Unveiling Bitcoin Spark: The Next Big Player After Bitcoin and Ethereum Cryptocurrencies have reshaped the entire DeFi ecosystem since Bitcoin rose to fame in 2013.The crypto platform is widely known for its lucrative uncontrolled perks, making it the ideal antithesis of modern-day banking systems.Although Bitcoin is the most prominent digital asset in popularity and market capitalization, the platform has a docile network with high transaction fees, low transaction speeds, and limited scalability.Other platforms, such as Ethereum and Bitcoin Spark, have emerged to bring further decentralization in finance and solve some of the significant Bitcoin shortcomings.What is Ethereum? Ethereum is an old-generation blockchain pioneered after Bitcoin was invented to offer a suitable alternative to Bitcoin’s limited network.Ethereum started as a proof-of-work blockchain, mimicking Bitcoin’s network validation process.Proof of work is a heavyweight network verification process that consumes much energy and involves a high initial outlay.
Ethereum successfully underwent a major hard fork upgrade in September 2022, transitioning to a proof of stake consensus, a network verification that is less complicated and eco-friendly.Bitcoin Spark is the next Big crypto platform Bitcoin and Ethereum paved the way for the growth of decentralized finance projects.Among the upcoming platforms is Bitcoin Spark, a major Bitcoin hard fork potentially bringing massive changes to the industry.
Bitcoin Spark has a new consensus mechanism called proof of process that leverages proof of work and proof of stake consensus mechanisms to enhance network operations for Bitcoin Spark users.In other words, the network accommodates both mining and staking activities, and the network participants are rewarded in the platform’s native digital asset, BTCS.
The [Bitcoin Spark](https://youtu.be/ETF0UQ1dSnM) network is still under development and is expected to go live on the mainnet soon after the ongoing ICO ends.The network’s “proof of work” aspect will be the primary validation process that will provide processing power to the network.Unlike Bitcoin, BTCS mining has a reduced mining power consumption rate required to confirm new Bitcoin Spark blocks.For parties interested in beginning the mining process, the Bitcoin Spark devs will launch an online application tool that will allow them to calculate the estimated returns.
The Bitcoin Spark network is divided into four layers.First is the execution layer, which is where the creation of a block takes place.
This layer will operate on the Bitcoin Spark validator blueprint.The second layer is the consensus layer, which mediates between all validator nodes to come up with an agreement concerning the validity of a block.The third layer is the mining layer.This layer runs independently from other layers.The mining layer’s output yields the platform processing power helpful in completing virtual complex tasks such as film rendering.The last layer is the rewards layer.
This layer gets information from the mining layer’s computational data summaries but lacks access to encrypted data encoded on the Bitcoin Spark blocks.
Bitcoin Spark is a utility platform with an ongoing ICO event.The team is currently distributing BTCS tokens to early enterprising individuals who wish to participate in the project’s early development as well as get significant gains on their invested capital.BTCS is retailing for $2.50 each in the current 5th ICO stage.Learn more about Bitcoin Spark on: Website: [https://bitcoinspark.org/](https://bitcoinspark.org/) Buy BTCS: [https://network.bitcoinspark.org/register](https://network.bitcoinspark.org/register) Disclaimer: Any financial and crypto market information given on Analytics Insight are sponsored articles, written for informational purpose only and is not an investment advice.The readers are further advised that Crypto products and NFTs are unregulated and can be highly risky.
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