The Bitcoin Spark presale has caught the attention of crypto enthusiasts and investors since it started on August 1st. As it progresses, on-chain data reveals a massive inflow of Dogecoin (DOGE) investments.
Will Dogecoin go back up?
There are reasons to believe that Dogecoin (DOGE) could go back up. First, it has an active community of supporters who consistently show their commitment to the coin. Additionally, Dogecoin’s low transaction fees and fast transaction times make it a viable option for everyday transactions, which could lead to increased adoption in a favourable crypto market. Moreover, continued endorsements from celebrities could increase its popularity and, subsequently its value. Nonetheless, for Dogecoin to sustain and amplify this resurgence, it requires significant developments to extend its utility beyond P2P transactions.
Will Dogecoin reach $1?
Despite having the potential to recover, Dogecoin (DOGE) is unlikely to hit the $1 mark. DOGE would require a rally of around 1400% to reach $1, and while it has skyrocketed by much more than this in the past, its now large supply and market cap make such high percentage changes nearly impossible. Additionally, Dogecoin has no maximum supply, and 10,000 new tokens are created every minute. And for it to reach $1, demand has to rise faster than supply. However, this seems highly unlikely with no reason to own Dogecoin besides the hope that its price will quickly surge.
What is Bitcoin Spark, and why is its presale gaining traction?
Bitcoin Spark has been revered by the crypto community because of its ability to build on the vision of Satoshi Nakamoto. It has similarities with Bitcoin (BTC), such as a maximum supply of 21 million, but with notable improvements to boost efficiency, scalability, and real-world applicability.
The network will achieve fast transaction speeds while maintaining low transaction costs due to various technical upgrades, including having a reduced block time and a massive number of nodes. Bitcoin Spark will also allow for smart contract development. It will integrate a smart contact layer with separate execution systems that all reach finality on the main network. This design allows for multiple programming languages to be used, encouraging diversity of developers, smart contract styles, and decentralized applications on Bitcoin Spark.
Bitcoin Spark will use a novel consensus mechanism known as Proof-of-Process (PoP). This innovative technology rewards users for confirming blocks and contributing processing power to the network. It’s combined with an algorithm that exponentially decreases rewards per additional power to ensure no one can capture network control. The network’s proprietary application will enable users to participate in network validation by permitting access to their device’s processing unit. The app will be safe, lightweight, and compatible with any Windows, Linux, Mac OS, iOS, and Android device, allowing virtually anyone with a smart device to participate in network validation.
The validators’ processing power will be rented out to trusted businesses and individuals through the Bitcoin Spark network. Those using the network for remote computing will be required to pay with BTCS, which will be distributed to the network validators, providing additional rewards to BTCS minting and transaction fees.
Additionally, the Bitcoin Spark website and application will have small, unobtrusive space for advertisements. Anyone holding BTCS will have an opportunity to vote out an ad that doesn’t fit the community’s criteria and will get incentives for properly doing so. Network participants will also receive 50% of the revenue generated from the ads.
The ability for unlimited devices to provide processing power to the network, coupled with the rising marketing industry, could see members of the Bitcoin Spark community benefit greatly and consistently.
The Bitcoin Spark presale is gaining traction because it offers a chance to get in on the ground floor of this innovative project. The ICO has even been hailed as a great opportunity for those who missed out on BTC. It also comes with various advantages. Investors get BTCS at a discounted price, currently at $2.00, in addition to bonuses (now at 12%). And with BTCS set to launch at $10.00, Phase 3 investors will have attained a 560% profit.
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