Connect with us
Active Currencies 14281
Market Cap $2,486,732,664,654.60
Bitcoin Share 51.98%
24h Market Cap Change $-0.70

Bitcoin Spark uses the unique Proof-of-Process mechanism for better user experience

4min Read

Share this article

Bitcoin Spark presents an innovative network that amalgamates Proof-of-Work (PoW) and Proof-of-Stake (PoS) to introduce a unique mechanism termed Proof-of-Process (PoP). This mechanism allows users to lease the processing power of mining apparatus for tasks such as large-scale coding or serving without storing any data outside of the device’s memory. All the fees collected are allocated entirely to the mining groups.

Users on the network are required to stake, akin to how Proof-of-Stake blockchains operate. However, there’s a twist. They must contribute their computer’s processing power to the network, which others can rent for tasks requiring substantial computational power.

The rewards are computed by combining the user’s stake and the work performed by their computer for remote users. The reward system is designed to emphasize the work done more than the stake size, thus prioritizing earning money through the product.

The BTCS team provides software applications for various devices to simplify mining. The software efficiently utilizes processing power to prevent overheating or battery drain issues. This processing operates within a safe space on the device, thereby not affecting other parts.

Security is another critical aspect prioritized by BTCS. The processing occurs in isolation, thereby enhancing the protection against potential attacks. This approach reduces the miner’s power, making it challenging for anyone to take control of the network.

The Bitcoin Spark code will be available for developers to create their mining applications and wallets upon launch. The team will only recommend third-party wallets once they are thoroughly tested and deemed secure. The Bitcoin Spark application will function as a wallet for the network and other cryptocurrencies. As of now, BTCS ICO is in phase four, and BTCS is priced at $2.25 with a 10% bonus. Phase four holders will experience a 489% investment growth during the launch.

Profitability of Crypto Mining

Various factors, such as the current market price of the mined cryptocurrency, the processing power of the mining hardware, energy costs, and the competition within the network, influence the profitability of crypto mining. In the early days of cryptocurrencies, mining was highly profitable as the value of coins was relatively low, and the network had fewer miners.

However, with the rising popularity of cryptocurrencies and the increased number of miners, the mining difficulty has escalated, necessitating more computational power and energy consumption. Also, the volatile nature of cryptocurrency values significantly impacts the potential profitability of mining.

For individual miners, the costs of electricity and specialized mining hardware often outweigh the rewards, especially for popular cryptocurrencies like Bitcoin. Mining profitability can vary significantly, making it essential to consider all costs and factors before diving into crypto mining. Some miners join mining pools for consistent rewards, while others invest in mining farms with optimized setups to stay competitive.

Bitcoin Spark (BTCS): Pioneering the Future of Blockchain

Bitcoin Spark is an inventive cryptocurrency startup aiming to resolve the challenges faced by the Web3 community. BTCS, the native digital currency of the platform, serves both as a utility and a gas token. Bitcoin Spark rewards its community members for their participation during the platform’s initial development phase.

The total supply of BTCS is capped at 21 million, which is allocated for mining rewards and launch supply. Out of the launch tokens, 50,000 are allocated for team tokens (0.24% of total supply), 4 million for the ongoing initial coin offering (ICO), and 500,000 for initial liquidity pools and exchanges.

The crypto startup is in the fourth phase of its ongoing presale. Blockchain enthusiasts and investors can purchase BTCS at a discounted price of $2.25 before the commencement of the next ICO phase, where the price will be increased. Buyers will receive a 10% bonus on the number of BTCS purchased. During the launch period (30th November), participants are expected to gain a profit of 489% as one BTCS will be valued at $10.

Marketing Strategy of Bitcoin Spark

In the crypto realm, a fast-paced and innovative marketing strategy is crucial, given the immense expectations for development. Bitcoin Spark employs an extraordinary marketing approach known as innovative disruption. This groundbreaking strategy seeks to replace traditional methods of promoting a new platform.

The latest Bitcoin fork uses an implementation of storytelling, utilization of modern technology, and strategic positioning. This approach creates an appealing position for Bitcoin Spark, promoting the development of blockchain technology. Other marketing methods include influencer collaborations and community building.

Bitcoin Spark and Smart Contract Layer

An essential element that makes Bitcoin Spark an attractive project is the smart contract layer responsible for all operations. Smart contracts can be deployed through any compatible high-level or low-level language. Unlike Ethereum, Bitcoin Spark allows community members to use any EVM-bytecode-compatible language, such as Solidity and Vyper. This flexibility enables blockchain developers to freely create their decentralized applications.

Potential Partnership with PayPal

Additional information suggests that Bitcoin Spark may soon collaborate with PayPal for seamless onboarding following the recent launch of PayPal’s stablecoin. This potential integration could significantly ease the process of joining the Bitcoin Spark network, thereby promoting widespread adoption.

Bitcoin Spark stands as a testament to the continuous innovation in the cryptocurrency and blockchain landscape. By introducing novel mechanisms and potential partnerships, it’s poised to redefine our understanding of cryptocurrency mining and the future of blockchain technology.

Learn more about Bitcoin Spark here:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

Disclaimer: This is a paid post and should not be treated as news/advice.  

Share

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.