Every year, there is a deep search for crypto projects that have massive potential of erasing the traditional monetary system and contributing to generating more income. Litecoin was developed as a critical element in resolving Bitcoin’s emerging centralization as huge enterprises had taken over half of the network. However, the struggle continues as Bitcoin remains the leading digital currency in the ledger technology.
A new intake has emerged, Bitcoin Spark, which will take over the cryptocurrency industry. The platform has features that can lead to massive adoption and a surge in the cryptocurrency market. The challenge of the best Bitcoin alternative seems to be nearing its endpoint since Bitcoin Spark’s proof-of-process mechanism facilitates more accessible mining and staking activities.
What is Litecoin?
Litecoin is a decentralized blockchain application developed in 2012 by former Google employee Charlie Lee. The platform emanated from Bitcoin due to the emerging issues regarding the centralization in the network’s ecosystem. Charlie believed that large-scale firms had 50% power over Bitcoin. Thus, the digital godfather needed an alternative so that the small-scale participant could gain a portion of the perks provided. The network’s native currency is LTC, which acts as a gas token for the community.
Bitcoin Spark Creates Fresh Start in Crypto Ecosystem
The current wave of emerging projects seeking to replace Bitcoin has created a lot of attention in the decentralized finance ecosystem. It has led to several debates on programs that will replace Bitcoin’s centralization and act towards the network’s limitations to develop a more improved version of the life-changing network.
Therefore, emanated Bitcoin Spark, a groundbreaking platform that will enforce evolution in the decentralized ecosystem. Cognitos and Contract Wolf have audited the platform to improve efficiency and transparency with its community members. Among unique audited aspects were smart contract deployment and Know Your Customer (KYC). The platform’s roadmap is valid evidence of a comprehensive program that seeks to aid individuals embedded in blockchain technology.
The platform has its decentralized application, which has two main goals: making sure the proof-of-process validation mechanism is put into use. Proof-of-process will also verify the utilization of efficient electricity and ensure rewards are given to all participating members as they partake in improving the security of the network.
Proof-of-process blends, proof-of-stake, and proof-of-work to perform operations and rent processing power to organizations and individuals within the ecosystem. A unique functionality of Bitcoin Spark is that data is not kept outside RAM; it’s only the processing power utilized by external devices for conducting tasks such as file coding.
The team behind the platform will seek methods of developing a user-friendly network so that participants with Windows, Linux, Android, OS, and iOS can partake in mining. The software will have an automated regulation of processing power to account for the power used and overheating of devices.
The proof-of-stake and proof-of-work blend mechanism will also facilitate validation and mining mechanisms in the ecosphere. Validators and miners can confirm new blocks, creating new BTCS tokens.
This will enhance stronghold security in the platform. Another incredible strand concerning the new Bitcoin Fork is the lightweight system embedded within the network. This ability allows an increment in validator number while causing a reduction of network overload experienced in other networks. Participants who want to participate in the project can purchase BTCS for $2.25 in the current ICO phase four.
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