to a halt.
The new inaugurant has mechanisms that operate under the proof-of-process mechanism. Proof-of-process is a validation mechanism that combines both staking and mining activities on the Bitcoin Spark network. Therefore, validators and miners will all gain rewards as they participate in the platform’s development, which will be standardized accordingly by a specialized mathematical blueprint.
Initial coin offering is regarded as an initial stage of fundraising for crypto projects. Most prominent digital currency projects commenced with ICOs. On the other hand, Bitcoin Spark has proven to be an integral part of the decentralized ecosystem as its presale reaches phase 4. The native token of the platform, BTCS, is purchased for as low as $2.25 for this phase. Individuals who buy the token will accumulate a 10% bonus during this phase. In addition, participants will also have 489% capital gains on 30th November, the launch period when BTCS tokens begin selling at $10 each.
The maximum supply of BTCS is similar to Bitcoin (21 million tokens). From the total supply, 21.66%, aggregates to 4.55 million, will be allocated to launch supply, while 78.33%, aggregating to 16.45 million, will be distributed to mining pools that network participants will earn when manning the network for a minimum of 120 years.
The launch supply will also be distributed to pre-launch exchanges, liquidity pools, team tokens, and initial coin offerings. Bitcoin Spark’s mission focuses on maintaining participants’ trust, promoting decentralization, and improving transparency. The first step in achieving this is through an audit. Therefore, Cognitos and Contract Wolf have audited the platform’s Know Your Customer (KYC) and smart contract elements.
Bottomline
Bitcoin Spark is the latest and newest Bitcoin alternative with improved features and a new consensus mechanism. Bitcoin has been a pivot in the ecosystem but has intense shortcomings. For instance, it is faced with centralization problems in mining activities.
Bitcoin Spark is an innovation that will utilize proof-of-stake and proof-of-work mechanisms altogether to improve blockchain technology and promote the industry’s growth. Crypto analysts depict that the project is a future-generation decentralized platform that will outperform most altcoins.
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