Solana has gained popularity for its ability to handle thousands of transactions per second (TPS). However, a pivotal shift in focus is emerging with Bitcoin Spark. This new project has taken the spotlight due to its innovative features, more so its functional background product.
Amidst the prevailing uncertainties in the cryptocurrency market, Solana (SOL) is currently maintaining support at around $22.4. Over the past three weeks, the SOL price has demonstrated resilience by rebounding twice from this critical support level, a clear sign of ongoing accumulation by market participants. A more detailed analysis of the daily time frame chart suggests this reversal signals the emergence of a bullish double-bottom pattern. This pattern is frequently observed at market bottoms and bolsters buyers for a sustainable rally.
Bitcoin Spark: The next generation of crypto
Bitcoin Spark (BTCS) is a new project on the Ethereum blockchain that seeks to become a self-sustaining revenue-generating network that enables its participants to remain profitable constantly while maintaining a limited supply.
The Bitcoin fork achieves this goal through various innovative strategies. First, it uses the Proof-of-Process consensus algorithm, a proprietary one and rewards miners for confirming blocks and providing processing power of mining devices to the network. The second part is that the project’s team will create a user-friendly mining application that allows users to mine by permitting access to their device’s processing unit. The Bitcoin Spark application will be compatible with Windows, Android, iOS, Linux, and Mac Os devices, and it will limit itself to the processing power it uses, factoring in battery, overheating and simultaneous usage requirements. This approach ensures that anyone with a smart device can mine BTCS.
The processing power provided by miners is rented out to individuals or institutions that require computational power for high CPU/GPU load tasks like large-scale video rendering and operating shared resource servers. Those that use the remote computational power will pay in BTCS, and the revenue generated will be allocated to the mining pool. The ability for anyone to mine BTCS allows for unlimited devices to validate and provide processing power to the Bitcoin Spark network, with a two-pronged benefit of increasing the product potential infinitely and increasing the security of the blockchain itself. The network may also include other secondary services to boost revenue, such as advertisements on its application and website. The minting rewards for BTCS are calculated algorithmically based on several factors, including the revenue generated. If more revenue is gained, the rewards minting is reduced, and the minting endpoint is extended, thus achieving the project’s goal.
Bitcoin Spark also has lower fees and a significantly improved TPS due to its increased number of individual transaction capabilities per block, reduced block time, and higher number of nodes. The project is in the second phase of its Initial Coin Offering (ICO), and it has already taken steps to ensure the safety of investor assets. BTCS is selling at $1.75, with investors getting a 15% bonus.
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