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The post AVAX And BTCS Are Currently leading The Pack In The World Of Investments appeared first on Coinpedia Fintech News
The digital currency space is already gaining immense traction following increased innovation from newcomers in the ecosphere. The development of the niche is attributed to the inauguration of various projects such as Avalanche and Bitcoin Spark. BTCS is the newest digital platform that is considered the future of the virtual currency industry. The new blockchain technology has gained momentum due to its newly integrated validation mechanism, proof-of-process.
What is Bitcoin Spark?
Bitcoin Spark is a newly integrated decentralized Web3 project that seeks to advance the crypto industry with its proof-of-process consensus mechanism. The validation process allows network participants to earn passive income through mining and staking activities. The native token for the platform is BTCS, which also acts as a governance token for the ecosystem, allowing holders to vote for or against administration policies, thus promoting further decentralization. The network is lightweight compared to other blockchain platforms, such as Bitcoin. This network feature enables low-powered devices to mine BTCS in the network, unlike in most mining ecosystems that waste energy and have massive cost-related entry barriers.
What is AVAX?
AVAX is the native token of Avalanche, a decentralized and open-source platform that utilizes proof-of-stake to validate the network by approving transactions. AVAX is utilized as a gas token for the platform. Participants who hold AVAX are rewarded in the token for partaking in the development of the network. Avalanche is considered among the projects with the most potential to explode with the bull market. However, the project is already established, and its returns cannot compare to the potential yields generated by Bitcoin Spark.
BTCS Price Prediction
Bitcoin Spark is a new entrant in the distributed ledger, which aims to provide multiple ways of creating passive income. The project utilizes a decentralized approach to enhance users’ efficiency, transparency, and scalability. BTCS will be the gas token for the platform for two years after the mainnet release, after which the network will turn gasless to allow more Web3 adoption and efficiency. This feature already puts Bitcoin Spark a step forward compared to old-generation blockchains like Ethereum, which overcharge transactions.
The maximum supply of BTCS is 21 million, similar to that of Bitcoin’s total supply. BTCS has been distributed to launch supply and mining rewards. Blockchain participants who want to join the project can purchase the token cheaply at $3.25 during the ongoing phase eight initial coin offering.
The project has a roadmap that gives information on the ongoing presale. Bitcoin Spark also has an official application that is used in mining operations. The network utilizes proof-of-work and proof-of-stake validation mechanisms, which rent out processing power to organizations and community members who need it for undertaking tasks such as video coding and solving intrinsic computational equations.
Data is stored inside the mining device’s Random Access Memory (RAM). However, the processing power is stored in devices in use. Bitcoin Spark’s team has developed an easy-to-use mining application that can support Mac OS, Windows, Android, and Linux. The mechanism will enable the participants to install the system on any device.
The application is also utilized as a wallet for Bitcoin Spark. The wallet will also support networks like XRP, Ethereum, and Solana. Bitcoin Spark will not be compatible with EVM wallets such as Metamask immediately upon launch. Users who want to use wallets such as Metamask must utilize wrapped BTCS on Ethereum that may later be converted to mainnet BTCS through the platform’s proprietary bridging system.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
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