While Ethereum has been a pioneering force in the blockchain space, it primarily functions as a decentralized platform for smart contracts and decentralized applications. However, Bitcoin Spark emerges with a promising advancement, aiming to extend utility beyond the network itself.
Ethereum Merge
The Ethereum Merge was the joining of the original execution layer of Ethereum with its new Proof-of-Stake (PoS) consensus layer, the Beacon Chain. It eliminated the need for Proof-of-Work (PoW) mining and instead enabled the network to be secured using staked ETH. This transition held the promise of scalability, energy efficiency, and reduced environmental impact.
Ethereum news
Visa is seeking to make paying Ethereum (ETH) gas fees easier. According to the credit-card giant, paying fees for transactions on the Ethereum blockchain is complicated for most people, and it has completed testing a new way to allow users to pay the fees in fiat currency with their credit card. Industry watchers suggest this offers a promising approach to substantially address Ethereum’s gas fee challenges.
Bitcoin Spark (BTCS): The evolution of blockchain technology
Bitcoin Spark is a Bitcoin fork that introduces various innovative technologies to usher in a new age of crypto use cases. The network will include a greater number of nodes, reduced time per block, and increased individual block transaction capabilities to ensure lower gas fees and faster transaction speeds compared to its precursor.
The Bitcoin Spark network will also include a layered smart contract execution system compatible with both high-level and low-level languages. This will allow for smart contract deployment in the EVM-compatible languages Solidity and Vyper or any other high-level language compilable to EVM bytecode. A parallel layer will also enable the deployment of contracts in Rust, with integration to allow transaction settlement on the main network. The independent contract execution systems with singular network finality will result in a diverse and robust ecosystem of applications and smart contracts, increasing the use cases of Bitcoin Spark.
Rewards for block confirmation are the only way to incentivize validators to participate in most blockchains, including Ethereum. However, Bitcoin Spark is here to change the way blockchains generate revenue and incentivize participants. The project achieves this through its novel consensus mechanism, Proof-of-Process, which rewards miners for validating blocks and providing processing power to the network in a unique non-linear fashion. Users will be able to mine by installing the Bitcoin Spark application and providing access to their device’s processing unit. The application will be compatible with Windows, iOS, Android, Linux, and Mac OS devices, enabling virtually anyone to participate in network validation.
Bitcoin Spark will then rent out the processing power provided by the miners to individuals and organizations that require high computing power for tasks like running resource-hungry simulations, large-scale video rendering, and maintaining shared-resource servers. Those using the remote processing power will be required to pay with BTCS, and the revenue generated will be sent to the mining pool as mining rewards. Opening up the network validation to many users means unlimited devices can provide processing power to Bitcoin Spark, infinitely increasing the product potential. Bitcoin Spark will also allow small slots for advertisements on its application and website. This capitalizes on the booming marketing industry, with miners receiving 50% of the revenue generated from the ads.
BTCS minting rewards are reduced in line with the revenue generated within Bitcoin Spark. And with the potential of infinite revenue, the network could become self-sustaining, allowing miners to remain profitable while retaining a fixed supply.
Bitcoin Spark has conducted audits to ensure the sustainability and security of its smart contracts. This has increased investors’ confidence in the project’s Initial Coin Offering (ICO). The ICO is in phase 2, offering BTCS at $1.75 and a 15% bonus. Investing at this level guarantees a profit of 657% on launch day.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
