The crypto landscape is notably gaining more traction with each passing year. As such, let’s explore the cutting-edge developments reshaping this space, focusing on the game-changing technologies of VeChain (VET), Quant (QNT), and Bitcoin Spark (BTCS).
What you'll learn 👉
Vechain
VeChain is a blockchain platform that focuses on enhancing supply chain management and product verification by creating a transparent and tamper-proof record of the entire lifecycle of products. It achieves this through the use of unique product identifiers and RFID (Radio-Frequency Identification) technology.
This enables businesses and consumers to track the origin, authenticity, and quality of products, from raw materials to the final product on store shelves. VeChain’s native cryptocurrency, VET, is used for transaction fees and staking within the network. The platform has gained popularity for its ability to combat counterfeit goods and improve supply chain efficiency, making it a valuable tool for industries like food, luxury goods, and pharmaceuticals.
Quant
Quant is a distributed ledger technology (DLT) service provider that improves connections and communications between blockchains. It achieves this through its innovative Overledger technology, which acts as a bridge between various blockchain platforms. This interoperability enables the exchange of data and assets across different networks, unlocking a wide range of use cases.
Quant Network’s vision is to facilitate the development of a decentralized internet of trust, where information and value can flow securely and transparently across multiple blockchain networks. QNT, the Quant Network’s native token, is used to access the Overledger technology, pay transaction fees, staking, participate in governance, and enable secure cross-chain data and asset transfers within the ecosystem.
Bitcoin Spark
Bitcoin Spark is a new blockchain project that seeks to create a self-sustaining and revenue-generating network with constantly profitable participants while solving the limitations of previous layer-1 (L1) blockchains.
Bitcoin Spark uses a proprietary consensus mechanism known as the Proof-of-Process (PoP). This groundbreaking consensus mechanism combines elements of Proof-of-Work (PoW) and Proof-of-Stake (PoS), requiring users to provide their processing power to the network in order to validate blocks and earn rewards. Notably, the PoP exponentially decreases rewards per additional power, promoting a fairer rewards system.
The Bitcoin Spark network will have a vast number of nodes, which, combined with nonlinear rewards functionality, will allow even low-powered devices to run the network. The Bitcoin Spark team will launch a native network application, which will serve as a wallet and validation software. The app is set to be safe, user-friendly, lightweight, and compatible with various operating systems, including Windows, Linux, iOS, and Android.
The validators’ contributed power will be offered for rent to individuals or institutions seeking remote computing resources. The network’s clients will be required to pay with BTCS, and 97% of the generated revenue will be allocated to network validators, in addition to minted BTCS and transaction fees from validated blocks. The remaining 3% will go to the team for income, maintenance, and development.
Additionally, Bitcoin Spark will have unobtrusive spaces for advertisements on its application and blockchain explorer, which will be subject to community oversight to ensure security and uphold decentralization. Advertisers will also be required to pay using BTCS, providing additional real-world use. Network participants will receive 50% of the generated revenue plus extra incentives for policing the ads.
The ability for unlimited devices to provide processing power, combined with the booming of the marketing industry, suggests infinite revenue-generation potential.
Aside from this, Bitcoin Sparks also provides a robust platform for smart contracts and decentralized applications (DApps). It has a dedicated smart contract layer that includes multiple execution systems that all reach finality on the main network, allowing developers to use a variety of popular programming languages, both high-level and low-level.
The Bitcoin Spark network ensures fast transaction processing and low gas fees by having a shortened block time, high individual transaction capacity per block, and a large number of nodes.
Bitcoin Spark is currently in its Initial Coin Offering (ICO), which has received massive investments and many positive reviews so far, suggesting there’s great confidence in its prospects.
Conclusion
VeChain (VET), Quant (QNT), and Bitcoin Spark (BTCS) deserve keen attention as they are pushing the boundaries, offering innovative solutions that hold the promise of reshaping the crypto space.
To know more about the passive income generator, Bitcoin Spark (BTCS):
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
