Bitcoin was established to offer an alternative currency to the conventional fiat currencies offered by governments and banking institutions.
The project immediately became an instant success as more users got attracted to decentralization. Post-2013, many started to view Bitcoin as an investment vehicle that generates capital gains rather than the digital currency it was established to be. However, the digital asset is massively used across the globe.
Many merchants now accept cryptocurrencies as payment for their goods and services. This massive leap forward toward mainstream crypto adoption gives hope to early adopters of Bitcoin Spark, Chia, and Gold.
What is Bitcoin Spark?
Like Bitcoin, Bitcoin Spark is a decentralized blockchain offering an alternative network and digital asset that can be used as a virtual currency and investment opportunity. The platform is in the seedling stages of development and is yet to launch its proposed high-performance smart contracting platform to Web3 users. Bitcoin Spark has an ongoing presale, and the native digital asset of the platform is selling for $3 to enterprising investors. The presale price is for the current ICO phase 7, which will increase at the start of phase 8.
Bitcoin Spark’s special features are housed on its incoming network. Upon mainnet release, the Bitcoin Spark network will house increased transaction speeds by offering decreased block generation time and increased block capacity. The network will also charge reduced transaction speeds through the increased number of node operators and reduced operating costs.
The Bitcoin Spark ecosystem will signal the gateway to decentralized mining through the Bitcoin Spark mining application. Bitcoin Spark’s network is lightweight and less cumbersome, unlike its parent blockchain, Bitcoin. The platform is pioneering a new consensus mechanism that hosts miners and stakers in the same network.
With increased additional features and advanced technological reforms, the Bitcoin Spark network will be minable through a software application for different devices powered by different operating systems, including iOS devices, Android, Linux, and Windows, common in common electronic gadgets like mobile phones and tablets.
The mining process will occur in these devices, allowing individuals to mine remotely without sophisticated mining machinery, high energy, and an outrageous amount of initial capital to start, as with Bitcoin. The network opens up mining to millions of node operators worldwide, making the network more secure and less susceptible to a possible 51% attack.
How Does Chia Affect Market Momentum
Like Bitcoin Spark, Chia is a new crypto project pioneered recently. The Chia platform was developed in 2021 by Bram Cohen, the founder of BitTorrent, a popular crypto asset that supports decentralized applications (DApps) and protocols.
Chia uses a system called proof of space and time where users provide a specific size of hard drive space without consuming a lot of electricity. While the ecosystem does not promote the surge in graphics card prices, its hard drive space leads to other drawbacks like insufficient device space.
Why is Bitcoin Gold Growing?
Bitcoin Gold is a Bitcoin hard fork that went live in 2017 to make Bitcoin more decentralized again. The Bitcoin Gold developers focused on the counterintuitive aspect of Bitcoin’s mining process being centralized. The developers introduced a new variant of the proof of work consensus mechanism called Equihash-BTG, which introduced a special algorithm set to decentralized mining operations and prevent chances of a 51% attack from happening. The platform, however, lacks other utilities, making Bitcoin Spark the best alternative.
Learn more about Bitcoin Spark on:
Visit BTCS Presale: https://network.bitcoinspark.org/register
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