Investors are constantly looking for promising opportunities among many Bitcoin alternatives in the crypto market. This year, all indicators suggest that Bitcoin Spark (BTCS) may outshine Shiba Inu (SHIB).
What are “Bitcoin Alternatives?”
Simply put, Bitcoin alternatives are all cryptocurrencies except Bitcoin (BTC). While they share the same underlying technology as Bitcoin, the blockchain, each Bitcoin alternative seeks to address specific challenges or capitalize on new opportunities in the crypto market. They offer unique features, protocols, and use cases that differentiate them from the first-ever cryptocurrency. Investors and enthusiasts explore these alternatives, seeking innovations that might lead to significant growth and adoption.
Will Shiba Inu coin reach $1?
Shiba Inu (SHIB) was originally developed as a meme coin but has since transformed into a well-known cryptocurrency with a strong and committed community. The project’s dev team has been pushing various developments and upgrades to increase SHIB’s utility. However, while the idea of the Shiba Inu coin reaching $1 may seem enticing, achieving such a milestone would require an astronomical rally of more than 12,400,000% from its current price. Although potential catalysts could trigger a bullish run for SHIB, hitting the $1 mark is virtually impossible since its relatively high market capitalization makes it hard to reach such high percentage changes in price. Even if Shiba Inu’s circulating coin count were drastically reduced to 100 trillion through burning, it would need to have a market capitalization of $100 trillion at a price of $1, surpassing the market cap of the entire cryptocurrency market by around 100 times.
Bitcoin Spark (BTCS): Imagine buying Bitcoin (BTC) at $1
Bitcoin Spark is the latest Bitcoin alternative. As a Bitcoin hard fork, it preserves some of the key features of BTC, such as the limited supply of 21 million, while also introducing innovative aspects that enhance speed, security, and scalability. Bitcoin Spark achieves faster transaction speeds and lower gas fees than Bitcoin by increasing transaction capabilities per block, decreasing block time, and expanding the number of nodes.
In addition to transaction improvements, Bitcoin Spark introduces an innovative consensus mechanism known as Proof-of-Process (PoP). This mechanism combines elements of Proof-of-Stake (PoS) and Proof-of-Work (PoW) with a unique algorithm to achieve a fairer distribution of rewards for miners/validators. PoP rewards participants for confirming blocks on the network and for renting out their processing power. The Bitcoin Spark development team has taken proactive steps to address concerns associated with the traditional crypto mining processes. Instead of resource-intensive mining, BTCS mining is facilitated through a user-friendly application compatible with Android, iOS, Windows, Linux, and Mac OS devices. The application limits the mining capability based on the resources available on the device, ensuring a more energy-efficient approach to block validation. This system promotes decentralization and encourages active participation in the network, fostering a more robust and secure ecosystem.
Notably, Bitcoin Spark provides additional ways for its network participants to profit aside from mining and renting out the processing power of their devices. The Bitcoin Spark website and application will have small spaces for advertisements. 50% of the revenue generated from these advertisements will go to miners and network participants. Every BTCS holder has a say in removing an ad that fails to adhere to set rules or guidelines. Those who voted for the removal of an ad that is found unfit after a manual review by a team member receive 15% of the remaining advertising fee, incentivizing community policing and ensuring a transparent and inclusive advertising process.
The Bitcoin Spark network uses a multi-layer architecture that includes a smart contract layer. This layered system also allows for different programming styles, including both high-level and low-level languages. This promotes flexibility and innovation, enabling the development of a range of decentralized applications (dApps) and smart contracts within the Bitcoin Spark ecosystem and boosting the BTCS use cases.
The Bitcoin Spark Initial coin offering (ICO) offers investors an opportunity to capitalize on a cryptocurrency’s growth potential that builds upon Satoshi Nakamoto’s vision. BTCS is currently selling at $1.50 with a 20% bonus in Phase 1 of the ICO.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.