The cryptocurrency market has grown significantly to a decentralized international asset class. The platform has attracted millions worldwide with the invention of Bitcoin and Ethereum. The industry has grown to an extent where institutions are looking to join the bandwagon. While apparel brands flock to the NFT arena, investment funds and hedge funds have shown increased interest in the blockchain arena. The most significant event is the multiple filings by investment firms for Bitcoin ETF approval to the SEC, which are yet to be approved. Additionally, investment funds and hedge funds are also investing part of their client’s funds in cryptocurrency projects like Bitcoin Spark.
What is a Crypto Hedge Fund?
A crypto hedge fund is an investment firm that focuses on investing in digital assets such as cryptocurrencies on behalf of clients with the aim of turning a profit from capital gains. Crypto-oriented investment firms also invest in crypto futures as well as provide venture capital and private equity services to blockchain-based crypto start-ups. The intrusion of investment firms in the space has increased the growth rate of blockchain technology through supporting new and existing projects as well as providing liquidity for market makers and market players.
Mid Size Hedge Fund Manager calls for BTCS surge to $200
Bitcoin Spark is an upcoming crypto-powered project that has caught the eyes of venture capitalists, crypto whales, and hedge funds across the globe. The platform’s utility and functionalities make it listed among the top most promising blockchain networks that are likely to reward investors significantly in the imminent bull market.
Thanks to the Bitcoin Spark network, the blockchain arena sees the birth of a new consensus mechanism called proof of process. Proof of process is a unique network verification methodology that combines the functionalities of proof of work found in Bitcoin and proof of stake consensus found in most smart contracting platforms.
What makes Bitcoin Spark a special blockchain-powered project is its ability to deploy smart contracts. Bitcoin Spark network is an open-source network that allows developers and community members to deploy smart contracts and create decentralized applications. This smart contract layer solves one of Bitcoin’s greatest challenges, which is reduced scalability. The developers working on the network will deploy smart contracts in any high or low-end coding EVM-compatible languages. Devs will also have an additional Rust contract deploying layer to facilitate settlement of transactions on the respective network.
The platform has already undergone smart contract auditing from three separate and independent auditing platforms. Bitcoin Spark is undergoing intensive development and has a running ICO phase 5.
During the ongoing phase, each BTCS token will be available at $2.50 and will be accompanied by a bonus of 9% that will be credited to the buyer immediately after the purchase is completed. Investments made during phase 5 will be worth 436% in November when each BTCS retails at $10 during the official launch. Investors will make even more when the token gets listed on various exchanges, and its market cap and trading volume start to increase.
The Bitcoin Spark network will contain multiple execution layers that will concurrently accommodate two data streams from each RPC provider. The network feature prompts the need for a unique wallet designed and developed to handle multiple execution layers. Developers are working on an official Bitcoin Spark wallet, which will be the only wallet of its kind upon official mainnet debut.
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