In the competitive crypto investment arena, a project’s mass adoption is crucial for success. Bitcoin Spark, a promising blockchain project, strives to achieve just that by offering easy-to-access unique features that potentially attract a larger community than Ethereum.
Ethereum is the leading smart contract platform comprising dApps, NFTs, DeFi, and infrastructure for several layer 2 projects. It is second only to BTC in market capitalization, and, with its robust and versatile capabilities, ETH has become the go-to choice for developers and entrepreneurs seeking to build decentralized applications and innovative blockchain-based solutions.
The ETH price has hovered around $1800 and $1900, with Ethereum price prediction noting a resistance level at $2000. However, with scalability and gas fee concerns becoming more prominent as the network matures, newer platforms like Bitcoin Spark are exploring innovative solutions to compete in the market, offering increased accessibility and scalability to a broader audience.
Bitcoin Spark is a Bitcoin fork project aiming to address challenges faced by traditional Bitcoin and other cryptocurrencies. It offers a more accessible and user-friendly approach to mining and transaction processing while addressing speed, security, and scalability. As Bitcoin deploys Proof-of-Work, BTCS uses an all new blockchain technology called “Proof-Of-Process” (PoP). PoP integrates the elements of proof-of-stake (PoS) and proof-of-work (PoW). Users can stake tokens on the network similar to how PoS blockchains function. However, the staking does not directly correlate to the amount of rewards earned, unlike traditional PoS systems with linear rewards systems. As such, users must provide processing power to the network in addition to the stake. This processing power is utilized by the Bitcoin Spark application to offer remote computing processing for high CPU or GPU load tasks. By combining staking and processing power, Bitcoin Spark (BTCS) ensures that participants are incentivized to secure the network and contribute to its functionality with a bias to revenue generation aspects.
The rewards in Bitcoin Spark are distributed based on a blend of individual stakes and the work done for those renting the network’s computing power. The higher the stake and the more work done, the higher the rewards but it is designed in a non-linear system, through advanced algorithms to prevent any single miner from becoming too powerful, thereby compromising network security.
Furthermore, Bitcoin Spark operates in a virtual environment within its application, which limits the resources it can use on the user’s device. This environment ensures that the mining capability is controlled and does not interfere with other processes or access local files on the device.
By offering an easy-to-use app compatible with Windows, Mac OS, Linux, Android, and iOS, Bitcoin Spark makes mining more accessible to a diverse audience. The application also functions as a wallet for the safe custody of digital assets. On launch, it will allow users to create independent mining applications through smart contracts.
Bitcoin Spark rolled out its ICO phase one on August 1 with one BTCS at $1.50 and a 20% bonus to early adopters. The affordable entry value is akin to BTC in its early stages, and one can imagine being able to buy BTC when it was only 1$.
Bitcoin Spark seeks to create a sustainable and profitable network by incentivizing users to actively participate in staking and providing processing power, fostering true decentralization and stability within the ecosystem.
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