bitcoin Spark (BTCS) has gained significant traction in the crypto community.
And according to some industry observers, ethereum (eth) and ZCash (ZEC) miners could be eager to start mining bitcoin Spark.
Recent ethereum Developments
Steven Nerayoff, a former ethereum advisor, recently accused Vitalik Buterin, one of the co-founders of ethereum, of fraud and defamation.
Nerayoff claims that Vitalik and his father orchestrated a character assassination against him, pointing to a video where Vitalik implicates Nerayoff in ICO fraud. According to him, this maneuver was aimed at shifting the blame to him and diverting attention from Vitalik.
Analysts suggest that the ongoing internal dispute could lead to distractions and divisions within the ethereum community, which, in turn, could affect the overall stability of the network and the willingness of validators to continue supporting it.
What is ZCash?
ZCash is a cryptocurrency that was created with a primary focus on improving privacy and anonymity in blockchain transactions.
It was launched in 2016 and uses a proof-of-work (PoW) consensus mechanism like bitcoin. However, what sets ZCash apart is the use of advanced cryptographic techniques such as zero-knowledge proofs, specifically zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), which allow users to transact with a high degree of privacy.
Unlike bitcoin, where all transaction details are publicly visible on the blockchain, ZCash transactions can be secured, meaning the sender, recipient, and transaction amount can remain confidential.
What is bitcoin Spark?
bitcoin Spark is a new derivative of bitcoin. However, it has many significant changes that set it on its own path. However, it has a limited supply of 21 million BTCS, maintaining the scarcity factor that has made bitcoin (btc) so popular among investors. In fact, it has been recommended by some influencers for those who missed cheap btc.
The bitcoin Spark blockchain features faster and cheaper transactions due to its low block time, high transaction capacity of individual blocks, and large number of nodes.
Blockchain is also positioned as a strong platform for various smart contracts and decentralized applications (Dapps). It has a smart contract layer that includes separate execution systems that achieve their purpose on the main network. The multi-layered design ensures scalability and promotes diversity by enabling a wide variety of programming languages.
How to mine bitcoin Spark
bitcoin Spark uses a proprietary consensus mechanism known as Proof of Process (PoP). Rewards miners for validating transactions and providing their processing power to the network.
However, the rewards for mining BTCS are not linear, as the PoP exponentially decreases the rewards for additional power, ensuring a fairer distribution. The non-linearity of the rewards, coupled with the network’s massive nodes, allows even those with low-powered devices to mine BTCS profitably.
Before the network repository is made public for developers to create other mining software, users will need to install the bitcoin Spark app in order to mine BTCS. The bitcoin Spark app has been designed to be secure, easy to use, lightweight, and compatible with Mac OS, Linux, Windows, iOS, and Android. Once installed, the app will need access to the device’s processing unit in addition to other permissions, including resource management.
Once permission is granted, the app will create a separate virtual environment that does not interfere or interact with any other part of the device. The app will also periodically adjust the device resources used in mining to account for overheating, battery, and simultaneous usage requirements, although miners will have the option to set the rate themselves.
In particular, bitcoin Spark allows people and organizations seeking remote computing power to rent the power contributed by miners in exchange for BTCS. The income generated will be sent to the mining pool, where it will complement the minting rewards. This means that miners will receive newly minted BTCS, transaction fees, and income from renting their CPU/GPU power.
The bitcoin Spark team is offering investors the opportunity to earn BTCS before its official launch through an Initial Coin Offering (ICO). The ICO is in Phase 6, selling BTCS at $2.75, accompanied by an 8% bonus.
For more information about bitcoin Spark:
Website: https://bitcoinspark.org/
Visit the BTCS pre-sale: https://network.bitcoinspark.org/register
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