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The decentralized technology is quickly gaining traction due to digital networks such as Solana and Dogecoin. The two digital platforms have been vital in attracting venture capital firms and retail investors to invest in the cryptocurrency ecosystem. As a meme coin, Dogecoin made a significant impact, making individuals in social media invest in the distributed ledger community.
Another crypto startup called Bitcoin Spark will cause an improvement in the digital currency industry. The platform’s mechanism processes will induce new ways of mining, allowing equal distribution of rewards, thus promoting decentralization.
Will Dogecoin recover?
Dogecoin is a meme currency that sparked the crypto industry in 2021. The meme coin surged, making several crypto entrants earn massive profits. Despite the bear market, the digital network is believed to bounce back with the next imminent bull run. Crypto enthusiasts believe Solana can be a good investment as it is ranked among the top cryptocurrencies.
Bitcoin Spark takes over the digital ecosystem
A new project to the decentralized ecosystem is quickly gaining traction by leveraging the distributed ledger to enhance improved scalability, interoperability, transparency, and decentralization. The network utilizes a new consensus mechanism yet to be seen in the blockchain ecosystem, referred to as proof-of-process.
The mechanism blends PoW (proof-of-work) and PoS (proof-of-stake). PoW and PoS are critical processes that help validate new blocks in projects like Ethereum and Bitcoin. Validators and miners who take part in confirming new blocks for the Bitcoin Spark network will be rewarded in the platform’s native token, BTCS.
The platform has a maximum supply of 21 million tokens, similar to the supply of its parent network, Bitcoin. This is because the project is a Bitcoin hard fork. The 21 million tokens have been distributed to mining rewards (16.45 million) and launch supplies (4.55 million). The mining process to generate new BTCS tokens will take validators/ miners 120 years to reach the maximum token supply. The launch supply has been distributed to initial coin offerings (4 million BTCS), pre-network liquidity pools and exchanges (500,000 BTCS), and team tokens (50,000 BTCS).
Bitcoin Spark is currently at phase three of its initial coin offering when each BTCS price peg is $2. Participants are being given a 12% bonus for this phase. Furthermore, community members will have a 560% capital gain for their investment in phase 3 during the launch period taking place on 30th November, when the BTCS price will be $10. Bitcoin Spark has followed the regulations required for security and transparency confirmation as major auditing platforms have audited it: Contract Wolf, Vital Block, and Cognitos.
In addition, the platform has a smart contract layer system compatible with two distinct programming styles: both low-level and high-level languages. Unlike Ethereum, which highly depends on Solidity as the main programming language, Bitcoin Spark will enable smart contract deployment of compatible Ethereum virtual machine (EVM) programming languages such as Vyper and Solidity. It can also be done with any other high-level language compatible with the EVM bytecode.
Bottom line
Smart contracts are pertinent for developing a blockchain network, especially since we are heading to future-generation digital currency platforms. Bitcoin Spark has a unique mechanism that supports the integration of smart contracting layers. The smart contract layer enables blockchain developers to generate decentralized applications using any programming language. The project’s roadmap is well explained, as a crypto newbie can easily comprehend the different development stages.
Find out more about Bitcoin Spark on:-
Website: https://bitcoinspark.org/
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