The Cryptocurrency industry has stood the test of time since the invention of Bitcoin in 2009. Early investors who capitalized on buying it then are now worth fortunes. However, many seem to believe that it is and the market capitalization is too large to make significant capital gains. Its price action as of late, however, might as well prove them wrong. Nevertheless, there are two projects that have been trending for various reasons recently.
Solana’s recent price action has seemingly convinced many investors that the project is soon initiating an upward trajectory toward long-term highs. On the other hand, Bitcoin Spark is promising to bring glory to investors who missed Bitcoin’s impressive surge before mainstream adoption.
Solana is back on track after recording massive losses from the recent crypto meltdown. The bear market impacted Solana’s price so much, causing investors to flee to other projects. The cryptocurrency platform also got involved in the FTX debacle, contributing to the shift in investor sentiments. Some crypto analysts suggested that Solana would never recover from its pithole.
Others argue that Solana’s price could be among the fastest moving when the bull market begins. The future of Solana is still unknown. However, the project is up 300% this year, which indicates that bulls are not going away any time soon. The ongoing altcoin frenzy, Bitcoin ETF application approvals, and the much-anticipated bull market are some of the catalysts that could Spark Solana to new highs.
Mining is among the most discussed terms in cryptocurrencies. Mining used to be characterized and associated only with proof of work blockchains until now. Bitcoin Spark is a proof-of-process blockchain that uses mining and staking activities to manage the network’s day-to-day operations. The mainnet has not yet been released, but the KYC-verified developers have given numerous announcements on their social platforms, indicating that the blockchain is in beta tests.
The mining process in Bitcoin Spark will be like any other mining process in the entire industry, making the platform a first-to-market blockchain.
It will occur on the platform’s smart contract, specifically in the mining layer. Unlike other mining platforms, mining BTCS will be less complex and more decentralized. Miners will be required to solve simple mathematical equations while approving transactions in the network, prompting the use of low-powered devices as mining equipment. Bitcoin Spark also changes the narrative, telling industry participants that ‘mining’ is a complicated subject saved for the ultra-wealthy.
The unique feature of mining in the Bitcoin Spark network is that users will execute the process in the comfort of their homes. Since the process is not so complicated, it will occur through a mining software application installed on any smart device. The application will link the platform’s smart contract directly with the mining device, allowing the device to communicate with other nodes accurately and in real-time. The miners will gain BTCS, the platform’s utility token, as mining rewards are distributed non-linearly.
Bitcoin Spark has an audited smart contract that comprises four layers: the Execution Layer, the Consensus Layer, the Mining Layer, and the Rewards layer. The mining process will take place on the mining layer, and the information will be sent to the rewards layer for algorithmic calculation of the potential rewards each miner is supposed to get. This calculated information is then transferred to the execution layer that interacts directly with the mining pools to allocate the rewards to the network participants.
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