As the crypto market evolves, it remains an arena of opportunity and transformation, making it essential to stay informed and engaged with the latest trends and developments. That said, Chainlink (LINK) is moving closer to achieving its milestones, while Bitcoin Spark (BTCS) has outpaced Polygon (MATIC). Let’s explore.
What is Chainlink?
Chainlink is a decentralized oracle network bridging the gap between smart contracts on the blockchain and real-world data, enabling these contracts to interact with external information sources, APIs, and payment systems. By doing so, it helps to eliminate the trust issues that can arise from relying solely on on-chain data, contributing to the growth and expansion of the blockchain ecosystem.
Chainlink recently introduced Chainlink Automation 2.0 and Chainlink Functions (Beta) in a move towards its vision of creating a decentralized computing marketplace. Chainlink Automation 2.0 allows developers to seamlessly offload any smart contract computation off-chain, enabling them to automate even the most intricate Web3 use cases and save up to 90% in gas fees. Chainlink Functions will allow smart contracts to access any real-world API in a serverless manner. Developers will be able to access any public or access-controlled API data, AI models, cloud services, and legacy systems to build entirely new types of Web3-enabled applications and experiences.
Polygon (MATIC) price prediction
The Polygon (MATIC) price appears to be locked in a persistent downtrend since its peak in February. At present, MATIC’s fate hinges on its ability to muster bullish momentum and avoid slipping beneath the crucial support level of $0.49. However, technical analysts are casting doubt on this prospect, as the Relative Strength Index (RSI) suggests a deepening bearish sentiment that could potentially trigger a breach of the $0.49 support, extending the 66% decline and ushering in new 15-month lows.
What is Bitcoin Spark?
Bitcoin Spark is an emerging blockchain that seeks to create a self-sustaining ecosystem while solving the limitations of previous blockchain networks. The blockchain uses its proprietary consensus mechanism called the Proof-of-Process (PoP). This groundbreaking mechanism rewards users for validating blocks and contributing their processing power to the network. However, it exponentially diminishes rewards per additional power contributed, creating a fairer distribution system.
Notably, the Bitcoin Spark network has a massive number of nodes. This, combined with the nonlinearity of the PoP rewards, allows for a significantly large number of validators, even those with low-powered devices. In a forward-thinking move, the Bitcoin Spark development team is set to launch an application that will serve as the network’s native wallet and validation software. The app is designed to be secure, user-friendly, and compatible with Windows, Android, iOS, macOS, and Linux devices. This forges a path towards true decentralization.
The power contributed by validators will be efficiently and safely leased through the Bitcoin Spark network to institutions and individuals seeking remote computing power, giving rise to decentralized CPU/GPU renting. The network’s clients will make payments in BTCS, and the generated revenue is then shared among validators.
Additionally, Bitcoin Spark’s application and blockchain explorer will have small spaces for advertisements, which will also be paid for in BTCS and policed by the community to ensure security. Network participants will receive 50% of the revenue generated plus incentives for ad policing.
Going further, Bitcoin Spark provides a robust platform for building and deploying smart contracts and decentralized applications (DApps). Its vast nodes, combined with a low block time and high individual block transaction capabilities, result in fast and cost-efficient transactions for users. The blockchain has a dedicated smart contract layer with multiple execution systems that attain singular network finality, ensuring scalability and support for high-level and low-level programming languages.
BTCS price prediction
BTCS is currently trading at $3, up from $1.50 in Phase 1 of its Initial Coin Offering (ICO). The crypto is set to launch at $10 in November, indicating a further increase of 350%. According to analysts, Bitcoin Spark has significant potential for growth, with a number predicting a 100X. They point to its limited supply of 21 million, innovative technology, real-world applications, low market capitalization, and launch timing as major indicators of massive price increases.
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