As digital assets evolve, the emergence of new cryptocurrencies with top-notch technology challenges the prominence of established players. Making waves in the crypto landscape is Bitcoin Spark (BTCS), a Bitcoin fork addressing scalability, speed, fair reward distribution, and mining accessibility.
Bitcoin Spark (BTCS)
Bitcoin Spark is an advanced project addressing issues in the Bitcoin ecosystem and the general crypto space. Being a Bitcoin hard fork, the tokenization is similar to BTC but uses a new and unique Proof-Of-Process (PoP). Bitcoin Spark enhances BTC and ETH features to give users a better experience and more functionalities.
Bitcoin Spark tackles high costs, slow processing, and complex mining, allowing more people to participate and contribute to its growth. PoP presents a hybrid approach balancing scalability and security while ensuring fast transactions and a secure network.
Bitcoin Spark offers a technologically advanced application compatible with various operating systems, making it easy for users to join the network. The application operates in a secure virtual environment, providing safe transaction processing while minimizing potential device interference.
The project introduces a unique revenue-based system, ensuring sustainable mining rewards as revenue grows. This approach avoids disproportionate rewards to a single powerful miner, enhancing network security. It also supports the network’s self-sustainability and encourages community participation.
Phase five investors in its ICO get a 9% bonus and BTCS tokens at a discounted value of $2.50. Bitcoin Spark’s ICO offers an opportunity to acquire this Bitcoin alternative at an affordable price and earn 436% ROI.
How to buy Bitcoin
Buying Bitcoin is a simple process with straightforward and a few steps that vary based on your location and chosen platform. Some of the crucial steps include an email and KYC documents, choosing a reputable digital wallet, selecting a reliable cryptocurrency exchange, funding your account, and placing a Bitcoin order on the exchange. This process ensures secure storage and management of your BTC through various wallets and allows you to buy, sell, and trade cryptocurrencies on established exchanges. A safe and suitable digital wallet to store and manage your Bitcoin can be a web, mobile app, desktop, or hardware wallet. Signing up for an account on the chosen exchange involves providing the necessary compliance documentation. By adhering to these simple steps, you can easily buy Bitcoin and most cryptocurrencies.
How to mine Bitcoin
BTC deploys a PoW protocol, where miners use specialized hardware. You can mine using regular computers and gaming systems or join a group of miners called a mining pool. However, the rewards are shared based on each miner’s effort, and these setups could be more efficient compared to specialized ASIC mining machines. Typically, with standard setups, you might only make a few hundred dollars after considering energy costs. To improve your earnings, you would need to invest in multiple expensive ASIC miners and join a pool.
For a start, you’ll need to set up a Bitcoin wallet to receive and store the rewards you earn. Choose a secure wallet and get your unique Bitcoin address. Then, select compatible mining software for your hardware and operating system. Input your Bitcoin wallet address and pool information into the mining software, and if needed, adjust additional settings based on your hardware. Launch the mining software, and it will start solving complex puzzles. Rewards will be distributed according to your contribution to a mining pool. It’s paramount to understand that Bitcoin mining can be challenging due to the increasing difficulty of the mathematical challenges. That’s why many miners opt to join mining pools, where they combine their computational power, contribute to the network, and share the rewards. Additionally, it’s crucial to be aware that Bitcoin mining may only sometimes be profitable, considering the significant resources it can require, along with the industry’s competition and rising energy costs. However, critics point out Bitcoin mining is skewed towards centralization, with few able miners controlling the arena.
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