One of the popular cryptocurrency groups of assets that have performed well over time is the Bitcoin hard forks. These assets are usually characterized by massive utility by solving major setbacks experienced by blockchain users on the Bitcoin network. Bitcoin hard forks arise when network members fail to reach a consensus on an update, leading to a split that, in most cases, results in the formation of an alternative upgraded network by the opposing members. Bitcoin is constantly facing new Bitcoin hard forks. However, Bitcoin Spark has showcased more potential to increase applicability.
Will Bitcoin Recover?
Bitcoin has been around since 2009 after its official inauguration led by an individual or a group of unknown developers known by their pseudonym Satoshi Nakamoto. The digital asset was created to solve major challenges and limitations in traditional financial systems. These challenges included rising inflation and heavy centralization of fiat-based banking systems. Bitcoin’s supply is capped at 21 million coins, and no one can add to this supply.
This capped supply makes the token deflationary, compared to fiat, which central banks and government institutions readily print. Like any other market, the crypto market experiences alternating market sentiments for bulls and bears. The crypto market has been melting as bears liquidate their assets due to panic and fear. However, experts believe that the market will recover with incoming Bitcoin ETFs from major investment funds as well as the Bitcoin halving event of 2024 that has historically served as a bullish indicator.
Bitcoin Spark shines among popular BTC forks
Bitcoin Spark has gained massive attention from crypto participants after registering impressive sell-offs for its native digital asset, BTCS, in the ongoing presale. Bitcoin Spark is currently hosting an ICO event on the Ethereum mainnet in phase 7. However, a bridging feature will launch to allow holders to transfer their tokens to the Spark mainnet. Each ERC-20 BTS token has an affordable price peg of $3 and a 7% bonus. The price of BTCS will increase, and the bonus will decrease in the next ICO phase, making earlier investments more rewarding.
Therefore, investors are taking advantage of the affordable prices that Bitcoin Spark is offering. Compared to its overall value, BTCS tokens are worth much more. The BTCS launch price is $10, meaning that all investments incepted into the platform in the running ICO phase 7 will be worth 357% at the launch date and much much more when the project continues to receive new investments and grow its market capitalization.
What makes Bitcoin Spark special?
Unlike other Bitcoin hard forks, Bitcoin Spark is a definition of true decentralization in the Web3 arena. The project will improve its consensus to accommodate both miners and stakers through the proof-of-process consensus mechanism. The miners on the Spark mainnet will conduct simple mathematical calculations to ratify the validity of transactions and, in the process, yield processing power through the mining layer of the network. The miners will earn BTCS tokens for their income and maintenance in exchange.
Bitcoin Spark’s decentralized network shines in the essence that the mining process will occur on ordinary home devices such as mobile phones, PCs, laptops, tablets, and iPads. This functionality is possible due to the fewer complexities witnessed on the network’s lightweight Bitcoin Spark mining layer. This feature opens up network validation to many people worldwide, solving Bitcoin’s centralized mining associated with massive entry barriers.
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