Mining cryptocurrency has never been easy. Apart from strict regulations in the sector, most cryptos have a huge barrier of entry to mining, especially major coins such as Bitcoin and Dogecoin.
Bitcoin is the first and largest cryptocurrency in the world. It uses the Proof-of-Work (PoW) consensus mechanism to verify and validate transactions on the network through a process called mining. Bitcoin mining is expensive and energy intensive. Dogecoin is a meme coin that started off as a joke but piqued investor interest to become the 8th largest cryptocurrency. Dogecoin uses auxiliary proof-of-work, where the coin is also earned by mining other coins that run their network. Bitcoin Spark is an all-new cryptocurrency that has a much lower barrier of entry than Bitcoin and Dogecoin.
Dogecoin mining
Dogecoin is significantly easier to mine than Bitcoin. Dogecoin miners approve transactions ten times faster than Bitcoin miners since Dogecoin operates on an adaption of the Ethereum blockchain, which is faster than Bitcoin.
Introducing Bitcoin Spark
Bitcoin Spark is a Bitcoin fork created to improve overall blockchain features, including speed, security, and scalability. The project operates on Bitcoin tokenomics, only that it takes longer before the maximum supply of BTCS tokens is reached.
Bitcoin Spark’s native token is BTCS, with a maximum supply of 21 million like Bitcoin. The project is in its first stage of the initial coin offering (ICO) and plans to distribute 4 million tokens to early participants at the end of the ICO.
Bitcoin Spark uses an all-new blockchain technology called “Proof-Of-Process” (PoP) to mine BTCS. PoP is a combination of the proof-of-work and proof-of-stake systems. The proof-of-process system will incorporate a special algorithm to ensure rewards are distributed more fairly amongst network participants. Miners with greater capabilities earn more, but not in an unbalanced way, as is typically the case for Bitcoin and Dogecoin mining.
In the PoP system, miners will be required to confirm blocks and provide processing power to the network. The more the stake and “work done,” the more the rewards, but not proportionately as it is for the Proof of Stake consensus on the Ethereum blockchain.
Users can participate in the Bitcoin Spark project and earn revenue in mining and advertising. Upon the development of Bitcoin Spark’s mining ecosystem, the process will be done on a smartphone or a laptop with Windows, Linux, or Mac OS operating systems. The team is developing an app that will allow participants to mine in the comfort of their homes. However, mining has not started yet.
Participants can also purchase advertising space on the Bitcoin Spark app or home website and will be required to pay for the slots in BTCS. Users who purchase BTCS during phase 1 of the ICO are eligible for a 20% bonus. Imagine being able to buy Bitcoin when it was $1. BTCS is selling at $1.50 until August 11, when phase 2 of the ICO begins.
Bitcoin Spark ensures investors of security. Vital Block and Contract Wolf, two of the largest smart contract audit firms in the crypto ecology, have audited and verified the project’s smart contract. Moreover, the team behind Bitcoin Spark has been certified by Vital Block and issued a KYC certificate that identifies them as the pioneers of the project.
Find out more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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.