Innovation is the driving force that sets apart the trailblazers from the followers in the crypto world. That said, Bitcoin Spark is infusing fresh vitality into the crypto landscape while Litecoin lags behind.
Litecoin price prediction
The Litecoin (LTC) price currently teeters near a critical support level at $65, following a notable decline from the $80 range. Technical analysis reveals the formation of a double bottom pattern, an indicator of a potential trend reversal. However, LTC faces a challenge in surmounting the 20-day Exponential Moving Average (EMA), finding itself at a pivotal juncture. If it manages to maintain its position above the $60 threshold and attracts renewed buying interest, it could potentially reverse its recent losses and strive to reclaim the $80 mark. Conversely, a dip below the $60 level could spell trouble, potentially leading to a more pronounced decline, with $50 as the target.
What is Bitcoin Spark?
Bitcoin Spark is a Bitcoin hard fork, just like Litecoin. However, it retains only the best attributes of Bitcoin, such as a max supply of 21 million, while introducing major changes that set it on its own distinct path and bring forth a new era of crypto.
At the core of Bitcoin Spark’s transformation is a focus on achieving higher transaction throughput with fast processing speeds and reduced transaction costs. This feat is accomplished by strategically reducing the block time, increasing individual block transaction capacities, and substantially expanding the network’s nodes.
One of the most significant developments in Bitcoin Spark is its ability to support smart contracts and decentralized applications (DApps). It has a multi-layered architecture with distinct contract execution systems but singular network finality, ensuring scalability and enabling the use of various programming languages, both high-level and low-level, fostering a diverse ecosystem of developers.
Bitcoin Spark further distinguishes itself with its proprietary consensus mechanism, the Proof-of-Process (PoP). The PoP rewards miners for confirming transactions and contributing their mining devices’ processing power. The mechanism incorporates an algorithm that exponentially diminishes rewards per additional processing power, ensuring a fair distribution of rewards among larger and smaller miners. This, combined with vast network nodes, allows even those with low-powered devices to mine BTCS profitably. The Bitcoin Spark team will provide a mining application compatible with a wide range of operating systems, including iOS, Windows, Android, Linux, and Mac OS. To mine, users will need to simply install the application and grant it access to the device’s processing unit. The app then creates a virtual working environment that minimizes device interference and automatically regulates the processing power used to account for overheating, battery life, and simultaneous device usage needs. This ensures that the work and power required to mine BTCS is significantly reduced.
The power provided by miners is rented out through the Bitcoin Spark network as remote computing power, ensuring energy consumption used in mining serves a valid purpose. Clients on the network make payments in BTCS, with the revenue generated going to the mining pool. BTCS miners will thus receive newly minted BTCS, transaction fees, and income from renting out their idle processing power.
Furthermore, the Bitcoin Spark’s application and blockchain explorer will include small spaces for community-policied ads, which will be paid for using BTCS. This integrates the Bitcoin Spark ecosystem with the flourishing marketing industry to generate income for its participants and development team
Bitcoin Spark price
Bitcoin Spark (BTCS) is set to launch at $10 but is currently selling at $2.75 in the sixth phase of its Initial Coin Offering (ICO). Market analysts have expressed optimism regarding Bitcoin Spark, suggesting it has the potential for substantial price gains post-launch. They point to Bitcoin Spark’s innovative technology, limited supply of tokens, low market capitalization, and real-world use cases as major contributors to its upward trajectory.
For more on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.