Why Bitcoin Spark Could Be the Next Dogecoin Phenomenon
Dogecoin is among the most popular meme coins in the entire blockchain infrastructure. The meme coin has managed to get a massive following on social media with celebrity endorsements from prominent celebrities like Elon Musk, Snoop Dog, and Mia Khalifa.
Dogecoin pioneered the rise of meme coins, which have formed a significant pillar in DeFi and increased crypto adoption. Although Dogecoin is still popular among investors, this new Bitcoin alternative has more utility and growth potential.
What is Dogecoin?
Dogecoin is a digital asset platform established in 2013 as a meme adopted from an internet joke involving a Japanese dog breed named Shiba Inu. The platform adopted the image of a Shiba Inu dog as its mascot and quickly began to trend among crypto lovers and blockchain enthusiasts.
The crypto asset was created by Jackson Palmer and Billy Markus, whose main initiative was to make the platform as ridiculous and unsound as possible.
Bitcoin Spark could mimic Dogecoin’s success
While Dogecoin creators focused on making the platform as outrageous as possible, Bitcoin Spark developers bring massive utility to blockchain users. The Bitcoin Spark network will gain more users than Dogecoin due to the real-time applications offered by the network.
The Bitcoin Spark network employs a new cryptocurrency network validation mechanism called proof of process, an alloy of improved versions of proof of work and proof of stake consensus mechanism.
Bitcoin Spark encourages its community members to join the network validation process with a reduced entry barrier, unlike other networks like Bitcoin and Dogecoin. Bitcoin and Dogecoin use the proof-of-work consensus mechanism for their network activation and validation processes.
The proof of work consensus is highly computational and requires expensive, sophisticated computers and increased electricity. On the other hand, Bitcoin Spark is a lightweight network that allows miners to use commonly found low-powered devices to solve far less complex algorithms.
The developers at Bitcoin Spark will release an application for users to carry out their mining activities online through hand-held electric devices powered by Android, Windows, Mac OS, iOS, and Linux. These devices include mobile phones, tablets, ipads, and laptops.
This opens up the network to an increased number of validators, thus improving its security by discouraging the centralization of networks like Bitcoin, as most of their mining activities are controlled by a few entities. For instance, more than half of Bitcoin’s mining activities are controlled by Antpool and Foundry USA, which may unite and jeopardize the infrastructure of Bitcoin.
Another feature that makes Bitcoin Spark a profitable investment vehicle is its revenue streams. The developers will integrate two income-generating methodologies to yield the platform BTCS tokens.
The platform will yield processing power from mining activities through the “work” aspect of the proof of process consensus mechanism, which will then be sent to clients at affordable prices paid in BTCS tokens. The Bitcoin Spark team will get 3% of every completed sale, while the remaining 97% will be redirected to mining pools for network participants.
The following income stream is advertising, which will be implemented in unobstructed spaces on the platform’s website and software applications. Advertisers will pay in BTCS tokens to access the ad slots. These slots will actively be controlled by community members who will vote against any ad that violates the platform’s terms of service.
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