Binance Smart Chain and Fantom are staring at a new contender challenging their status quo. Bitcoin Spark, with its innovative approach and ambitious goals, introduces unmatched disruption in the blockchain space. Let’s explore the features and potential of Bitcoin Spark and how its features shine against established platforms like BNB Chain and Fantom crypto.
BNB Chain, previously Binance Smart Chain (BSC), is a blockchain network created by Binance. BSC relies on a proof-of-stake (PoS) consensus, allowing users to stake BNB to become validators. BSC is compatible with Ethereum smart contracts and supports dApps and DeFi products, including DEXs and gaming. The BNB platform’s popularity has led to integration with blockchain analytics solutions.
Fantom crypto is a decentralized and open-source Ethereum alternative striving to address scalability, security, and decentralization. As such, it offers lower costs compared to Ethereum. Fantom allows users to create independent blockchain networks and deploy dApps while benefiting from the security and speed of the parent Fantom blockchain. The network operates through the Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake consensus mechanism, ensuring operational efficiency, security, and speed.
Bitcoin Spark is a new Bitcoin alternative crypto seeking to address BTC shortcomings in speed, cost, and scalability. Built on Ethereum, it introduces the concept of smart contracts, and as a Bitcoin fork, it shares similar tokenomics with BTC. Whereas Bitcoin pursues proof of work, Bitcoin Spark uses an all-new blockchain technology called “Proof-Of-Process” (PoP). The network uses a unique combination of proof-of-work and proof-of-stake concepts. The PoP system incentivizes miners (validators) for block confirmation and processing power contribution for computational tasks. Block confirmation requires relatively low work and power consumption. Rewards are algorithmically calculated with a focus on processing power and stake size. The rewards decrease exponentially to prevent centralization.
The Bitcoin Spark Application aims to achieve two main goals: fair mining rewards distribution regardless of computational power and utilization of ‘proof-of-work’ by renting out mining device processing power to individuals and companies. It rents out processing power without storing data outside of RAM. The fees generated are distributed to mining pools, ensuring a stable and sustained reward system. The team plans to develop a user-friendly mining program for various platforms, including iOS, Mac OS, Linux, Android, and Windows.
Bitcoin Spark allows users to contribute processing power to the network through an app operating in a virtual environment. The app deploys limited mining capabilities to prevent excessive resource usage. While it requires higher-level device permissions for resource management, it does not allow access to media files or phone capabilities. This virtual environment ensures noninterference with other device processes or local files. The Bitcoin Spark application comprises a rewards calculator for validators to assess profitability before participating in the network consensus.
Bitcoin Spark introduces additional revenue sources for network participants to incentivize adoption. These revenue sources include decentralized CPU ‘rental’ and advertising space within the Bitcoin Spark application and website. For processing power rental, users will pay BTCS, which will contribute to mining rewards and extend the BTCS rewards minting.
Bitcoin Spark will kickstart ICO phase one on Aug 1 at $1.50 per BTCS token. ICO holders get bonuses of 20% for investing early and stand to reap benefits of 800% on launch at $10. So, you can imagine being able to buy Bitcoin when it was only 1$. Bitcoin Spark gives you that opportunity.
Follow the below links for more:
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.
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.
We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
© 2023 NewsBTC. All Rights Reserved.
© 2023 NewsBTC. All Rights Reserved.