With the Bitcoin (BTC) price going above the $35,000 mark amidst the Bitcoin Spot ETF frenzy, an emerging alternative, Bitcoin Spark (BTCS), is also noticeably kicking into high gear.What is a Bitcoin Spot ETF? A Bitcoin Spot Exchange-Traded Fund (ETF) is a financial instrument designed to provide investors with exposure to the price movements of Bitcoin (BTC), the world’s largest cryptocurrency by market cap.Unlike traditional Bitcoin investments, which involve purchasing and storing BTC tokens, a Bitcoin Spot ETF allows investors to gain indirect exposure to the digital asset’s price fluctuations through the stock market.These ETFs track the real-time price of Bitcoin and replicate its performance.The potential launch of a Bitcoin Spot ETF has garnered significant attention and excitement in the cryptocurrency and financial markets, as it further legitimizes and simplifies Bitcoin investment, allowing for a broader range of investors.
Bitcoin Spark (BTCS): Advancing the Bitcoin ecosystem? Bitcoin Spark is the latest Bitcoin hard fork, seeking to improve on Satoshi Nakmaoto’s vision to usher in a new era of digital transactions.Despite introducing an array of innovative features and technologies, Bitcoin Spark maintains its predecessor’s scarcity factor by having a limited supply of 21 million coins.The Bitcoin Spark blockchain is capable of processing many more transactions per second while maintaining low gas fees by optimizing the time per block, significantly expanding the node network, and enhancing individual transaction capabilities per block.
The blockchain is also built with a layered architecture, which enhances its scalability while allowing for versatility.Among the layers will be a dedicated smart contract layer with separate execution systems that reach singular network finality.This feature empowers developers to create decentralized applications (Dapps) using popular languages like Rust, Solidity, and Vyper, positioning BTCS as crypto with a range of use cases beyond peer-to-peer transactions.The mining process within the Bitcoin Spark network is both energy-efficient and inclusive, thanks to its innovative consensus mechanism known as Proof-of-Process (PoP).
The PoP rewards miners for validating blocks and contributing processing power to the network.However, it exponentially reduces rewards per additional processing power, which, combined with the network’s extensive nodes, will allow even for low-powered devices.Miners will be able to engage in this process through the user-friendly Bitcoin Spark application, which can be easily installed on Android, iOS, Windows, Mac OS, and Linux devices.
The application will offer granular control over the utilization of processing power, ensuring that the mining process remains secure, efficient, and adaptable to the needs of the user.
Aside from the minted BTCS and transaction fees earned from confirming blocks, miners will also receive income from their idle processing power.The Bitcoin Spark will enable institutions and individuals to efficiently utilize the contributed power for remote computing in exchange for BTCS.3% of the revenue earned will go to the team for income and development, with the remaining portion going to miners.The BTCS minting rewards will run on an elastic system, factoring in the revenue generated within the network.
This means if more revenue is generated, the BTCS minting is reduced proportionally, moving the minting endpoint further.This suggests continued profits for network participants, especially considering the Bitcoin Spark ecosystem is set to include supplementary revenue-generating services, such as having unobtrusive community-policed advertising slots on its application and website.The Bitcoin Spark (BTCS) price recently increased from $1.50 to $3.50 as it entered Phase 9 of its 10-phased Initial Coin Offering (ICO) event.The ICO has seen massive investments so far, with many endorsements and significant purchases from crypto whales.Notably, the Bitcoin Spark network and its development team have undergone multiple [audits](https://github.com/Vital-block/Smart-Contract-Audit/blob/main/BITCOIN%20SPARK%20CONTRACT%20AUDITING%20REPORT.pdf), underscoring an unwavering commitment to security, reliability, and sustainability.
BTCS is set to launch at $10 on 30th November, indicating an increase of more than 200% from its current price.Analysts suggest with the positive crypto market, Bitcoin Spark (BTCS) has the potential to witness continued price appreciation even after its launch.To get more information on Bitcoin Spark: Website: [https://bitcoinspark.org/](https://bitcoinspark.org/) Buy BTCS: [https://network.bitcoinspark.org/register](https://network.bitcoinspark.org/register).