Blockchain technology is highly interoperable, making interacting with different networks easier.Network interoperability enhances and facilitates the development of virtual infrastructures that exchange information or assets from one network to another.Interoperable blockchains have showcased impressive runs, especially during bullish market cycles.Although the market is currently in bearish sentiment, experts predict that the bull market is around the corner, and this could be the best time to accumulate MATIC, BNB, and ATOM alongside this new Bitcoin hard fork called Bitcoin Spark.
What is Cross-Chain in crypto?
Cross-chain is a technology application that allows different blockchain networks to share on-chain information, including data and digital assets.Interoperable blockchains have facilitated the conversion of the blockchain ecosystem into one mega multi-chain through dApp deployment and layer-2 scaling solutions.Networks use bridging systems to facilitate the movement of digital assets from one network to another.
Bitcoin Spark’s Cross-Chain feature
Bitcoin Spark is a new project that is still under development.Although still in its early stages, the platform has attracted the attention of major investment firms in the crypto arena.
The network developers will deploy a cross-chain feature upon official launch to enhance user interoperability early.
The devs have minted BTCS tokens, Bitcoin Spark’s utility token, on the Ethereum mainnet to facilitate the ICO event.
When the ICO ends, the network’s mainnet will prompt the bridging system to allow ICO wallets to transfer their assets to other networks.Initially, the devs will establish liquidity pools on significant blockchains such as Binance Smart Chain, Ethereum, and Polygon.
Other networks like Cosmos will be integrated later when the number of users increases.After its debut, the bridging system will also allow devs to redeem IOU ERC-20 tokens for mainnet BTCS.
Moreover, all centralized exchange deposits and withdrawals will be converted to mainnet BTCS.
Bitcoin Spark clings to its leadership role as a pioneer of transparency and accountability.To foster this, Bitcoin Spark founders have undergone intensive KYC audits by two individual firms.
Furthermore, the platform’s smart contract has also undergone intensive and comprehensive analysis by Contract Wolf, Vital Block, and Cognitos.
The results are available online through the platform’s whitepaper that bears the links.
Bitcoin Spark’s BTCS tokens have a maximum supply of 21 million.
The supply is similar to that of Bitcoin.However, the only difference between the two is that it will take longer for Bitcoin Spark to achieve its maximum supply (more than 120 years) than it will take Bitcoin.This is because Bitcoin Spark has allocated most of the supply (16.45 million) to mining pools.These mining pools will yield BTCS tokens to reward network validators for approving transactions.
The Bitcoin Spark RPC will simultaneously provide two data streams.
The provision will, therefore, need a particular wallet interoperable with multiple layers concurrently.Bitcoin Spark’s marketing strategy is unique to dethrone ancient marketing methods that some DeFi projects use today.The marketing strategy will involve critical elements like compelling narratives, value propositions, and technology-friendly operations.The strategy has been dubbed ‘innovative disruption’ and spearheaded by experienced marketing professionals in the Bitcoin Spark team.
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