The top 25 spots on the crypto list are competitive and fluctuate each time.These top projects are usually characterized by high utility and massive applications in the Web3 arena.However, meme coins also find their way into the list as a result of massive hype from their respective community members and social media frenzy.These meme coins lack utility and do not offer any major functionalities in the Web3 ecosystem.
A good example is Shiba Inu, which was founded by an anonymous developer to dethrone another meme coin called Dogecoin.Bitcoin Spark’s utility puts it on a hotspot with the potential to dethrone Shiba Inu in the next top 25 crypto list.
What is Shiba Inu?
Shiba Inu is a meme coin that came to light in August 2020.The project had an initial token supply of one quadrillion tokens.
The project’s founder used a clever move to market the meme coin by sending half of the token supply to Ethereum founder Vitalik Buterin.This marketing stunt worked, and
Shiba Inu rose to popularity with its alleged endorsement of one of the most prominent cryptographic figures.
Buterin donated 10% of the amount sent to his public wallet and burnt the remaining 90% by sending them to a burning wallet address.Shiba Inu also has a burning feature that has burnt trillions of tokens out of circulation.
The current circulating supply of Shiba Inu is 549 trillion tokens.Although the platform has had an impressive run, it has since lost most of its value.
The token dropped more than 90% from its all-time high price, making it possible for Bitcoin Spark to outperform the meme platform.
What is Bitcoin Spark?
Bitcoin Spark is among the fastest-growing DeFi platforms in the cryptographic arena.The project is still under development but has managed to attract whales, institutional investors, and venture capital firms.The project is a Bitcoin hard fork upgrade that looks to solve scalability, transaction costs, and speed issues experienced by Web3 users on the Bitcoin network.Bitcoin only hosts a maximum of seven transactions per second, which, at the time of its initial implementation, was enough speed for its small user numbers.
However, the network has significantly grown with millions of users, making its transaction speed significantly lower than the demand.
Bitcoin Spark intends to address this challenge by decreasing block time and increasing the number of transactions in a single block.Bitcoin Spark’s
network transaction costs will also be reduced through the block capacity and reduced block time alongside increasing the number of operating nodes with low associated operating costs.Additionally, anyone can mine on the Bitcoin Spark network, unlike Bitcoin, whose mining activities are segregated for ultra-wealthy individuals and mining firms.Bitcoin mining is highly centralized, as more than 50% of the mining is headed by two mining firms, Antpool and Foundry USA.
Mining the Bitcoin Spark network will be more decentralized than mining Bitcoin.
Miners on the Bitcoin Spark network will be required to solve simple mathematical equations through a new consensus mechanism called proof-of-process, which is an alloy of mining and staking consensus.
Mining will yield more returns, however, not in an unbalanced way.When individuals increase their Bitcoin Spark mining computation power (hash rate), their rewards will not increase linearly, discouraging what is happening on the Bitcoin network and causing centralization concerns.
Bitcoin Spark is currently hosting a presale, distributing its utility token, BTCS, at a favorable price.The ongoing ICO event is in phase 6, retailing each BTCS token for $2.75 and an additional 8% bonus for all orders, regardless of the amount used to purchase BTCS tokens.In the next ICO phase seven, the BTCS price will have increased, and the bonus will reduce.
Learn more about Bitcoin Spark on:
Website:
Buy BTCS:
https://network.bitcoinspark.org/register
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice.
Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page.Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post.Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
see all)
–
Bitcoin Spark Being Hailed as The Next Top 25 Crypto, Dethroning Shiba Inu- September 26, 2023 12:58 pm EDT
–
FinTech Festival Asia (FTF) 2023: Featuring a Diverse Range of Attendee Options- September 26, 2023 11:04 am EDT
–
Monero, Tradecurve Markets, and Toncoin: Microsoft AI’s Top 3 Picks in Cryptos- September 26, 2023 10:13 am EDT.
