The post Bitcoin Spark: Challenging Shiba Inu’s Dominance with Revolutionary Features appeared first on Coinpedia Fintech News
Shiba Inu (SHIB) has been in the spotlight for quite some time. However, a new crypto, Bitcoin Spark (BTCS), is challenging Shiba Inu’s dominance with its revolutionary features.
Is Shiba Inu a good investment?
Shiba Inu (SHIB) could be a good investment considering several factors. First, SHIB ranks among the top 20 cryptocurrencies by market cap and is listed on many exchanges, thus promoting accessibility and liquidity. It also has a large dedicated community that constantly boosts its social media presence and adoption. The project’s development team’s consistent efforts to enhance SHIB’s utility are evident with the recent launch of Shibarium. Nonetheless, it’s essential to note that SHIB’s price plunged 10% after network issues and a faulty bridge marred the much-hyped network launch. Therefore, it’s crucial to remain cautious.
Will Shiba Inu coin reach $1?
Despite Shiba Inu (SHIB) being a potentially lucrative investment, reaching the $1 mark is nearly impossible due to its ample supply and market capitalization. With around 589 Trillion SHIB in circulation, even if the coin’s supply were massively reduced to 100 Trillion by burning, the coin would require a market capitalization surpassing $100 Trillion to reach $1. For comparison, the entire crypto market capitalization is around $1 Trillion, with Bitcoin (BTC), the most valuable crypto asset, having a market cap of approximately $ 500 Billion.
Bitcoin Spark: A groundbreaking entrant
Bitcoin Spark is a fork of the original Bitcoin. Despite introducing revolutionary features that could change the crypto landscape, Bitcoin Spark retains some of its predecessor’s favourable qualities, such as having a limited supply of 21 million coins.
To solve Bitcoin’s transaction rate and transaction costs shortcomings, the Bitcoin Spark network will reduce the block time, enhance individual transaction capabilities per block, and drastically increase the number of nodes.
Additionally, Bitcoin Spark transcends being a simple P2P payment system by supporting smart contracts. The network has a unique multi-layered design allows for smart contract deployment in Rust, Solidity, and any high-level language compilable to EVM bytecode. This innovative design encourages various developers and smart contract styles to be on the Bitcoin Spark network, creating a diverse and robust ecosystem of applications relevant to many use cases.
Bitcoin Spark uses a proprietary consensus mechanism known as Proof-of-Process (PoP). Which non-linearly rewards users for confirming blocks and contributing processing power to the network. The project’s development team will offer a safe and lightweight application. It will enable users to participate in network validation by permitting access to their device’s processing unit. The Bitcoin Spark application will be compatible with Windows, Android, iOS Linux, and Mac OS, and once granted access, will create a virtual environment separate from the device’s operating systems to ensure security. The app will also adjust the processing power used to factor in overheating, battery, and simultaneous usage needs. This unique approach to network validation ensures true decentralization by enabling anyone to participate. It is also increasing the security of the blockchain in the process. The approach also provides a novel way to reward network participants.
Pay with BTCS
Bitcoin Spark will rent out the validators’ processing power to individuals and organizations as remote computing power. The clients must pay with BTCS, and the revenue generated will be distributed among the validators.
Additionally, Bitcoin Spark will have small, unobtrusive slots for community-policied advertising on its application and website. Network participants will receive 50% of the revenue generated in addition to extra incentives for policing the ads.
Overlaying revenue-generation services to the network expands the reward aspect. It creates a greater desire for network participation and thus fostering a devoted and well-rewarded community.
The Bitcoin Spark project and its ICO have gotten positive reviews from several crypto analysts and experienced investors. The ICO is in Phase 3, selling BTCS at $2.00, which is complemented by a 12% bonus.
With the significant shift to real-world use cases in the crypto landscape. However, Bitcoin Spark and its innovative attributes pose a formidable challenge to Shiba Inu’s supremacy.
For more information on Bitcoin Spark:
Buy BTCS: https://network.bitcoinspark.org/register
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