Bitcoin Spark (BTCS) is making waves in the crypto market yet again. According to recent rumors, ByBit and KuCoin crypto exchanges may be next to list this new Bitcoin fork after Uniswap and XT.
What is a Bitcoin fork?
A Bitcoin fork is a significant change in Bitcoin’s underlying blockchain protocol, resulting in the creation of a new, distinct cryptocurrency. There are two main types of Bitcoin forks: soft forks and hard forks. A soft fork is a backward-compatible upgrade, which means that the new rules are compatible with the old blockchain. On the other hand, a hard fork is a more radical change that is not backward-compatible, resulting in the emergence of a new blockchain.
Bitcoin Spark has gained the attention of crypto enthusiasts and investors for its unique approach. This Bitcoin hard fork preserves its predecessors’ fixed supply of 21 million coins while standing out with a host of groundbreaking enhancements and technologies poised to usher in a new era of digital transactions.
One of its core strengths lies in the ability to process many more transactions per second while maintaining low fees, facilitated by a shorter block time, higher individual block transaction capacities, and a substantially larger number of nodes. Bitcoin Spark also positions itself as a robust and versatile platform capable of supporting the development and utilization of smart contracts and decentralized applications (DApps). Its blockchain infrastructure is designed with multiple, seamlessly integrated layers, with a dedicated smart contract layer that has different execution systems, all reaching finality on the main network. This innovative framework enhances scalability and fosters diversity by allowing for both high-level and low-level programming languages.
Bitcoin Spark also sets itself apart with its proprietary consensus mechanism, the Proof-of-Process (PoP). The PoP will reward miners for contributing processing power to the network and confirming transactions, but its unique nonlinear algorithm will progressively reduce rewards with additional processing power, promoting fairness. This innovative reward mechanism, combined with the network’s vast nodes, fosters true decentralization by allowing for a large number of participants, including those with low-powered devices. The Bitcoin Spark team has even thoughtfully designed a user-friendly and lightweight application compatible with popular operating systems, to further enhance the accessibility of the network.
Notably, Bitcoin Spark addresses the growing demand for additional computing resources among institutions and individuals undertaking CPU/GPU-intensive tasks by enabling them to efficiently harness the power contributed by miners. Payments will be exclusively conducted in BTCS, and the miners will receive 97% of the revenue generated in addition to the minted BTCS and transaction fees from confirmed blocks.
Additionally, the Bitcoin Spark application and website will incorporate community-policed ad slots, with payments also in BTCS. Miners and network participants will receive 50% of the revenue generated, plus incentives for ad policing.
Bitcoin Spark is presently in the penultimate phase of its Initial Coin Offering (ICO), with BTCS priced at $3.5 and investors getting benefits, such as a 5% token bonus. Impressively, BTCS is set to launch on November 30 at $10.
Bitcoin Spark (BTCS) on ByBit and KuCoin
ByBit and KuCoin are well-established, reputable cryptocurrency exchanges with significant user bases and global reach, ranking among the top 5 by trading volume. Therefore, the listings would grant Bitcoin Spark access to a broader and more diverse audience, potentially increasing liquidity and demand. The increased exposure and trading activity would, in turn, drive up Bitcoin Spark’s market value and overall adoption within the crypto community. Overall, securing listings on both ByBit and KuCoin would be a game-changing development for Bitcoin Spark, providing it with a solid foundation for growth and a significant boost in its position within the competitive cryptocurrency market.
While no official communication has been made on the ByBit and KuCoin listings, these are signs that Bitcoin Spark (BTCS) has a promising trajectory ahead.
For more on Bitcoin Spark:
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.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com