Financial technology has always been a hot topic in modern society. Most individuals think about Blockchain technology when describing fintech. Blockchain has worked hand in hand with several spheres, such as education, sports, and healthcare. Bitcoin is among the digital assets that ultimately saw a surge in the decentralized ecosystem.
The niche took over the traditional monetary systems, such as gold. Digital currency experts are awaiting the surge of the blockchain platform, which might occur in 2024. The bull run’s signs indicate a surge in the newest potential cryptocurrency, Bitcoin Spark. Bitcoin Spark has set its ways to improve the distributed ledger.
Bitcoin Price Prediction
Satoshi Nakamoto pioneered Bitcoin to provide a system of peer-to-peer transactions. The digital currency attracted many investors after the Winklevi twins invested money. BTC is set to be sure amid the next bull run that might occur during the first quarter of 2024. There will be bitcoin halving in the same period.
The next halving will occur in April 2024. The native currency for the platform is BTC. BTC is utilized as a governance token for the ecosystem. Miners who partake in confirming new blocks in the platform are awarded with newly minted BTC.
How to mine Bitcoin?
Bitcoin mining requires an individual to acquire mining equipment, such as nodes that will solve intricate computational puzzles. In addition, a high amount of electricity is required for powering these nodes. Mining in Bitcoin is centralized as large farms such as Antpool have taken 50% of the niche. This plays a huge risk as they can rewrite the code in blockchain.
Bitcoin Spark to Experience Bullrun
Amid the crypto winter, the new digital asset project, Bitcoin Spark, has managed to take over the blockchain industry. The project utilizes ledger technology for conducting transactions. Moreover, Bitcoin Spark has been audited by Cognitos and Contract Wolf, amongst compelling digital audit platforms in the cryptosphere. The organizations have audited Botcoin Spark’s Know Your Customer and smart contract operation.
In developing cryptocurrency projects, revenue generation is essential as it enables the new platform to be self-sustainable. Bitcoin Spark has a new generation mechanism yet to be inaugurated in other cryptocurrency projects. Revenue generation involves advertisements and rendering processing power to participants.
In advertisement, the project will set aside a small unused part of its website and application for conducting ad promotion. The advertisement section will be conducted in an elastic manner. This entails that when the demand has surged, so does the price increase, while time utilized in advertising the project will reduce.
However, this will change when there is less demand for advertisement. This mechanism allows other platforms to acquire maximum reach to traditional and blockchain participants. Most importantly, the project has a voting system that gives power to the community members to vote out a project that doesn’t meet the platform’s standards. The team will secure 50% of the revenue generation in this form for upkeep and income.
Another method for revenue generation is rendering GPU/CPU power to community members and external organizations. The processing power is acquired from validator nodes that solve puzzles. The team will take 3% of the income generation from this process for maintenance. The project is currently in phase six of its presale.
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