Bitcoin Cash (BCH) is a significant player in the crypto market. However, the landscape of digital currencies is ever-changing, and Bitcoin Spark (BTCS) has emerged as a potential frontrunner to succeed Bitcoin Cash (BCH) as the go-to digital currency for everyday transactions.
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency that resulted from a hard fork from the original Bitcoin blockchain on August 1, 2017. The key motivation behind the creation of Bitcoin Cash was to address some of the scalability issues faced by the original Bitcoin network. Bitcoin’s block size was limited to 1MB, which led to slow transaction processing times and higher fees during periods of high demand. BCH proponents believed that by increasing the block size, the network would be able to handle more transactions at lower fees, thereby improving scalability and usability as a digital currency for everyday transactions. Nonetheless, Bitcoin Cash shares many similarities with Bitcoin (BTC), including its proof-of-work (PoW) consensus mechanism and a capped supply of 21 million.
Bitcoin Cash price
After the fork from Bitcoin, Bitcoin Cash (BCH) saw a surge in interest and demand, reaching an all-time high of around $4,355 in December 2017. However, BCH faced challenges, including a prolonged bear market and skeptics who questioned its legitimacy and its ability to compete with other cryptocurrencies. The price of Bitcoin Cash consequently experienced a significant decline, dropping to around $600 by April 2018.
Nonetheless, Bitcoin Cash demonstrated resilience and managed to regain momentum. Throughout 2019 and 2020, it benefited from various developments and integrations into payment platforms and online merchants, further establishing its position as a viable alternative to Bitcoin. By mid-2021, as the overall cryptocurrency market gained massive attention and adoption, Bitcoin Cash experienced a remarkable surge in price. The BCH price has also been on an overall increase for the past 90 days.
The positive BCH price history has showcased the potential for growth and adoption of Bitcoin Cash and has contributed to cementing its position among the leading cryptocurrencies in the market.
What is Bitcoin Spark?
Bitcoin Spark (BTCS) is a new and cutting-edge cryptocurrency designed to provide users with unparalleled security, speed, and scalability. Bitcoin Spark has the same core tokenomics that Bitcoin has, only with an extended period until max supply is reached and several enhancements that improve on Satoshi’s vision. By reducing the time per block and increasing the number of transaction capabilities per block, Bitcoin Spark aims to achieve significantly improved transactions per second. Combining this and a drastically increased quantity of nodes with a lower initial outlay and running costs will also significantly reduce the fees for using the chain, making it a more efficient and practical choice for everyday use.
One of the key distinguishing features of Bitcoin Spark is its commitment to decentralization and inclusivity. Anyone can participate in the BTCS mining process with the introduction of their novel consensus mechanism, Proof-of-Process (PoP). PoP combines elements of Proof-of-Work (PoW) and Proof-of-Stake (PoS), rewarding miners and validators for confirming blocks and providing processing power for computational tasks. Bitcoin Spark integrates the Proof-of-Process with a special algorithm that limits linear rewards on raw processing power or stake size, ensuring the network stays stable and rewards are distributed fairly among network participants. The work and energy required for block confirmation is relatively low and is facilitated by an application that performs processing work in a virtual environment.
As the native cryptocurrency of the Bitcoin Spark ecosystem, BTCS will serve as the medium for network transactions and governance. The Bitcoin Spark Initial Coin Offering (ICO) starts on 1st August, with BTCS selling at $1.50. The ICO offers investors a chance to get several benefits, including token bonuses and significant profits by launch day. The anticipation surrounding Bitcoin Spark’s ICO is fueled by the project’s ambitious objectives, fortified technology, and potential to follow in its predecessors’ footsteps.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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