Arbitrum (ARB) and Bitcoin Spark (BTCS) have gained significant recognition in the crypto community, and investors are looking at them as a power duo in cryptocurrency investments.
What is Arbitrum?
Arbitrum is a Layer-2 scaling solution for the Ethereum blockchain. It processes transactions off the Ethereum mainnet through Optimistic Rollup technology, significantly boosting scalability and reducing transaction fees. Arbitrum is highly regarded for its compatibility with existing Ethereum smart contracts, making it an appealing choice for those seeking to improve their Ethereum-based applications and decentralized services.
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To add Arbitrum to your MetaMask wallet, click on the dropdown menu, which displays the currently selected network (usually Ethereum Mainnet), and then click “Add network”. A list of popular networks will appear; click the “Add” button that appears after Arbitrum One, then click “Approve”. You will have added Arbitrum to your Metamask wallet. You can also do this by clicking on “Add a network manually” after opening the dropdown menu. Here you’ll be required to add several details, including the network name, the ChainID, and the block explorer URL. Once you’re done, click “Save”, and that’s it.
What is Bitcoin Spark?
Bitcoin Spark has been termed the pioneer of the next generation of cryptocurrency. This Bitcoin fork, while maintaining the best characteristics of its predecessor, has made significant improvements to solve its limitations and introduce new concepts to the blockchain ecosystem.
Bitcoin Spark is capable of handling many transactions per second while maintaining low fees due to its increased individual transaction capacity per block, reduced block time, and massive number of nodes. Additionally, the network will have a layered smart contract execution system compatible with different programming styles. Developers will be able to use Rust, Solidity, Vyper, and all high-level programming languages compilable to EMM-bytecode. This approach ensures the diversity of smart contracts and decentralized applications on the platform while ensuring scalability.
Notably, Bitcoin Spark introduces the concept of profitable crypto mining for all. The network achieves this through its native application and innovative consensus mechanism, the Proof-of-Process (PoP). The PoP rewards miners for confirming blocks and renting out the processing power of their mining devices. The Bitcoin Spark application will enable anyone with an iOS, Android, Windows, Linux, or Mac OS device to mine by installing it and permitting access to their device’s processing unit. This app creates a virtual environment that doesn’t interact or interfere with any other part of the device. Miners will be able to select the number of device resources permitted for mining use, although the app can automatically adjust the resources to account for overheating, battery, and simultaneous usage requirements. This approach greatly reduces the work and power required for mining. The double benefit of a higher number of individual miners is that it greatly decreases the chances of a single miner becoming too powerful, increasing security and promoting true decentralization.
Bitcoin Spark is currently built on Ethereum, thus beginning as an ERC-20 token before moving to its native coin after launch. This enables exposure and simpler integration during the initial launch phase before native network BTCS withdrawals can be enabled since ERC-20 is significantly faster to integrate for deposits and withdrawals. Additionally, a bridge will be set up for those wishing to participate in Bitcoin Spark before native withdrawals are integrated into exchanges.
After moving to its native blockchain, Bitcoin Spark (BTCS) will no longer be compatible with EVM wallets such as Metamask. However, the comprehensive Bitcoin Spark application will also function as a network wallet, providing a fantastic alternative solution for BTCS users and holders. Additionally, users desiring to hold BTCS in a wallet such as Metamask can do so via the wrapped BTCS on Ethereum.
The Bitcoin Spark Initial coin offering (ICO) offers investors a chance to get BTCS before it hits the open market. BTCS is currently selling at $1.75 in Phase 2, with investors getting a 15% bonus and a 657% increase in investments by the end of the ICO.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website.
