The Rise of Decentralized Technology
The decentralized technology has experienced remarkable growth over the years, attracting venture capitalists and individual investors alike. Projects like Polygon have emerged in the field, facilitating increased user interaction within the community. This is attributed to their ability to support fast transactions, scalability, transparency, and interoperability. Another noteworthy player in the blockchain space is Bitcoin Spark, a project aiming to provide these attributes in a linear manner.
Polygon and its Partnerships
Polygon operates as a layer-2 scaling solution built on the Ethereum network. The platform’s objective is to enhance transactional speed, scalability, and user interoperability within the blockchain ecosystem. Polygon’s native currency is MATIC, which facilitates operations related to gas fees, governance, and network security. The layer-2 scaling solution has established partnerships with prominent brands, including Disney and Starbucks.
Bitcoin Spark: The Granddaddy of Cryptocurrencies
Bitcoin, often referred to as the granddaddy of all cryptocurrencies, aimed to introduce decentralization to the blockchain. However, it faced challenges related to mining equipment and power consumption, leading to centralization in the mining sector. In contrast, Ethereum adopted a proof-of-stake mechanism to validate transactions for staking participants.
Bitcoin Spark is a digital currency striving to enhance scalability, speed, and security for its users. The network is user-friendly, allowing newcomers to participate in its development. It employs a proof-of-process mechanism (a combination of proof-of-work and proof-of-scale) to verify transactions within the ecosystem. The core team members behind Bitcoin Spark are Steven Kurtz and Dylan Ashford, who prioritize developing decentralized technology with more freedom than existing solutions.
The BTCS Token
Bitcoin Spark’s native currency is BTCS, serving as the governing token for the ecosystem. Participants in the project’s activities receive BTCS as rewards. The token’s maximum supply is 21 million, distributed as follows: mining rewards at 78.3%, liquidity pools and exchanges at 2.4%, public ICO at 19.1%, and team tokens.
During the ICO phase 1, starting on August 1st, the token’s price will be $1.50. Upon the official launch on November 30th, the BTCS price will be $10.
Revenue Generation
Bitcoin Spark generates revenue through unobtrusive advertising on the project’s application and website. The project will allocate 50% of the advertising revenue to its dream team for maintenance, upkeep, and income, while the rest benefits its community participants. Another source of revenue comes from renting processing power to miners. The team will keep 3% of the revenue from this activity, with the remaining 97% allocated to the miners.
Conclusion
Decentralization in blockchain technology, particularly in mining processes, is of utmost importance. While Bitcoin serves as a digital asset for storing wealth, it faces challenges in transaction speed, smart contracts, and scalability. Bitcoin Spark, with its improved PoP system, aims to address these difficulties and has a comprehensive roadmap and marketing strategy that could attract many investors.
