The Chainlink-Swift partnership has placed LINK in the spotlight. However, should you invest in Chainlink or this new Bitcoin alternative known as Bitcoin Spark?
What is Chainlink?
Chainlink is a decentralized oracle network that bridges the gap between smart contracts and real-world data. Smart contracts, while powerful, require access to real-world data and external systems to reach their full potential, and Chainlink has gained significant adoption and recognition within the blockchain and cryptocurrency ecosystem for its critical role. Notably, Swift, an interbank messaging system, and Chainlink are conducting experiments to connect over a dozen financial institutions to blockchain networks.
LINK price prediction
LINK recently dipped below both its 50-day and 200-day Simple Moving Averages (SMA). Furthermore, the Relative Strength Index (RSI) has edged just above the oversold threshold at 31, indicating mounting selling pressure. If this trend continues, we may witness a correction and an eventual upward move. Nevertheless, the Moving Average Convergence/Divergence (MACD) is currently signaling a strong sell sentiment, reinforced by its Histogram bars. Despite these challenges, LINK seems to be entering an accumulation phase, offering investors an opportunity to gather tokens. However, it’s crucial to exercise caution, refraining from opening long positions prematurely, since further price declines could occur if the $6.17 support level doesn’t hold.
Bitcoin Spark: A better investment?
Bitcoin Spark is a Bitcoin fork with a twist. It seeks to be a self-sustaining revenue-generation network that enables its participants to remain profitable despite market fluctuations.
The Bitcoin Spark network archives its goal through various innovative technologies, starting with its proprietary consensus mechanism, the Proof-of-Process (PoP). The PoP is a cross between the Proof-of-Work (PoW) and Proof-of-Stake (PoS), requiring miners/validators to stake and provide the processing power of their mining devices to the network for them to confirm blocks and earn rewards. The processing power provided is then rented out to institutions or individuals requiring remote computing processing for high CPU or GPU load tasks, such as video rendering, running shared resource servers, and solving large scientific equations. Those using the processing power will send BTCS as payment, which will be allocated to the mining rewards pool. If more revenue is obtained, the rewards minting will be reduced in balance against the revenue, and the minting endpoint will move further away. The Bitcoin Spark development team has ensured unlimited devices can validate and provide processing power to the network, increasing the product potential infinitely while simultaneously boosting the security of the blockchain.
The Bitcoin Spark application will enable users with Windows, Android, Mac OS, and Linux devices to mine by permitting access to their device’s processing unit. The project’s team has maintained security while ensuring the work and power required for mining is low. The application will work in a virtual environment that doesn’t interfere with any other part of the device and will automatically adjust how much of the processing power is used to account for overheating, battery, and simultaneous usage requirements. The network’s repository will also be made public so that developers can build their own mining applications.
There will be small amounts of unobtrusive space for community-policied advertisements on the Bitcoin Spark website and application. This secondary revenue-generating service takes advantage of the rising marketing industry to reward miners and network participants further.
Therefore, with diversified income streams from mining, advertisement, and decentralized CPU/GPU rental, Bitcoin Spark’s network participants should be able to turn a profit regardless of prevailing market conditions.
The Bitcoin Spark network will also allow for smart contract deployment. It will have separate smart contract execution systems with singular network finality, enabling developers to use both low-level and high-level programming languages.
Bitcoin Spark is in its Initial Coin Offering (ICO) stage and has already made notable steps to ensure efficiency, such as conducting smart contract audits. The ICO is moving to Phase 3 on 21st August, where BTCS will sell at $2.00, accompanied by a 12% bonus.
While it’s not too late to buy Chainlink (LINK), Bitcoin Spark (BTCS) requires comparatively less monetary investment and has the potential to provide more massive gains, mainly due to its relatively low market cap. However, just like any other investment, they both have their associated risks. Thus, you should do adequate research to find what’s best for you.
To get more information on Bitcoin Spark:
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