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Technology continues to grow as more advancements are generated and discovered. Blockchain technology has provided a safe environment for innovation and technology for decentralization of finance. In this regard, blockchain is the home of decentralization, with projects such as Bitcoin, Bitcoin Spark, and Ethereum spearheading the antithesis of modern-day fractional reserve banking systems. Bitcoin Spark is the newest project pioneering the launch of a new consensus mechanism called proof-of-process.
What is crypto mining?
Crypto mining involves solving complex mathematical equations and algorithms to approve transactions and add new blocks in a proof-of-work blockchain network. Bitcoin is the leading proof-of-work blockchain closely associated with the term ‘crypto mining’ in the crypto ecology. Individuals, groups, or institutions mining cryptocurrencies like Bitcoin are called miners. Bitcoin Spark plans to improve crypto mining through a cutting-edge innovation called proof-of-process.
What are Smart Contracts?
Smart contracts are automated blockchain scripts or lines of code proposing agreement or consensus that run when predetermined conditions are set. These contracts are on selective blockchain networks, including Ethereum and Bitcoin Spark. Smart contracts have formed a revolutionary baseline for scalability, transparency, and interoperability in the DeFi arena. The innovation has also set the pace for blockchain play to earn games, and DeFi protocols and support the new realm of blockchain-based art or non-fungible tokens (NFTs).
What is Bitcoin Spark?
Bitcoin Spark is a new Bitcoin hard fork with revolutionary technology that promotes decentralization by improving the underlying Bitcoin network. Since the platform is a Bitcoin hard fork, it has a maximum token supply of 21 million. Its native crypto asset is BTCS, currently supported on the Ethereum mainnet. The project is expected to launch on November 30th after its ongoing ICO ends, and the team intends to distribute 4 million BTCS tokens during the entire ICO period.
The project is currently in phase 3, which is almost ending. Investors who manage to grab BTCS tokens now will get a discounted price of $2 and a bonus of 12%. Moreover, the amount invested will yield 560% when the project launches, with each BTCS token retailing at $10. Bitcoin Spark is the only Bitcoin hard fork that intends to incorporate advanced smart contracts to improve the network’s scalability. The smart contracts will allow developers to work on decentralized applications.
Bitcoin Spark will capitalize on proof-of-work and proof-of-stake consensus mechanisms to validate transactions and approve blocks newly created on the network. The validation methods will be controlled by an algorithm that fairly distributes mining rewards in BTCS tokens to miners and validators. The proof-of-process is the first validation method to combine proof-of-work and proof-of-stake.
Furthermore, Bitcoin Spark will have multiple execution layers, and RPC providers will feed data to the network from two different data streams. The devs are also working on a unique, interoperable wallet with multiple scaling layers concurrently. Bitcoin Spark is set to be the largest bitcoin alternative, with roaring disruptive modern marketing strategies derived from technology advancements and convenience.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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