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Mining is an important aspect of ecosystems such as Bitcoin and Bitcoin Spark. The notion behind mining lies in various perks; miners receive rewards after confirming a new block. Mining also improves the network’s security systems while maintaining decentralization. Bitcoin is the earliest cryptocurrency that commenced virtual mining activities for blockchain networks.
However, the practice faces barriers, including expensive mining equipment and high electricity costs accumulating when mining Bitcoin. A new groundbreaking and solid platform called Bitcoin Spark has emerged, promising to change the mining game. Bitcoin Spark will create a new dawn for digital currency participants to earn income through validating transactions with a new mechanism called proof-of-process.
How To Mine BTCS
BTCS is a native token of the imminent cryptocurrency platform Bitcoin Spark. The new digital network has a derogatory aim with blockchain technology. Mining BTCS is relatively easy compared to other heavyweight networks.
Validators on the Bitcoin Spark network are rewarded linearly on the number of stakes; however, the more the stakes, the more the rewards. Additionally, processing power produced in mining is used by other participants in projects such as video rendering. The platform utilizes a new proof-of-process mechanism that combines miners and staking validators in the same network.
Bitcoin Spark Will Outshine Ancient BTC
Bitcoin alternatives such as Ethereum have emerged and are yet to secure some beneficial features that will promote efficiency in ledger technology. From time to time, natives in blockchain seek upcoming projects that play a pivotal role in developing the ledger system. The new platform, Bitcoin Spark, will revolutionize the entire niche with its latest validating mechanism, proof-of-process.
Moreover, the digital network is arguably taking over the virtual currency industry even though it is in its early development stages. The project is in the final touches of phase three in the ongoing initial coin offering. The token’s price is only $2 in the current phase but is set to increase when phase 4 begins. Investors who join the bandwagon are assured of security as the platform’s KYC and smart contract have been audited by comprehensive auditing companies, Vital Block, Contract Wolf and Cognitos.
Proof-of-process is a new consensus mechanism that amalgamates proof-of-stake and proof-of-work. Validators and miners get to generate new blocks, which leads to improved security in the ecosystem. These validators are also rewarded for providing processing power to the network. The processing power is then utilized by external firms and individuals within the community for intricate tasks such as film rendering and solving computational equations.
In addition, the validator’s reward is determined algorithmically, with a processing power-heavy weighting by a special technology blueprint. Validators can track the profitability in the network before commencing the confirmation process via a reward calculator found online on the platform’s website and software applications.
Bitcoin Spark has four layers that take part in the new algorithm: The execution layer, where block creation takes place; the consensus layer, which creates an agreement between all validators. The Mining layer facilitates processing power, overruling the network, and the Rewards layer takes charge of the reward.
In the crypto industry, projects with roadmaps showcasing their developments are set to accumulate a lot of traction when capturing entrepreneurs’ attention. Therefore, the Bitcoin Spark team developed a strategic, well-organized, and detailed roadmap containing developmental phases (phase 1 to post-launch). The Bitcoin Spark network is a lightweight platform that allows validators to confirm transactions; hence, lower-powered devices can run on the network, unlike other platforms that waste energy.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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