Grayscale, a leading crypto asset manager, has won a filing against the US Security Exchange Commission over the application of commencing spot Bitcoin ETF. The court ruled in favor of the digital currency firm. The court stated that introducing the Bitcoin ETF would expose investors to the crypto industry without owning it. This is appealing news for the decentralized ecosystem as it could lead to a surge in projects such as Ethereum and Bitcoin Spark. Bitcoin Spark is regarded as the imminent replacement for Bitcoin as it solves impediments based on blockchain technology.
What is Grayscale?
Bitcoin ETF is a financial instrument that can be traded without owning the actual digital asset whose value is purely based on the price of bitcoin. Grayscale Bitcoin Trust offers investors the prospect of BTC as an investment while bypassing the difficulties of purchasing, storing, and safeguarding the digital currency firsthand. It is entirely and proactively engaged in BTC.
Is a Bitcoin ETF coming soon?
The question entailing the commencement of Bitcoin ETF has occurred for several years. Investors wanted an opportunity to explore the crypto environment without directly purchasing a single virtual currency such as BTC. There are hopes as Grayscale, among the leading asset managers globally, has won a case against the SEC to host BTC Exchange-traded funds.
Bitcoin Spark Could Have Surge Amid Grayscale Win
Grayscale’s win against the US Securities and Exchange Commission (SEC) can lead to massive development for the new project, Bitcoin Spark. Despite being in the early phases of its presale (phase 4), the platform has already lured crypto whales, venture capitalists, and individual investors into its ecosystem.
Ethereum whales have reportedly invested in the project, depicting a potential surge in the coming future. As a future-generation network, Bitcoin Spark has already been audited by comprehensive and prominent audit companies Vital Block and Contract Wolf. An audit is critical for an upcoming digital platform because it indicates the trust and transparency of the network to its community members.
The gas token for the ecosystem is BTCS. Users can transact on the platform with BTCS, and the gas fee will head to the validators. Validators are highly encouraged in the network as they confirm new blocks and provide processing power to the network, which can be lent out. The computational power is used by external organizations and individuals for tasks involving video coding and solving intricate computational equations.
Unlike other heavy networks such as Bitcoin, Bitcoin Spark is a lightweight platform that allows lower-powered devices to run on the web. This creates a vast opportunity for validators to join the ecosystem, hence improving security in the project. Validation or mining will be conducted in Bitcoin Spark’s application. Nonetheless, mining can occur in external or third-party applications when the project reaches the market.
The third-generation cryptocurrency networks are projected to have smart contracts embedded within their systems. Smart contracts are pivotal to a decentralized network as they conduct automatic execution of transactions. The Bitcoin Spark network has smart contract layers that run through its systems, enabling the utilization of compatible high-level or low-level languages.
The smart contract layers also would allow developers to generate new applications (DApps) using EVM-compatible programming languages such as Solidity and Vyper or any other high-level language. A parallel layer will allow contract rust. This mechanism enables the deployment of various programming and smart contract styles, promoting a wide variety of innovations within the network.
Learn more about Bitcoin Spark on:
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.