Cryptocurrencies offer a great investment channel that suits retail and institutional investors. The ecosystem has witnessed immense growth and expansion with the advancement of technology and the increasing number of worldwide users. Near Protocol has attracted the eyeballs of many crypto enthusiasts by recording bullish activities. Despite recording the gains, investors are shifting to a Bitcoin alternative project with more potential than Near Protocol.
What is Near Protocol (NEAR)?
Near Protocol is a decentralized platform designed to improve the scalability of Web3 and the deployment of decentralized applications. Near protocol is popularly known for its latency and high transaction speeds. The transaction speeds are achieved through a unique consensus mechanism called Nightshade, which allows the platform to retain single-chain data when offering the computational requirements needed to maintain chunks of data. Near’s decentralization is evident from its open-source capacity of allowing many developers to work on the platform simultaneously. The platform’s native token is called NEAR, which plays a major role in some of the vital activities of the network, including settling gas fees, staking, and governance.
What is Bitcoin Spark (BTCS)?
Bitcoin Spark is a revolutionary blockchain with an audited smart contract layer that promotes the deployment of decentralized applications. Bitcoin Spark borrows its tokenomics from Bitcoin. The platform has 21 million BTCS tokens on Ethereum as ERC 20 tokens. The Bitcoin Spark team is conducting tests on the incoming Bitcoin Spark mainnet, after which they will develop a bridging system to give ICO participants a chance to convert their assets from ERC-20 to mainnet BTCS.
Bitcoin Spark’s majority of the token supply has been allocated to the mining pools, implying that the project promotes decentralization and favors its community members. The project’s smart contract has passed three independent auditing processes from well-known and credible auditing firms. Bitcoin Spark will use an effective marketing strategy called innovative disruption that has already conditioned Bitcoin Spark as a first t market platform. The strategy will involve innovative marketing ideas, including storytelling and technology platforms.
What makes Bitcoin Spark unique from other DeFi platforms is its mining activities. Unlike proof-of-work blockchains that capitalize on a high-energy affinity mining process, Bitcoin Spark simplifies and decentralizes the process to benefit retail community members. The proof of work consensus in Bitcoin is centralized and only profits the ultra-wealthy. Bitcoin Spark is reciprocating the scenario by rewarding retail investors.
The mining process will allow miners to use low-powered devices such as laptops, mobile phones, and tablets. The team is developing a mining application linked to the project’s smart contract that will be compatible with different devices’ operating systems, including Windows, Android, Linux, and Mac OS. Bitcoin Spark’s innovation narrows down to its highly adaptive smart contract that accommodates various programming languages. The smart contract has been designed to power both low-level and high-level languages, including but not limited to Vyper and Solidity.
Bitcoin Spark has the potential to outperform Near protocol through its massive utility. The project is pioneering income-generating sources for its community members to favor long-term BTCS holders. The revenue will be used to replenish mining pools and ensure profitability with the limited amount of BTCS.
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