Bitcoin Spark (BTCS) has emerged as a captivating alternative investment to more established cryptocurrencies. So, let’s explore the potential of Bitcoin Spark, highlighting its unique attributes and why it is capturing the attention of Shiba Inu (SHIB) and Cardano (ADA) enthusiasts.
What is Shiba Inu?
Shiba Inu (SHIB) is a cryptocurrency that gained popularity for its association with the Shiba Inu dog breed and the broader meme coin space. It was created in August 2020 and currently ranks among the top 20 cryptocurrencies by market cap. Shiba Inu also boasts a large and highly supportive community, the Shibarmy, which has played a crucial role in its adoption. Despite its meme-based origins, the team behind Shiba Inu has been consistently working on upgrading the ecosystem to boost SHIB’s utility. The most recent development is Shibarium, a layer-2 scaling solution for Ethereum.
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! What is Cardano?
Cardano (ADA) is a layer-1 blockchain created by Charles Hoskinson, one of the co-founders of Ethereum. It takes a research-driven approach to development and aims to provide a more secure and scalable infrastructure for developing decentralized applications (DApps) and smart contracts. Cardano utilizes the Proof of Stake (PoS) consensus mechanism, considered more energy-efficient than the Proof-of-Work (PoW) used by Bitcoin. Additionally, Cardano has a multi-layer architecture that separates the settlement and computation layers, making it more adaptable to evolving technology. ADA, Cardano’s native cryptocurrency, is used for staking, transactions, and participating in the network’s governance through voting.
Why is Bitcoin Spark (BTCS) better?
Several cases can be made for why Bitcoin Spark (BTCS) could be a better investment choice. First, the crypto shares some similarities with the original cryptocurrency, having a maximum supply of 21 million. In fact, some analysts suggest Bitcoin Spark is rewriting the history of Bitcoin.
Additionally, the Bitcoin Spark network is capable of handling many transactions per second while maintaining low fees due to its massive number of nodes, low block time, and enhanced individual block transaction capacity.
Bitcoin Spark also has a multi-layered architecture. However, its layered design includes separate smart contract execution systems that all reach finality on the main network. Thus, Bitcoin Spark ensures scalability while promoting the creation of diverse smart contracts and decentralized applications (Dapps) within its network.
One of the most striking features of Bitcoin Spark is its proprietary consensus mechanism, the Proof-of-Process (PoP). The PoP has elements of Proof-of-Work (PoW) and Proof-of-Stake (PoS), requiring users to stake and provide processing power to the network in order for them to validate blocks. Bitcoin Spark combines the PoP with an algorithm that exponentially decreases rewards per additional stake and power to ensure no one can capture network control. Anyone can participate in network validation by simply installing the Bitcoin Spark application and permitting access to their device’s processing unit. The app will be compatible with Windows, Android, iOS, Linux, and Mac OS devices and will automatically adjust itself to the resources it can use on the device. Having many more validators greatly reduces the chances of a single entity becoming too powerful. The team will also make the network’s repository public so that developers can create their own applications.
The validators’ contributed power will be rented out to institutions or individuals requiring significant remote computational power. This provides an additional use case for BTCS, as it will serve as payment for this service. The revenue generated will supplement the BTCS minting rewards. Thus, with the potential for unlimited devices to provide processing power to the network, Bitcoin Spark could evolve into a self-sustaining revenue-generating network that allows its network participants to remain profitable constantly despite market conditions. Bitcoin Spark will also have small unobtrusive slots for community-policied advertisements, where 50% of the revenue will be used to reward network participants.
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.
