Blockchain tech has transformed and inaugurated new platforms such as Ethereum and Bitcoin Spark. When Vitalik developed the Ethereum network, he envisioned a platform supporting decentralized applications. Blockchain developers can now utilize programming languages while creating DApps. In addition, a smart contract was embedded within the ecosystem that promotes automatic transactions.
Bitcoin Spark is another project with smart contracts that will facilitate improved scalability and interoperability in the network. A faster and more secure network will significantly develop blockchain technology, and Bitcoin Spark has the necessary features.
What are Smart Contracts?
Smart contracts are peer-to-peer agreements conducted on blockchain technology to execute automatic transactions. Nick Szabo, a forerunner in contemporary computer science, first developed the concept in the 1990s and described it as a collection of digital agreements with corresponding implementation mechanisms.
Ethereum is the first digital network that led to the inauguration of smart contracts. With Ethereum, the generation and execution of smart contracts are simplified as complex transactions that can be programmed in a network.
Bitcoin Spark Ignites New Era of Smart Contracts
Bitcoin Spark is a future-generation network that leverages blockchain technology to expedite transparency in the decentralized ecosystem. The project has already hit the entrepreneur’s eyesight with essential features enabling equal reward distribution. Three consistent and prominent auditing companies, Cognitios, Vital Block, and Contract Wolf, have conducted a comprehensive audition of the platform. The audit signifies a pertinent role as investors are assured of security and efficiency.
For every crypto platform that emerges in the distributed ledger, there must be ways of revenue generation as proof of quality maintenance of the platform. Bitcoin Spark has two distinct methods of generating revenue: advertisement and renting processing power. Miners and validators who participate in confirming blocks also provide processing power to the platform.
Interested individuals and external firms utilize the processing power to conduct film rendering processes and solve intricate computation equations. The BTCS collected as payment from the processing power will be distributed to the mining rewards pool to increase the mining rewards. Bitcoin Spark’s team will take 3% of the processing power revenue for income and maintenance of the platform. Advertisement is another means that Bitcoin Spark will utilize to generate revenue.
A small unused section in Bitcoin Spark’s website and application will be used for brand promotion. Nevertheless, the advertising program will be elastic based on supply and demand. When the advertisement demand is high, then the price will be slightly higher and vice versa. Adverts that are non-conforming with the platform’s regulations and may contain vulgar details can be voted out by community members who hold BTCS tokens.
Moreover, the platform has a smart contracting system that contains multiple layers. These layers can support any programming language style that includes low- and high-level languages. Unlike Ethereum, which mainly supports Solidity, Bitcoin Spark will allow blockchain developers to generate decentralized applications using programming languages such as Solidity and Vyper or any other high-level language that is EVM compatible.
The parallel layer, Rust contracts, can be implemented and incorporated to speed up handling transactions on the predominant Bitcoin Spark network. Blockchain newbies and participants should be amazed as the new platform is currently in the third phase of the initial coin offering. Unlike other upcoming projects, BTCS is offered at a cheaper price of $2 each.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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