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Bitcoin Spark Surpasses 2M Raised In Only a Few Months, What’s Next For This Bitcoin Fork? appeared first on Coinpedia Fintech News
Bitcoin forks are among the most discussed subjects in the crypto hemisphere.Bitcoin forks change the idea of the Bitcoin network by upgrading the existing network or offering Web3 participants an alternative network.Hard forks typically change the dynamics of the Bitcoin network by altering how the consensus is reached and what digital asset will be used.They greatly influence the growth of blockchain infrastructure and, at the same time, provide lucrative investment deals for enterprising blockchain fans.
What are Bitcoin Forks?
Bitcoin hard forks exist in two forms: soft forks and hard forks.Soft forks upgrade the Bitcoin blockchain without the need for a new network or a new digital asset.On the other hand, a hard fork involves the creation of a new blockchain that mimics the parent Bitcoin blockchain but has improved features that overcome the downsides of the Bitcoin network.This new Bitcoin hard fork is attracting whales, venture capitalists, and retail crypto investors.
Bitcoin Spark stands out among 100+ Bitcoin forks
Bitcoin hard forks have had a significant effect in the digital currency arena.There are more than 100 Bitcoin alternatives.
However, Bitcoin Spark, the newest DeFi project, stands out.Bitcoin Spark employs cutting-edge technology to solve some of the most significant Bitcoin shortcomings.
The Bitcoin network must be updated with increased transaction costs and reduced scalability, interoperability, and transaction speed.
One of the significant improvements being offered by Bitcoin Spark is enhanced speeds.Bitcoin only manages seven transactions per second, enough when the crypto ecosphere was small.
However, modern times have caused the crypto asset to grow significantly, registering increased transactions that lead to subsequent slow confirmation times, causing delays.Bitcoin Spark has increased transaction speeds that outperform Bitcoin and other major cryptocurrency platforms.
Additionally, Bitcoin Spark offers lower transaction costs compared to Bitcoin.The transaction fees on the Bitcoin network have been a hindrance, especially with the increased transaction volumes the network has recently witnessed.
Bitcoin Spark offers a suitable alternative cheap network that Web3 participants can use instead of paying more for transactions on the Bitcoin network.
The low transactions will soon be eliminated, making the network gasless.
You may wonder how network participants (miners and stakers) will get rewards, right? The network has set measures to ensure two income streams are up and running in less than two years after the launch.The income streams will provide sufficient cash flow to pay off miners and stakers as well as reward the team behind the network’s development with funds for their income and personal expenses.
Bitcoin Spark can also give developers a chance to deploy smart contracts.The smart contracts on the Bitcoin Spark network will automatically self-execute, and the agreements will be embedded directly in the contract as lines of code.
Bitcoin Spar has an ongoing presale that is the currency in phase 6.The phase sees the distribution of BTCS tokens, the platform’s utility token, at a discounted price of $2.75 and an additional 8% bonus for every purchase deposited in BTCS tokens.
The platform has already raised more than $2 million from blockchain enthusiasts and whales.Bitcoin Spark is lucrative for anyone who missed out on Bitcoin before 2013.
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