Cryptocurrency is an attractive niche distinguished from other technologies because it has various means of generating revenue. The industry has the most influential decentralized network (Bitcoin) in the world. Bitcoin hard fork is a protocol change for rules applied in computers that generate new blocks in the distributed ledger. Bitcoin Spark aims to create a new way for the hard fork to operate while rewarding market participants in a standard way. The new project will capture global attention for the perks it offers and multiple earning methods.
Ethereum Price Prediction
Vitalik Buterin saw an opportunity to solve Bitcoin’s transaction issues by developing Ethereum. The network went live on mainnet allowing blockchain developers to generate decentralized applications. Its price is set to increase during the next bull run in 2024. This might also happen earlier than anticipated. However, users are advised to stay calm as the new network (Bitcoin Spark) blends in Bitcoin’s hard fork.
Bitcoin Spark integrates Ethereum and Bitcoin’s Consensus Mechanism
The decentralized ecosystem is a significant feature of modern technology. The industry has given individuals power over their finances compared to traditional finance. Bitcoin, for instance, is used for decentralized peer-to-peer transactions. Therefore, the monetary system has less power over a citizen’s assets. However, Bitcoin has limitations, such as centralization in mining, lower transaction speeds that lead to high transaction costs, and a need for smart contracts.
Bitcoin spark is a critical network that will solve Bitcoin’s constraints using a new consensus mechanism known as proof-of-process (PoP). PoP is a system that combines proof-of-stake and proof-of-work as well as a strategic scientific algorithmic system that evicts centralization in allocating rewards to miners and validators. The new network (Bitcoin Spark) will decrease the term per block to improve the transaction speeds. Additionally, Chain fees will be reduced by increasing node quantity and having low running costs.
On Bitcoin Spark’s network, any individual can begin mining BTCS tokens since it’s an essential part of the development of blockchain technology. Bitcoin Spark solves this impediment by renting out processing power to clients at an affordable price. The clientele only needs to pay for the service via the native token BTCS. The token is also used for rewarding clients who actively partake in the project’s development. The total supply of BTCS is 21 million, but the launch supply will be 4.55 million.
Bitcoin Spark community anticipates the commencement of the initial coin offering (ICO) phase 1 on August 1st, where users will get a 20% bonus for all purchases made during the phase. The peg price for the token in this phase is $1.50. The early bird contributors will get a chance to gain an 800% profit come November 30th when the project launches live on mainnet. The leading team of the project comprises Steven Kurtz and Dylan Ashford who believe in the project’s successful development in blockchain technology.
Bottomline
Most individuals from around would like to generate revenue from the cryptocurrency ecosystem. However, there lies a great challenge for which project has different methods for earning. Bitcoin Spark is the new entrant into the ecosphere that has the potential to provide multiple ways of revenue generation. The platform has a strategic marketing system that will use updated technology to reach new highs. The venue itself is user-friendly; even a newbie can navigate while in the community.
For more information:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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