The traditional market is now shifting its focus towards the digital currency ecosystem. Nevertheless, some bridges allow crypto users to convert virtual currencies to fiat. The giant crypto exchange Binance has immense adoption. However, the credit card processor checkout.com has cut ties with the exchange. This has paved the way for the next Bitcoin Alternative called Bitcoin Spark. The project seeks to promote decentralization in blockchain technology.
Is Binance safe?
Binance, the largest cryptocurrency giant, has parted ways with credit card processing firm checkout.com. The credit processing organization stated the reason behind cutting ties with the exchange is due to the recent regulatory pressure from financial watchdogs. Despite the digital currency exchange concerns, Binance continues with its daily duties partnering with other companies and complying with global regulators.
Binance Coin Price Prediction
Coincodex, a cryptocurrency analytical firm, has suggested that BNB, Binance’s token, is predicted to surge 11.24% amid the winter market. The technical indicators also communicate that the sentiment is bearish as the fear and greed index depicts 37 mark fear.
Bitcoin Sparks Ramps Up Amid Winter Market
The digital currency ecosystem requires a platform to provide its users with solutions that promote further decentralization. Bitcoin Spark, an emerging platform, seeks to promote the ledger technology through advanced technological reforms. Bitcoin is a prominent digital network that has significantly impacted crypto adoption.
Nevertheless, the project has shortcomings including high transaction costs caused by low transaction speed and network congestion. The time to construct a single block in Bitcoin’s network is longer due to the capacity in the platform. These defects facilitate a speed of only seven transactions per second, a relatively low speed that limits the network’s growth.
Furthermore, Bitcoin experiences mining centralization. Only large and affluent mining firms have access to complex computational machines. Another factor that limits Bitcoin from having a massive outreach is the need for smart contracts. This issue has made several decentralized developers seek layer two scaling solutions.
The new Bitcoin fork will increase transaction speed by reducing the time utilized in validating a single block. The transaction cost will decline following the miner’s investment through merging a drastically expanded number of nodes alongside decreased initial expenditures and operating costs. The platform also has a smart contract layer that will enable programmers to thrive in the decentralized community while they develop their applications.
A marketing strategy that is comprehensive and well-developed can lead to the outburst of a cryptocurrency project. In this case, Bitcoin Spark has a complete marketing procedure that disrupts the traditional market. The marketing mechanism is referred to as innovative disruption. Some salient features, such as storytelling and utilization of modern technology, are involved in creating awareness among crypto members and non-participants.
Moreover, Bitcoin Spark has integrated a new revenue generation set that uses advertisements and renting processing power to miners. A percentage (3%) of the revenue generated from renting processing power will head to the team for income and upkeep. On the other hand, 50% of revenue generated from advertisements will head to the team for the same purpose as processing power revenue. The platform is carrying out a presale and the ICO is in phase three of initial coin offering where each token is selling for $2.
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