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Positivity in the crypto market quickly peaked due to previously applied Bitcoin Exchange Traded Funds by major pro-crypto investment organization Black Rock. However, the frenzy quickly dwindled, sending the market into bearish trends as investors cashed out $55 million in less than a week. The shockwave had a ripple effect on the entire market seeing digital asset prices drop significantly to monthly lows. However, experts believe this is just a correction, and Ethereum, Bitcoin Spark, and Fantom could explode in the coming days.
What is a Bitcoin ETF?
A Bitcoin ETF is a Bitcoin Exchange Traded Fund that simulates futures to draw prices of Bitcoin’s performance. These ETF shares are available daily, allowing diverse traders to alter their portfolios for tax benefits. The Bitcoin ETF will converge with the underlying price of BTC, where one BTC ETF share will fluctuate in response to the market value of Bitcoin at a given time.
Fantom and Ethereum Rival
Fantom and Ethereum are among the top-performing crypto assets. They are smart contracting platforms that allow developers to deploy and generate smart contracts as well as build decentralized applications. While Ethereum uses the proof-of-stake consensus mechanism, Fantom capitalizes on its Lachesis consensus method. Fantom’s native cryptocurrency is FTM, while Ethereum’s native digital asset is ETH. Both platforms aim to promote decentralization in DeFi.
Bitcoin Spark is the Future of DeFi
Suitable investments are made during tough times. As the markets scramble in response to dwindling ETF hopes, the new Bitcoin Spark project is catching the eyes of netizens and crypto lovers. Bitcoin Spark is a hard fork currently being developed to top other Bitcoin alternatives. The project aims to provide solutions to the DeFi arena associated with top blockchain networks, including Bitcoin and Ethereum.
Bitcoin Spark aims to provide value to DeFi participants by distributing mining rewards in a standard manner as well as ensuring electricity is conserved by renting out computational power to virtual players. The project will incorporate the proof-of-process consensus methodology to reach the objectives. The proof-of-process is a mix of proof-of-work and proof-of-stake, the two most used validation methods in the crypto ecosystem. This means that the network will have miners and validators manning the network.
Additionally, the team will incorporate an algorithm to oversee the standardized rewards delegation to miners and validators. This algorithm will ensure validation rewards are distributed proportionately to both network participants. The team is creating mining applications for Windows, Android, Mac OS, and iOS devices to increase the number of miners in the network.
The increased miners will ensure the chances of a 51% attack remain low as a precaution from the centralization witnessed by miners in the Bitcoin network. The mining program will also reduce the entry barrier, and anyone with a smart device can start mining BTCS tokens in the comfort of their homes.
Bitcoin Spark is currently on presale. The project is in its third ICO phase, and each BTCS token is going for $2. For everyone who buys BTCS during this stage, the team is allocating a 12% bonus to show gratitude to community members for their early adoption.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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