The crypto market has been around since Bitcoin, the first digital asset, was introduced in 2009. The project has seen massive success recently, reaching highs of $69k per Bitcoin in the last bull cycle. However, two unique projects, Cardano and Bitcoin Spark, are challenging the status quo with intentions to reshape the entire blockchain arena with improved technology and solutions to the Bitcoin network. Although Cardano and Bitcoin Spark have different functionalities in the crypto ecosphere, the duo has immense potential to change the working dynamics of blockchain technology through improved technology and advanced mechanisms.
Is Cardano a good investment?
Cardano is among the fastest-growing blockchain-powered ecosystems with improved scalability and high transaction speeds. The network’s native digital asset is ADA, the network’s utility token. The platform functions in the proof-of-stake consensus mechanism, making it highly efficient, scalable, and faster transaction speed than Bitcoin. Netizens and crypto enthusiasts have strongly criticized Cardano for poor roadmap delivery, inhibiting the project’s growth.
Will Bitcoin Spark outshine Cardano?
Bitcoin Spark is the most outstanding alternative out of the 100+ projects. The project uses a validation system called the proof of process mechanism that amalgamates the traditional proof of work consensus and the adaptive proof of stake consensus. The two are blended with smart technology algorithms that oversee the linear distribution of network participation rewards for miners and stakers.
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! Unlike the Bitcoin network, the proof of process consensus requires less power and energy input. Although the consensus mechanism has both staking and mining features, the reward distribution is skewed more towards the provision of processing power, which is the “work” aspect of mining activities. Rewards for additional power and stake size reduce significantly so that centralization is discouraged on the network.
Compared to Bitcoin mining, which wastes energy, Bitcoin Spark uses energy by generating processing power rented out to individuals, companies, and organizations carrying out hefty virtual assignments and complex tasks. The Bitcoin Spark network is less complex and extremely lightweight, but not in a way that compromises security. The network’s developers have worked to reduce the network participating entry barriers found in other resource-heavy networks like Bitcoin and Cardano. For this reason, the network is open to unlimited low-power mining devices that help to reduce the chances of centralization happening and, at the same time, improve the security of the network.
An essential aspect of blockchain-powered projects is transparency and accountability, an attribute of decentralization, especially in finance. For this reason, Bitcoin Spark has undergone comprehensive audits by reputable and renowned auditing platforms Contract Wolf, Cognitos, and Vital Block. The audit consisted of smart contracts and team identity verification (KYC). The audit reports are available online or on the platform’s whitepaper.
Bitcoin Spark is in its initial roadmap stages of development and has a running ICO event currently in the fifth phase. During this phase, each BTCS token is available for investors at a low price of $2.50 and an additional 9% bonus. All investments made before the fifth stage ends will be worth 436% when the project goes live in November. To participate in this exciting platform, buy BTCS tokens today.
Learn more about Bitcoin Spark on:
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.
