Bitcoin has asserted its dominance as the largest cryptocurrency network in the world. However, blockchain technology is growing exponentially with the rise of new altcoins daily. A new blockchain network is on the verge of launching with attractive perks that Bitcoin and Ethereum users can only dream of. This DeFi project is called Bitcoin Spark. Bitcoin Spark has recorded a seismic imbalance as on-chain activity indicates an increase in transaction volume despite the project being in its initial development stages and the prevailing market conditions being unfavorable.
What are altcoins?
The word “Altcoin” is a combination of two words, “alternative” and “coin”, which refers to all crypto assets in existence apart from Bitcoin. After Bitcoin launched in 2009, many crypto projects, dubbed altcoins, have emerged to provide an improved ecosystem or network through adopting advanced technology or diversification of purpose. These projects include Ethereum and Bitcoin Spark, which have introduced smart contracts and faster transaction speeds.
Are Altcoins worth it?
Altcoins are essential to the growth of blockchain technology and decentralized finance. They offer massive opportunities for the diversification of a crypto portfolio as well as offering better networks than that of Bitcoin. For instance, Bitcoin Spark is an emerging altcoin that will develop a better network with improved purposes and advanced smart technologies to outshine the Bitcoin network.
What is Bitcoin Spark?
Bitcoin Spark is a new DeFi project with advanced features and massive utility applicable to solving the challenges and limitations of the Bitcoin network. The project is currently under development and has a running ICO event. The native digital asset of Bitcoin Spark is the BTCS token. It is selling for $2.25 in the ongoing ICO event in the fourth stage.
The platform is incorporating a new marketing strategy called innovative disruption to disrupt traditional marketing campaigns. The innovative disruption method aims to capture the attention of an audience and build trust. Some of the strategies the team intends to use are storytelling, content marketing, social media, building a solid community, and partnering with crypto influencers around the world,
The team behind the project’s development includes experienced marketing geniuses who will harness the power of digital marketing agencies to max out brand awareness. The platform will use a new and more advanced consensus mechanism called proof-of-process to approve transactions and validate new blocks. This process alloys proof-of-work and proof-of-stake, leveraging their advantages to develop a secure and efficient network for DeFi users.
Mining or staking BTCS tokens
Potential network participants will choose between mining or staking BTCS tokens to earn Bitcoin Spark validation rights. Miners will play a significant role in the development and growth of the ecosystem by producing processing power for the network. Since the network intends to incorporate the power into its in-house revenue-generating lines. The processing power will be the main product to sell to customers. The team will lend the processing power to companies and individuals who will pay for the power in BTCS tokens. Earnings derived from this stream of income will be allocated to mining pools. However, a portion (3%) will be given to the team behind the project’s success for their income and maintenance.
In addition, The other stream of income will be advertisement. Bitcoin Spark devs will create ad spaces on the platform’s mobile applications and laptop software from unobstructed spaces. Also, Advertisers and marketing agencies will pay for the slots in BTCS. The price per ad will depend on the demand, which an advanced algorithm will calculate. However, The team will keep 50% of the revenue generated from this stream. And the remaining half will be distributed to miners and network validators.
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