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Blockchain technology is a distributed network that operates on multiple interconnected computers that verify transactions at the same time. This verification improves security and enhances efficiency within the ecosystem. Two emerging decentralized projects, Shiba Inu and Bitcoin Spark, have raised attention in the virtual currency universe.
Shiba Inu, being launched in 2020, had an immense surge two years before the commencement of the 2022 crypto winter. On the other hand, a new entrant, Bitcoin Spark, introduced in 2023, depicts massive potential in creating awareness concerning adopting the Web3 ecology.
SHIB Price Prediction
Shiba, named after a Japanese dog breed, is on the verge of taking over the memecoin arena. Amid the winter market, the cryptocurrency has shown immense efforts for an upsurge. In addition, crypto analysts depict that the project might surge during the imminent crypto bull market happening in early 2024.
Bitcoin Spark Introduction in the Crypto Market
For every emerging project that comes into the crypto ecosystem, every individual seeks to invest in it to profit as it progresses. Others consistently accumulate the FOMO (fear of missing out). A dedicated team has launched a new platform called Bitcoin Spark with the intention of accommodating as many participants as possible.
The project leverages the decentralized ecosystem to facilitate integral aspects such as interoperability, smart contract operation, and scalability improvement. The platform has a well-drafted and clear roadmap that gives data concerning its development phases. Cognitos and Vital Block, a comprehensive and investigative auditing organization, have performed an audit on the network’s smart contract functionality.
One of the most exciting things enabling blockchain technology development is the continuous surge of ongoing and imminent projects. Bitcoin is considered the leading digital currency that attracts entrepreneurs. The project, however, is faced with shortcomings, such as a lack of smart contracts, which leads to scalability issues.
The platform can conduct seven transactions per second, a low speed which causes an increment in transaction cost. In addition, Bitcoin has been mining Juggernauts as the prominent vital players with stable finance have taken 50% ownership in the mining industry.
This has created security alarms as they can edit the blockchain and take over the 50 plus 1%. Bitcoin Spark is a groundbreaking project that will terminate all these limitations as it plans on being Bitcoin’s alternative. Bitcoin Spark will increase the number of nodes and the running outlay to reduce the transaction cost and increase the transaction speed, hence improving scalability.
The network will also integrate smart contract layers, enabling blockchain developers to create layer two scaling solutions. In the ecosystem, anyone can mine as the platform provides an application that facilitates mining activities. Low-powered devices can partake in the project’s progress. These electronic devices must be connected to the internet at up to 50 MBps speeds.
Bitcoin Spark has a revenue generation program involving advertisement and renting processing power to firms and individuals. The project will also initiate other methods of revenue generation so that blockchain users can benefit. The advertising sector entails utilizing a small unused part of the website and application for promoting brands; Bitcoin Sparks team members will take 50% of the revenue generator for income.
Another income-generating aspect is renting processing power acquired from the validator’s nodes. The GPU/CPU power will be utilized for film rendering and running resource-hungry simulations.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
