The cryptocurrency industry has lured millions of users worldwide who have joined the bandwagon despite its reasonably new technology. It is estimated that almost half a billion people actively use cryptocurrencies as part of their financial operations. While some users are fascinated by the functionality of blockchain and seek decentralization, most participants who enter the industry are attracted to the potential massive gains the digital assets offer. A well-developed strategy is detrimental when building a crypto empire. The plan needs to involve eying projects before they explode. Some of the projects that are likely to form a good baseline for investors include Bitcoin Spark, XRP and Solana.
What is Ripple (XRP)?
In recent months, the demand for Ripple’s XRP has been off the roof, ranking it ahead of prominent cryptocurrency platforms such as Solana. XRP is the native digital asset of Ripple, which was developed intentionally to offer a faster and cheaper alternative cross-border payment system than SWIFT for institutions. Ripple reaches transaction finality much faster than SWIFT, offering higher transaction speeds than the competition. Instead of a consensus mechanism used by most crypto projects, Ripple capitalizes on a consensus protocol that confirms transactions in the ecosystem.
What is Solana (SOL)?
Solana is a fast blockchain that offers a decentralized, cheap smart contract platform for deploying decentralized applications. Its most prominent attraction that draws more users is the platform’s incredible transaction speeds, which have been speculated to reach 65,000 transactions per second. Solana uses proof of stake’s variation consensus called proof of history to manage network activities, including block validation and transaction finality. Additionally, the platform’s fame also grew alongside that of Ethereum with the previous trend of non-fungible tokens (NFTs). Solana gave its users a platform to mint and trade NFTs and incorporated one of the largest NFT marketplaces, Corak Cube.
The Bitcoin Spark mining application
Bitcoin Spark strives to be the top crypto alternative and among the top cryptocurrency platforms in the DeFi ecosystem. With a next-generation consensus mechanism, an inbuilt reward allocation system and a revenue-generation strategic plan, Bitcoin Spark stands out among other DeFi protocols.
The platform’s network validation mechanism, proof-of-process, combines mining and staking. However, these two systems will work independently to give network participants multiple chances of earning passive income. Upon official network debut, the mining process will be the most lucrative network activity running on a software application developed by Bitcoin Spark developers in partnership with a third-party application developing organization.
The application will be linked to the mainnet’s audited smart contract to allow users to conduct on-chain activities that involve initiating asset transfers, mining activities, storage of digital assets and calculations of earnings. The application will be developed in an interoperable way that connects all mining devices to mediate on-chain information transfer. The application will also tap the device’s idle processing power during the mining process, which will happen in the mining device’s background without interrupting the device’s expected usage.
The application will also include functionality that allows the miner to select the required performance depending on the use of the mining device. When the owner needs the device’s help, the mining performance may be reduced to 30% to ensure efficient multitasking.
When the network is under minimum utilization, the miner can set the performance to 90% to capitalize on the single task at hand, increasing the gains the platform yields in the long run. The application will also house a rewards calculator tool that will give accurate algorithmic calculations on the potential rewards users will likely get before they even begin mining the network. The multi-purpose software application is Bitcoin Spark’s initial step to improve Web3 technology.
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