The blockchain ecosystem has been growing exponentially since the debut of Bitcoin, the first DeFi project, in 2009.As technology evolves, it is becoming evident that the blockchain infrastructure will serve as a major milestone, especially in finance.Polkadot and Bitcoin Spark are newer DeFi projects spearheading the growth and adoption of blockchain technology through scalability and interoperability.nnIs Polkadot a Good investment?nnThe crypto market has been experiencing an intense struggle between the bulls and the bears.This has caused harsh investment conditions for online entrepreneurs and crypto enthusiasts.However, the prevailing market conditions are set to change with an imminent bullish momentum that experts predict may commence soon.Once the market picks momentum, Polkadot could be among the projects DeFi investors will be eyeing for their portfolio.
The platform utilizes the proof-of-stake consensus mechanism, making it more eco-friendly, faster and more scalable than Bitcoin.However, the project is no match for the potential Bitcoin Spark has.nnBitcoin Spark is the future of DeFinnBitcoin Spark is a major Bitcoin hard fork that stands out against more than 100 Bitcoin hard forks currently in existence.
The project aims to incorporate major upgrades by merging distinct characteristics of proof-of-work blockchains (like Bitcoin) and proof-of-stake blockchains (like Ethereum and Polkadot) in one network through the proof-of-process consensus.Bitcoin Spark is the only project with this consensus mechanism that is expected to run the platform’s network upon mainnet release.nnThe proof-of-process is a mixture of proof-of-work and proof-of-stake modules, making it more effective than the two blockchain methodologies.It incorporates mining as well as staking activities alongside a special mathematical blueprint that overlooks reward distribution among validators and miners.The algorithm will be designed to balance earnings regardless of the mining equipment used, the raw processing power, and the type of network participant.nnWhile it is the case in independent proof-of-work and proof-of-stake consensus blockchains, raw capital does not dictate raw power when applying the proof-of-process method on a network.However, those who carry out more mining activities will earn more BTCS tokens than those who do less.Furthermore, the special algorithm will ensure that this is done in a balanced manner disregarding the fiat-equivalent net worth of the mining participants.nnBitcoin Spark’s roadmap reveals a promising future for the DeFi project.Just before the launch in November, the developers intend to close the mining app’s beta release and initiate a bug bounty for the imminent Spark blockchain to improve the network before its release.
The team is also working on the cross-chain bridge to make the Spark network interoperable with other networks upon mainnet release.nnnnBitcoin Spark is among the first projects to launch a revenue generation program besides network validation.The primary source of income in the project will include lending out processing power to external organizations and individuals.
Miners will generate the processing power during network validation, which is essential in carrying out complex virtual activities such as video rendering and running complex servers.Users who require the processing power will have to pay for it in BTCS tokens.nnThe second income-generating avenue will be advertising.
The Bitcoin Spark team will segregate unobstructed spaces on the platform’s website and mobile application that will be converted to ad slots for advertisers to boost their reach.These advertisers must pay for the ad slots in BTCS tokens.nnLearn more about Bitcoin Spark on:nnntWebsite: https://bitcoinspark.org/ ntBuy BTCS: https://network.bitcoinspark.org/registernnnDisclaimer: This is a sponsored article.The views and opinions presented in this article do not necessarily reflect the views of CoinCodex.
The content of this article should not be considered as investment advice.Always do your own research before deciding to buy, sell or transfer any crypto assets.n.
