Those Bullish on Bitcoin’s Concept are Piling in for Bitcoin Spark

Over the years, Bitcoin (BTC) has garnered a massive following of proponents who see it as a revolutionary form of money and a hedge against inflation. Those bullish on Bitcoin’s concept are piling in for Bitcoin Spark (BTCS) due to its improvement on it.

What is Bitcoin?

Bitcoin is the first-ever cryptocurrency. The mysterious Satoshi Nakamoto released the Bitcoin Whitepaper on October 31, 2008. It outlined the technical details and principles behind the groundbreaking cryptocurrency. It described Bitcoin (BTC) as a digital alternative to traditional fiat currencies, with a focus on solving the double-spending problem.

The whitepaper proposed a solution in the form of a decentralized ledger (the blockchain), where transactions are grouped into blocks and linked together in chronological order. This introduced the concept of Proof-of-Work (PoW), a consensus mechanism where participants (miners) solve complex mathematical puzzles to validate transactions. The miners are in turn, rewarded with newly minted BTC, which has a fixed supply of 21 million. This innovative technology laid the groundwork for the entire cryptocurrency ecosystem, which has since greatly evolved.

What is Bitcoin Spark?

Bitcoin Spark is the latest Bitcoin fork. Unlike most forks, which are essentially replicas of their previous network, Bitcoin Spark has made significant changes that set it on its path. It solves its predecessors’ limitations and brings forth a new generation of cryptocurrency. 

The Bitcoin Spark blockchain has a reduced block time, increased transaction capabilities per block, and a substantially higher number of nodes. These improvements lead to faster and cheaper transactions when compared to Bitcoin. Besides, they have positioned Bitcoin Spark as a more compelling alternative for day-to-day and small crypto transactions. 

The Bitcoin network’s sole purpose is to serve as a peer-to-peer electronic cash system, allowing users to send and receive digital payments directly without the need for intermediaries. Bitcoin Spark transcends this by seamlessly integrating a smart contract layer with separate execution systems that all reach finality on the main network. Bitcoin Spark’s multi-layered design ensures scalability and promotes diversity by allowing developers to use a variety of high-level and low-level programming languages for building smart contracts and decentralized applications (Dapps).

BTCS has a fixed supply of 21 million BTCS, just like Bitcoin, making it a suitable wealth store. However, BTCS’s utility extends beyond this. The Bitcoin Spark network relies on its unique consensus mechanism, which became popular as the Proof-of-Process (PoP) mechanism. This consensus system pleases miners by offering rewards for validating transactions and contributing their processing power. 

Users must understand that Bitcoin Spark does not offer linear rewards for solving the hash a. In other words, a 2x higher hash rate will not result in 2x the rewards because the PoP is combined with an algorithm that reduces rewards per additional power. It ensures a fairer rewards distribution, which, combined with the network’s massive nodes, will allow even those with low-powered devices to profitably mine BTCS. 

The Bitcoin Spark team will provide a mining application compatible with Windows, Mac OS, Linux, iOS, and Android devices, which will allow users to mine by simply permitting access to their device’s processing unit. The app will create a virtual working environment separate from the device’s operating system functions to ensure security. It will also regularly adjust the power used to account for overheating, battery life, and concurrent device usage needs. 

Bitcoin Spark’s approach solves the issues associated with the Bitcoin mining process by making it simple, energy-efficient, and open to anyone.

Notably, the miners’ contributed power will be ‘rented out’ to individuals or organizations requiring remote computing resources, with payment done using BTCS. Revenue generated is then transferred to the mining pool as mining rewards. The BTCS minting rewards run on an elastic system, factoring in the revenue generated within the network. If more revenue is earned, the BTCS minting is reduced proportionally, moving the endpoint further. This means that BTCS miners will remain profitable even in the long term.

Furthermore, Bitcoin Spark’s application and blockchain explorer will have unobtrusive spaces for community-policied advertisements, which will be paid for in BTCS. It provides another real-world application for Bitcoin Spark, one in tune with the growing marketing industry. 

The Bitcoin Spark Initial Coin Offering (ICO) has received massive investments and endorsements from reputable crypto watchers. The ICO is in Phase 5, selling BTCS at $2.50 and offering a 9% bonus.

For more on Bitcoin Spark:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

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