Bitcoin Spark (BTCS) has undoubtedly emerged as a notable contender in the crypto space, winning not only investments but also the hearts of the community with its unique approach.
What is Bitcoin Spark?
Bitcoin Spark is a new crypto project that seeks to become a self-sustaining and revenue-generating network with constantly profitable participants. As a Bitcoin fork, Bitcoin Spark shares a fundamental characteristic with Bitcoin (BTC), having a limited supply of 21 million BTCS coins. However, the Bitcoin Spark is not a mere replica of its predecessor, as it has made many significant changes to reach its end goal.
The Bitcoin Spark blockchain has a high individual block transaction capacity, a short block time, and a massive number of nodes. This results in faster and more cost-efficient transactions for users.
Additionally, Bitcoin Spark’s infrastructure has multiple layers that reach singular network finality, ensuring scalability and versatility. The layered design includes a smart contract layer with multiple execution systems, which allow developers to use a wide range of popular high-level and low-level programming languages. The robustness of the network suggests that BTCS users will gain access to diverse smart contracts and decentralized applications (DApps).
The feature that has captured the most attention is Bitcoin Spark’s Proof-of-Process (PoP) consensus mechanism, a cross of Proof-of-Work (PoW) and Proof-of-Stake (PoS) elements. This mold-breaking mechanism requires users to provide processing power to the network for them to validate transactions and earn rewards. However, the PoP exponentially reduces rewards per additional power, promoting a fairer distribution of rewards. Notably, the nonlinearity of PoP’s rewards combined with the network’s massive nodes will enable even those with lower-powered devices to participate in network validation, promoting true decentralization. The Bitcoin Spark team is set to launch a network validation app that will also serve as the network’s native wallet. The Bitcoin Spark application will be safe, lightweight, easy to use, and compatible with a range of operating systems, including Windows, Mac OS, iOS, and Android.
The power contributed by validators will then be rented out effectively and affordably to organizations and individuals in need of remote computing resources through Bitcoin Spark. The clients will be required to pay using BTCS, providing a unique and real-world use for the crypto. 97% of the generated revenue will go to network validators, in addition to newly minted BTCS and transaction fees for confirming blocks. This provides a novel way to reward network participants in the blockchain world. The remaining 3% will go to the team for income, maintenance, and development, ensuring a sustainable ecosystem.
Furthermore, Bitcoin Spark’s application and website will have small spaces for advertisements, where advertisers will also pay using BTCS. This integrates the Bitcoin Spark ecosystem with the booming marketing industry to create income for its participants and development team. Anyone holding BTCS will be able to participate in and be incentivized for community policing of the ads. This upholds decentralization and ensures the security of the advertising system. The revenue generated from the ads will then be split 50/50 between the validators and the team.
The Bitcoin Spark Initial Coin Offering (ICO)
The Bitcoin Spark ICO started on 1st August and has already received more than $2,000,000 in investments. The ICO has seen notable purchases from crypto whales and positive assessments from crypto analysts. The Bitcoin Spark team has shown commitment to significantly rewarding its participants. The first phase had BTCS selling at $1.50 and offering a 20% bonus. BTCS is currently priced at $2.75 in Phase 6, with an 8%bonus. Its ICO also offers participants avenues of getting additional BTCS tokens through extra bonuses, games, and more. Notably, the crypto will launch at $10, suggesting an 800% increase for Phase 1 investors and 393% for investors at the current level.
For more information on Bitcoin Spark and its ICO:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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Source: https://www.thecoinrepublic.com/2023/10/08/winning-hearts-and-investments-with-bitcoin-sparks-unique-approach/