The virtual currency ecology is classified by its volatility from time to time. However, investors find the feature more captivating, seeking new projects to drop their capital for potential gains. For instance, Ripple’s XRP project surged after its blossoming in 2017. However, the feuds with law enforcement have made the platform crumble. Bitcoin Spark is another project that has critical solutions for decentralized communities, leading to a positive deviation in the industry.
XRP Lawsuit Details its Development
In 2020, the US Security and exchange commission accused Ripple of selling XRP as an unregistered security. The case caused Ripple’s XRP to surge after Ripple Labs won a section of the trial. The crypto project, however, fell during the virtual currency bear market causing investors to withdraw their assets. The crypto market has slightly corrected but is picking up pace as the new project (Bitcoin Spark) takes over the industry.
Bitcoin Spark Innovates New Models of Earning in DeFi
The Web3 ecosystem has witnessed upcoming projects that have significantly rewarded early adopters and investors. The new entrant, Bitcoin Spark, will create chances for miners, holders and stakers to generate income in the Web3 arena. The project uses a state-of-art mechanism called proof-of-process, that combines PoW and PoS to perform community tasks and validate transactions on its network.
Bitcoin is one of the largest cryptocurrencies in the world that has aided in the development of decentralized finance. However, the network needs to improve on the challenges it faces as a first generation blockchain. This includes lower scalability, a lack of smart contract layers, and high transaction cost. Bitcoin Spark will decrease the time per Block to increase the transaction speed. Increasing the TPS will promote a decrease in transaction costs, hence making it affordable to retail investors. Moreover, the project will transition to a gasless network.
Vital Block and Contract Wolf have audited the project to promote transparency and trust with the community members. Unlike Bitcoin, where mining is centralized, the platform will provide processing power to individuals who want to participate in mining. These small-scale miners will need to have an electric hand-held device with access to the internet to partake in mining. This will promote building new blocks and enhance the network’s security. The mining process has not yet begun. However, the mining applications will close at beta release on the second stage of the roadmap.
Furthermore, the project has an RPC model where any concerned provider gives out two streams simultaneously. As the Bitcoin Spark official application is the only available wallet on mainnet release, the improvement will need a specialized wallet capacity to communicate simultaneously with various layers. The RPC model will help the community members to check data on the decentralized ecosystem as well as execute transactions.
The project’s BTCS tokens are currently available on presale at a discounted price of $1.50 per token. Each purchase is eligible for a corresponding 20% bonus issued by the team to investors for their early participation. All funds invested during this stage will be worth 800% more when the ICO phase comes to an end at a launch price of $10 on November 30th.
Conclusion
Blockchain technology needs projects such as Bitcoin Spark to develop and attract various participants globally and promote intense decentralization. The platform has a complete roadmap containing details from the start to the launch and finally the achievement of its objectives. In addition, Bitcoin Spark has a strategic marketing plan that seeks to promote BTCS’s surge during the incoming bull run. The platform has also commenced its ICO, which indicates signs of a futuristic outburst.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
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