Ethereum is one of the most prominent blockchain-powered crypto platforms. The network plays a pivotal role in the development and sustainability of the crypto ecology, supporting upcoming DeFi projects like Bitcoin Spark. The Ethereum network is widely known for its improved infrastructure, especially after transitioning from a proof of work consensus mechanism to an explanation of stake consensus, dumping Bitcoin’s high energy network validation for a greener and less sophisticated network. The Ethereum network is currently powering a crypto start-up’s ICO, which has minted BTCS as ERC-20 tokens to support the ongoing presale. This is how Bitcoin Spark is revolutionizing blockchain technology and cryptographics.
How to stake Ethereum
Ethereum is a proof-of-stake blockchain that powers the deployment of smart contracts. The network also paves the way for third-party developers to create decentralized applications that have played a significant role in advancing and adopting the virtual decentralized economy, forming an antithesis against traditional monetary services. Ethereum staking allows validators to lock their ethereum (ETH), the platform’s native digital currency, in exchange for validator rights to manning the network. The validator rights allow participants to approve network transactions and validate new blocks; in the process, the validators earn ethereum (ETH).
Is Bitcoin Spark bigger than Ethereum?
Bitcoin Spark is an upcoming crypto start-up that uses blockchain technology to solve significant challenges faced by old-generation blockchain users on Ethereum and Bitcoin. The platform promises high transaction speeds, low transaction costs, and cutting-edge technology through a smart contract layer coded in Solidity and Vyper. Bitcoin Spark’s next-generation technology is its consensus mechanism called proof of process that shadows proof of work and proof of stake alongside innovative tech applications and algorithms. The network is the first of its kind, making the Bitcoin Spark network a first market mover.
Bitcoin Spark’s proof of process is wired to narrow down the “work” perspective so that the primary earners are those who do more work on the network. However, the earnings will not be inclined in a centralized manner to mimic Bitcoin mining, whose most mining operations are solemnly controlled by two large Bitcoin mining firms, Antpool and Foundry USA. The unique algorithms in the PoP consensus will promote a non-linear distribution of rewards by standardizing returns according to the “work” done on the network. Bitcoin Spark miners will be compensated in BTCS tokens, the network’s utility token.
The Bitcoin Spark network is a lightweight blockchain that will require less energy to mine. The mining process will be more straightforward than that of Bitcoin, reducing the complexity of the mining devices and thus removing significant mining entry barriers found on the Bitcoin network. Bitcoin mining is expensive to start and requires modern, sophisticated mining nodes.
However, Bitcoin Spark’s low power consumption will allow network participants to mine BTCS tokens using simple electric gadgets such as mobile phones and laptops. The Bitcoin Spark team is developing mining applications running on different devices with different operating systems, including Windows, Mac OS, and iOS.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
