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Bitcoin is an old-generation blockchain network that was developed in 2009. At the time, the blockchain network was up to speed. However, Satoshi Nakamoto, the individual or group behind Bitcoin’s development, created the technology rigidly that does not offer capacity for scalability. The rigidity of Bitcoin’s network prompted the rise of Bitcoin alternatives like Bitcoin Cash, which attempted to solve some of the Bitcoin network’s setbacks concerning network activity. The improved technology projects a future where Bitcoin alternatives like Bitcoin Spark and Bitcoin Cash gain mainstream adoption by employing what Bitcoin looks to solve but more efficiently.
Bitcoin Cash is among the popular alternatives that came up to address the challenges the Bitcoin network was imposing on network users. Besides having high transaction speeds and block sizes, Bitcoin Cash’s functionalities resemble that of Bitcoin. Bitcoin Cash is a proof-of-work blockchain involving miners solving mathematical equations to reach a consensus in approving transactions and verifying new blocks. After mining, Bitcoin Cash miners receive the platform’s native digital currency as mining rewards that can be exchanged for other cryptocurrencies or used within the ecosystem as a medium of exchange for buying and selling goods and services.
Bitcoin Cash and Bitcoin Spark aim to provide an alternative network that introduces exclusive features to network participants. With this in mind, Bitcoin Spark has a better network infrastructure than Bitcoin and Bitcoin Cash, putting it at the forefront as the leading Bitcoin alternative. While Bitcoin Cash focuses on developing a faster network than Bitcoin, Bitcoin Cash aims to bring a self-sustaining virtual economy into existence. Bitcoin Spark’s digital economy will allow developers to progress virtual activities while earning active and passive income.
A unique hybrid consensus mechanism that connects proof-of-work and proof-of-stake makes Bitcoin Spark stand out as a leading Bitcoin alternative. The proof-of-process allows community members to create generational wealth through capital gains and passive income. The proof of work aspect of the proof of process consensus involves mining, similar to what happens on Bitcoin Cash and the Bitcoin ecosystem. Bitcoin Spark miners will work under a multi-layered mining smart contract that capitalizes on processing power rental to yield BTCS as a source of revenue for the network.
The miners will also earn mining rewards in BTCS tokens for their upkeep and maintenance. Being a lightweight network, Bitcoin Spark allows users to mine in the network with locally available electric devices with smaller RAM and GPU/CPU capacity. The Bitcoin Spark developers have embarked on a tech journey to launch a mining application that will facilitate mining BTCS in the background of these electronic gadgets. This means that the local device’s normal operational requirements will still run smoothly without interference with the mining process operating in the background.
Bitcoin Spark’s ICO has attracted investors from major Web3 projects, such as Bitcoin Cash and the parent blockchain Bitcoin, who see the platform’s potential to generate returns in the coming bull market.
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