Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
According to cryptocurrency enthusiasts, Bitcoin and Ethereum have played a pivotal role in developing blockchain technology. The two crypto projects utilize the proof-of-work (PoW) and proof-of-stake (PoW) consensus mechanisms to maintain security and facilitate transactions. Considered the new entrant, Bitcoin Spark incorporates both mechanisms (PoW and PoS) to offer lower transaction fees and improve scalability and interoperability.
What is Bitcoin Mining?
Bitcoin Mining is the process of generating new blocks by solving intricate mathematical problems which verify transactions in the Bitcoin network. After a successful mining activity, miners then receive new bitcoins as a reward. A network of computers called nodes conducts this process (PoW). Nodes are also responsible for preserving the public record known as the blockchain.
What is Ethereum Staking?
Vitalik Buterin pioneered the development of Ethereum in 2015 to solve Bitcoin’s scalability problems. The platform uses a proof-of-stake consensus mechanism where validators lock their ETH (Ethereum’s native currency) to receive rewards. Moreover, the staking process facilitates processing transactions, storing data, and adding new blocks to the ledger technology to increase security in the ecosystem.
Bitcoin Spark’s Proof-of-Process: Future of Decentralized Technology
Generated in 2009, Bitcoin has played a critical part in attracting several investors in the cryptocurrency ecosystem. However, Bitcoin’s transaction speed of 7 TPS hinders the platform from surging above its all-time high of $68k. The gas fees sometimes are higher than the amount being transacted. Ethereum solved these problems by integrating smart contracts and improving transaction speeds to 30 TPS. However, the Ethereum network still faces challenges such as scalability due to overcrowded decentralized applications.
Bitcoin Spark, a state-of-the-art network, leverages blockchain technology to solve issues embedded in Bitcoin and Ethereum ecosystems. The platform is a cutting-edge digital currency that aims to provide clients with unprecedented scalability and security through its new consensus mechanism known as proof-of-process. Proof-of-process combines PoW and PoS to run Bitcoin Spark’s network. Additionally, users can now have multiple ways of generating revenue in the decentralized ecosystem.
Bitcoin’s Spark native currency, known as BTCS, rewards participants and enables them to conduct transactions in the ecosystem. Like Bitcoin, Bitcoin Spark has similar tokenomics with a total supply of 21 million tokens allocated to mining rewards, public ICO, liquidity and exchanges, and team rewards. The first initial coin offering (ICO) phase will kick off on August 1st, where each BTCS token will sell for only $1.50 as users get a 20% bonus. Additionally, clients will have an 800% profit from all purchases made in the first phase when the project debuts on November 30th.
Mining has become an impediment in Bitcoin’s network due to the high expense of mining equipment and electricity. This has led to centralization in the network, giving large-scale investors 50% power over the smaller investors with lower fiat value. Bitcoin Spark aims to solve this problem by rendering processing power to clients; they only need electrical devices that can access up to 50MBps.
Additionally, Bitcoin Spark utilizes an enhanced marketing plan that involves innovative disruption. The strategy (innovative disruption) aims at disrupting traditional marketing approaches through storytelling, leveraging modern technology, and strategic positioning. The roadmap is clear and precise, as clients can observe the platform’s progress from the first ICO phase towards the launch period.
For more information:
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 NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
