Chainlink and Bitcoin Spark cryptocurrency projects are emerging as pioneers in bridging the gap between real-world data and the digital realm. As the demand for reliable and secure integration of external information into blockchain networks grows, these innovative platforms are forging a path to make this integration seamless and trustworthy.
Bitcoin Spark (BTCS)
Bitcoin Spark is a futuristic cryptocurrency project aiming to revolutionize cryptocurrency mining. It strives to achieve this goal through Proof-Of-Process (PoP), a combination of innovative concepts of PoW and PoS.
BTCS seeks to enhance the accessibility and fairness of cryptocurrency mining through an application designed to engage and empower miners. This unique mechanism combines the security of PoW with the efficiency of PoS, promoting network security, scalability, and decentralization. To encourage participation and strengthen network security, BTCS emphasizes decentralization. The project aims to involve several validators, fostering a more secure and resilient network. Through its Bitcoin Spark application, available on various platforms, including iOS and Android, BTCS enables miners to contribute their device processing power to the network. The non-linear rewards system is designe to ensure fairness among miners.
Beyond mining, BTCS envisions a self-sustaining ecosystem that aligns with environmental and economic considerations. The project strives to offer consistent profitability to miners by combining various income streams, including mining rewards, transaction fees, and revenue from innovative product offerings such as CPU rentals and a novel advertising concept.
Moreover, BTCS has undergone audits and KYC certifications to ensure its infrastructure’s compliance, stability, security, and transparency. BTCS has a running ICO in phase three at $2.00 per token. The project offers bonuses as a reward for early adoption, and holders at launch in November can make 560% ROI.
How does Chainlink work?
Chainlink (LINK) is a decentralized oracle network bridging blockchain-based smart contracts and real-world data. Also, It enables smart contracts to securely interact with external data sources, APIs, and traditional payment systems, providing access to information outside of the blockchain.
Chainlink works via a network of data providers supplying real-world data to the blockchain. These data providers can trusted entities, APIs, or other data sources. They are responsible for delivering accurate and reliable data to smart contracts.
Oracles are software programs acting as intermediaries between smart contracts and external data sources. They fetch data from various sources and feed it into the blockchain, making it accessible to smart contracts. However, Chainlink’s decentralized Oracle network ensures that data is sourced from multiple providers, enhancing security and reliability. The Smart contracts on the blockchain can request specific data from Chainlink oracles and define the conditions under which the data should be retrieved and how it should be used. Once the requested data is received, the smart contract can execute predefined actions based on that data.
Chainlink’s nodes retrieve data from multiple sources and aggregate it to ensure accuracy. In addition, The aggregated data is then validated through consensus mechanisms to prevent incorrect or manipulated data from affecting smart contract execution. Once the aggregated and validated data is available, Chainlink oracles deliver it to the smart contract on the blockchain. The smart contract can then proceed with predefined actions based on the received data. Moreover, Chainlink’s decentralized Oracle network enhances smart contracts’ security, reliability, and trustworthiness by eliminating a single point of failure and reducing the risk of data manipulation.
How to buy Chainlink?
There are many ways of buying LINK; purchasing it through a trusted global exchange is easier. Choose a reputable global exchange for a convenient LINK purchase. Register by providing your email, username, and a strong password. Secure your account. Share your details like name, birthdate, country, and phone number. If using cash, complete identity verification with additional documents. Decide on your payment method. Fund your account using various options based on your location and preference. Deposit cash using the chosen payment method. Finally, with a funded account, you can buy LINK and include it in your investment portfolio.
Read more on BTCS here:
Website: https://bitcoinspark.org/
