Staying up to date with the latest information is a crucial factor for success when investing, especially in the crypto market. On that note, a Wall Street crypto broker recently recommended that clients shift from Ethereum (ETH) to a compelling new Bitcoin alternative known as Bitcoin Spark (BTCS).
The Ethereum (ETH) price continues to hold above a critical support level, following a substantial uptrend that commenced in mid-October. On-chain metrics reveal a diminishing supply of ETH on exchanges, indicating a growing trend of investors choosing to hold their assets. However, Vitalik Buterin, one of the co-founders of Ethereum, recently transferred 100 ETH coins to Coinbase. And while Buterin has previously stated that he hasn’t sold ETH for personal gain since 2018, the latest transaction has generated some skepticism and led to discussions about its potential impact on the price.
How to mine Ethereum?
Traditional Ethereum (ETH) mining, which involved using computational power to solve complex mathematical puzzles and validate transactions, is no longer a viable option as the network transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) system. Instead of miners, the network now relies on validators who lock up a certain amount of ETH (at least 32) as collateral to propose and confirm new blocks. The more ETH staked, the higher the chance of becoming a validator and earning rewards. While this shift has made Ethereum’s network validation process faster and more energy-efficient, there have been increasing concerns about the potential for centralization as those with large amounts of ETH could wield significant control over the network.
Bitcoin Spark is a Satoshi-inspired project that combines a limited supply of 21 million coins with an array of innovative features aimed at solving the limitations of previous blockchain networks and introducing a new age of digital transactions.
Bitcoin Spark ensures faster and cheaper transaction processing with a low block time, remarkable individual block transaction capabilities, and extensive network nodes. Bitcoin Spark also boasts a scalable infrastructure capable of supporting the creation and deployment of diverse smart contracts and decentralized applications (DApps). The network has multiple, harmoniously integrated layers, including a dedicated smart contract layer with separate execution systems that enable the use of high-level and low-level programming languages, including Solidity, Rust, and Vyper.
Additionally, Bitcoin Spark uses its own consensus mechanism, which has been positioned as an effective cross between Proof-of-Work and Proof-of-Stake (PoS) systems. The PoP requires users to contribute BTCS tokens and processing power to the network in order for them to confirm blocks and earn rewards. However, this cutting-edge mechanism exponentially reduces rewards per additional stake and processing power, creating a fairer system. The nonlinearity of PoP’s rewards, coupled with the network’s massive nodes, allows for an unlimited number of validators, forging a path toward true decentralization. To further enhance its accessibility, the Bitcoin Spark team is set to launch a network validation application compatible with popular operating systems, such as Windows, iOS, and Android.
Interestingly, Bitcoin Spark intends to efficiently rent out the power contributed by validators to institutions and individuals seeking remote computing resources, requiring payments solely in BTCS. This provides a unique use case for the crypto while enabling validators, who receive newly minted BTCS and transaction fees from validating blocks, to bring income from otherwise dormant processing power, as they will get 97% of the revenue earned. The 3% will go to the network’s team for income and network development, creating a sustainable and mutually beneficial ecosystem.
Bitcoin Spark will also integrate its ecosystem with the booming marketing industry by leaving small spaces for community-policied ads on its application and blockchain explorer. The slots will also be paid for in BTCS, and network participants will receive 50% of the revenue plus additional incentives for policing the ads.
Notably, the Bitcoin Spark network has passed multiple smart contract audits, confirming the sustainability of its systems.
The Bitcoin Spark ICO (Initial Coin Offering), which has seen millions in investments, is in the second-last phase, with BTCS priced at $3.5 and investors getting a 5% bonus, among other benefits. The crypto will launch at $10 on November 30, and many factors suggest the potential for continued price appreciation, including its real-world uses, limited supply, low market capitalization, and innovative, community-centered approach.
For more information on Bitcoin Spark:
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